Insurance shared with employer

[Brian Dolbec]

On Thu, 2006-19-01 at 19:57 -0500, David Reed wrote:
> In most cases in the U.S. it is a non-taxable benefit - I have a  
> separate account/category - for this and my employer's contribution  
> to my 403B.
> 
> Dave
> 
If you look at his email address it is a dot ca as in Canada.  Up here
it is considered a taxable benefit and therefore shows in his gross
salary/wages for tax calculations, just like mine are :(   Even RRSP
deductions are still taxed at time of payroll.  You have to wait till
you get it back on your tax refund check if your lucky enough to get
one.


(RRSP = Registered Retirement Savings Plan (tax sheltered))


> 
> On Jan 19, 2006, at 7:39 PM, Ian Lewis wrote:
> 
> > Is the $50 that his employer pays really income for him? In my case  
> > it's
> > never on my pay stub and is not included in my Salary. I never have  
> > that
> > money to expense it. My part, however, is included and is deducted  
> > on my
> > pay stub.
> >
> > On Thu, 19 Jan 2006 19:21:14 -0500
> > David Hampton <hampton-gnucash at rainbolthampton.net> wrote:
> >
> >> On Thu, 2006-01-19 at 16:32 -0500, Marc Tardif wrote:
> >>> My employer shares payment of insurance with employees half and  
> >>> half.
> >>> So, if insurance costs $100, my employer pays $50 and I pay $50. The
> >>> problem is that I'm not sure how to account for these amounts.
> >>>
> >>> For example, lets say I have a salary of $1000. So, my employer adds
> >>> $50 for its portion of the insurance which makes my gross salary  
> >>> look
> >>> like $1050. Then, I am deduced the full amount of the insurance $100
> >>> which brings me to $950.
> >>>
> >>> How do I account for my salary and insurance in GnuCash? Should I
> >>> report $1050 as Income:Salary and $100 as  
> >>> Expense:Insurance:Benefits?
> >>> Shouldn't I report $1000 as Income:Salary, $100 as
> >>> Expense:Insurance:Benefits and something else for the $50 insurance
> >>> paid by my employer?
> >>
> >> I use accounts named Income:W2 and Income:Other.  I would record  
> >> this as
> >> $1000 from Income:Salary, $50 from Income:Other, $950 to  
> >> Assets:Checking
> >> and $100 to Expenses:Insurance.  YMMV.
> >>
> >> David

-- 
Brian Dolbec <brian_dolbec at telus.net>