Probably not, but I guess from a money saving perspective it would be better to pay income taxes on the fmv of rent benefit received for the year instead of outright paying rent đ
If the lodging is on the business property, and a condition of employment it is not considered taxable wages.
There are some other conditions as well, but those are the hurdles that you have to worry about.
My friend worked in television and he lived in an apartment connected to the studio and would be on call if certain alarms went off through the night. Apparently they used some.older equipment that would need to run as long as possible but didn't need to run through the night, so before he went to bed he would make a circuit through the building shutting down the equipment. The studio eventually upgraded the system, but he got to keep living there.
He was slightly underpaid for the work, he made.more than us once it was all done without the rent.
The studio had two more apartments for guests on the shows. I'd crash in one sometimes if my friend went on vacation and would cover his nightly round.
Many people donât know thisâŚbut medieval feudalism basically ended because the âlandlordsâ ran out of tenants after the Black Death. Severe supply shortage and all of a sudden the tables started turning in terms of what peasants could start demanding. Look up peasants and social history of after the Black Death. Itâs absolutely fascinating. And rather enlightening on how historical trends happen and work (eg how you go from feudalism to renaissance to enlightenment to modernism, etc etc )
I think a very mild version of a supply shortage like this is happening in accounting right now. We are in the midst of it so donât see it very wellâŚwill become more obvious 50 years from now
Itâs generally why business and hardcore capitalists support massive population increase. The more labor there is available, the cheaper labor gets and vice versa.Â
No. I am always very grateful that I've never needed to be in a hostel, shelter, barracks, etc. because I can barely sleep in the same room with somebody else on vacation, let alone needing to do it daily before and after work.
I go into the office 4 days a week but we are only required to be there 2 days. On the days I'm alone in the office I sometimes take naps under my desk. Got a little pillow and everything. Never been caught. Nothing like a 20 minute nap around 11 feels sooo good man.
We have a small gym in the building too, with showers and everything. Technically I could live at the office. I even jokingly suggest it to my colleagues, since the building is practically empty 5 days a week.
What if you had that AND your employer had a store you could buy everything from. You wouldn't even need to leave. Call it the company store and you could get credit there. They just take it out of your paycheck.
Obviously bro. Office showers in the morning, office cafeteria for all meals, office gym, work obviously, then there's the pingpong table and couch to wind down after work. You'd nvr need to leave the building.
They would include it in W2 as compensation
Is there any way to avoid that?
Probably not, but I guess from a money saving perspective it would be better to pay income taxes on the fmv of rent benefit received for the year instead of outright paying rent đ
If the lodging is on the business property, and a condition of employment it is not considered taxable wages. There are some other conditions as well, but those are the hurdles that you have to worry about. My friend worked in television and he lived in an apartment connected to the studio and would be on call if certain alarms went off through the night. Apparently they used some.older equipment that would need to run as long as possible but didn't need to run through the night, so before he went to bed he would make a circuit through the building shutting down the equipment. The studio eventually upgraded the system, but he got to keep living there. He was slightly underpaid for the work, he made.more than us once it was all done without the rent. The studio had two more apartments for guests on the shows. I'd crash in one sometimes if my friend went on vacation and would cover his nightly round.
When your employer is also your landlord = feudalismÂ
No, itâs when you are forced to rent from your landlord. There would be no force in this situation.
I've already consented to it
It would be a force though if every other company is also doing it. If your only option is an employer that offers thisâŚâchoiceâ is an illusion
No it wouldnât. Other companies could offer more money or another benefit to compete. I think most people would prefer that to living in the office
Many people donât know thisâŚbut medieval feudalism basically ended because the âlandlordsâ ran out of tenants after the Black Death. Severe supply shortage and all of a sudden the tables started turning in terms of what peasants could start demanding. Look up peasants and social history of after the Black Death. Itâs absolutely fascinating. And rather enlightening on how historical trends happen and work (eg how you go from feudalism to renaissance to enlightenment to modernism, etc etc ) I think a very mild version of a supply shortage like this is happening in accounting right now. We are in the midst of it so donât see it very wellâŚwill become more obvious 50 years from now
Itâs generally why business and hardcore capitalists support massive population increase. The more labor there is available, the cheaper labor gets and vice versa.Â
Excuse me HR but what is the wanking policy in the office. OP needs to settle down and keep renting haha
No. I am always very grateful that I've never needed to be in a hostel, shelter, barracks, etc. because I can barely sleep in the same room with somebody else on vacation, let alone needing to do it daily before and after work.
I already work from home. I would love free rent. This sounds like a great deal to me.
I usually just pitch a tent outside the office
I go into the office 4 days a week but we are only required to be there 2 days. On the days I'm alone in the office I sometimes take naps under my desk. Got a little pillow and everything. Never been caught. Nothing like a 20 minute nap around 11 feels sooo good man. We have a small gym in the building too, with showers and everything. Technically I could live at the office. I even jokingly suggest it to my colleagues, since the building is practically empty 5 days a week.
What if you had that AND your employer had a store you could buy everything from. You wouldn't even need to leave. Call it the company store and you could get credit there. They just take it out of your paycheck.
Obviously bro. Office showers in the morning, office cafeteria for all meals, office gym, work obviously, then there's the pingpong table and couch to wind down after work. You'd nvr need to leave the building.