taxes

8 tax breaks that cost Uncle Sam big money

Taxes » Tax Deductions 8 tax breaks that cost Uncle Sam big money

Health insurance
Health insurance © iStock

Health insurance

All employee compensation is subject to tax unless the tax code specifically excludes it. That's the case for certain employer-provided benefits.

The most tax-costly company perk is health care. The value of what your employer pays for worker medical insurance premiums, long-term care coverage and health care doesn't cost you a tax cent.

But it does cost Uncle Sam. Through 2018, employer-provided health care benefits will keep the U.S. Treasury from getting its hands on some $785 billion.

advertisement

Show Bankrate's community sharing policy
          Connect with us
advertisement
WEEKLY TAX TIP NEWSLETTER

Our tax expert Kay Bell provides resourceful tips and advice to help you stay prepared for filing.

advertisement

Connect with us