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ingresos asimilados a salarios

English translation: income/receipts/benefits assimilated to salary


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13:14 Oct 23, 2011
Spanish to English translations [PRO]
Bus/Financial - Other
Spanish term or phrase: ingresos asimilados a salarios
Hi all.

Unfortunately there´s not much context, because this is from a spreadsheet listing the documents that company X has to provide to its external auditor. The expression appears in the following phrase:

Copia de la declaración anual de retenciones a contribuyentes que obtengan ingresos asimilados a salarios y otras retenciones excepto pagos al extranjero.

Any tax experts out there that can give me a hand?

Thanks in advance!
Laura Kiernan
Spain
Local time: 04:46
English translation:income/receipts/benefits assimilated to salary
Explanation:
This covers things like life insurance, use of car etc. which is in many cases treated as salary income.

You could also say 'treated as salary'.

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Note added at 10 mins (2011-10-23 13:24:36 GMT)
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Of the three alternatives, I would use receipts on balance.
Selected response from:

xxxFVS
Grading comment
4 KudoZ points were awarded for this answer



Summary of answers provided
4 +1imputed income
marybro
4income/receipts/benefits assimilated to salaryxxxFVS


  

Answers


9 mins   confidence: Answerer confidence 4/5Answerer confidence 4/5
income/receipts/benefits assimilated to salary


Explanation:
This covers things like life insurance, use of car etc. which is in many cases treated as salary income.

You could also say 'treated as salary'.

--------------------------------------------------
Note added at 10 mins (2011-10-23 13:24:36 GMT)
--------------------------------------------------

Of the three alternatives, I would use receipts on balance.

xxxFVS
Native speaker of: Native in EnglishEnglish
PRO pts in category: 52
Notes to answerer
Asker: Thank you very much, FVS! I really appreciate it.

Login to enter a peer comment (or grade)

17 hrs   confidence: Answerer confidence 4/5Answerer confidence 4/5 peer agreement (net): +1
imputed income


Explanation:
From a tax perspective, this is referred to as "imputed income".

you could say imputed income (benefits treated as wage income)
The most common are life insurance & use of company car or company leased car.

http://wiki.answers.com/Q/What_is_imputed_income

Answer:

Income that may not be seen as cash, but instead comes in the form of a benefit...sometimes by having another pay an expense...sometimes by having a benefit provided.

Examples: The value of a car provided by your employer that you may use for personal use. That value is imputed income.

Likewise, the value of having some other benefits - over $50,000 a year of life insurance provided by your employer (the value of the insurance is imputed income).

An employer sponsored (even if what it does just work to make the costs lower) of an on site cafeteria - imputed benefit.

Having a below market rate loan...that some employers provide certain employees...the lower interest that they forgoe is a benefit to you...and hence imputed income.




Read more: http://wiki.answers.com/Q/What_is_imputed_income#ixzz1bg2fo9...

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Note added at 17 hrs (2011-10-24 06:30:10 GMT)
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http://definitions.uslegal.com/i/imputed-income/

Imputed Income Law and Legal Definition

Imputed income is the addition of the value of cash/non-cash compensation to an employees’ taxable wages in order to properly withhold income and employment taxes from the wages. Imputed income is taxable to the assignee (unless specifically exempt). Because it is delivered for the performance of services (related to employment) it must be included in the assignee's Form W-2 to accurately reflect the assignee's taxable wage-related income.

Imputed income is reported on Form W-2. Imputed income is not subject to the federal income tax withholding rules. Employees may choose to have federal income tax withheld on the imputed income or pay what may be due when filing their federal income tax return. Tax penalties may apply if the employee has not withheld enough federal income taxes on the imputed income. Imputed income is subject to withholding for FICA tax purposes. Imputed income is also often relevant to determinations of support payments in divorce.

Examples of imputed income include:
■Dependent care assistance that exceeds the tax- free amount.
■Adoption assistance that exceeds the excluded amount.
■Group term taxable life insurance coverage over $50,000.
■Unsubstantiated employee business expenses.
■Personal use of employer-provided car.
■Educational assistance above the excluded amount.
■Non- deductible moving expense reimbursements.


marybro
Local time: 22:46
Native speaker of: Native in EnglishEnglish
PRO pts in category: 16

Peer comments on this answer (and responses from the answerer)
agree  bigedsenior
15 hrs
  -> Thanks a lot, bigedsenior!
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