My fiancé has me as domestic partner on insurance at work. His paycheck shows noncash earning on his pay stub,does this have any correlation?
- ShayLv 74 weeks agoBest Answer
Sometimes companies give out bonuses that are not directly paid on the paycheck. The income from these bonuses must also be shown on the check stub so that it counts as part of the total income for the year.
All income must be reported, so any income that does not fit into "hourly wages" or "salary wages" gets reported into a separate category. In your husband's company, that category is reported as "noncash earnings".
These types of income could include things like stocks, gift cards, and any award that provided monetary gain that was not reported as part of his usual wages for the pay period.
Also - the only thing tax related is that it is income that needs to be included in total income for the year so that it is correctly taxed. Since it has been reported on the paycheck stub, then the correct taxes for that income has already been taken out of that income.
It has nothing at all to do with insurance.
- AnonymousLv 74 weeks ago
Domestic partner insurance is not a pre-tax benefit so if it's company provided, it's taxable and if you're paying for the insurance, it can't be pre-tax. So, it's likely an adjustment for that. That being said, it could be anything else as well.
- Anonymous4 weeks ago
The value of having you on his insurance is taxable income. He is taxed on the amount that you cost over a single policy. This will change when you get married, as spousal insurance *is* untaxed.
- 4 weeks ago
No, it means he gets some kind of perk that the government considers taxable or at least reportable, like stock options.