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Add fringe benefits (or imputed pay) retroactively

To make sure your tax filings are as accurate as possible, we recommend adding in all fringe benefits (like gym stipends or memberships, relocation reimbursements, company car, etc) before we file your quarterly or annual taxes. 

To add missing fringe benefits (or, "imputed pay") and record them for the year, follow these steps: 

  1. First, add any fringe benefits to your Gusto account. 
  2. Then, record these benefits by running an off-cycle payroll with the 'Net Earnings' field set to $0. Make sure the check date is on or before the last day of the year (December 31) in order to have the amounts reflected in your filings and W-2s for the year.

After you run an off-cycle payroll with the benefit set up, we’ll debit your company's account for any associated payroll taxes. This debit will include employer taxes as well as employee taxes; as a result, your employee(s) will owe you for their portion of the taxes we debit.

To recoup these funds from the employee(s):

  • Set up a one-time post-tax deduction for that employee to withhold that amount from their wages. This will return that amount to the company bank account

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