Mastering Employee Expense Reimbursement for 2024: Stay IRS-Compliant with TC&JA Guidelines
Expense Reimbursements: Are You Safe From IRS Scrutiny?
Instructor :
Mark Schwartz
Webinar ID:
17627
Date: DEC 05, 2024 (THU)
Start Time: 10 AM PT - 11:15 AM PT
Duration: 75 Mins.
What will you learn
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- Define General Rules For Taxable Vs. Non-Taxable Expense Reimbursements
- Present IRS Guidelines On Taxation Of Employee Expense Reimbursements
- Ensure Your Policy Provides Necessary Information Without Being Burdensome
- Evaluate Specific Expense Reimbursements Processed Regularly By Your Company
- Determine Appropriate Valuation And Taxation Of Expense Reimbursements
- Understand When Reimbursements Must Be Included As Taxable Income
- Handle Personal Use Of Company ….
-
- Define General Rules For Taxable Vs. Non-Taxable Expense Reimbursements
- Present IRS Guidelines On Taxation Of Employee Expense Reimbursements
- Ensure Your Policy Provides Necessary Information Without Being Burdensome
- Evaluate Specific Expense Reimbursements Processed Regularly By Your Company
- Determine Appropriate Valuation And Taxation Of Expense Reimbursements
- Understand When Reimbursements Must Be Included As Taxable Income
- Handle Personal Use Of Company Property Like Vehicles And Phones
- Recognize Warning Signs Of Employee Fraud In Expense Reporting
- Implement Best Practices For Documenting And Processing Reimbursements
Course Description
Handling employee expense reimbursements incorrectly can lead to them being disallowed as business expenses or even treated as taxable compensation by the IRS. If that happens, your company may end up responsible for paying payroll taxes, which can lead to increased costs and penalties.
To avoid these costly mistakes, it’s crucial to ensure your expense reimbursements are treated as nontaxable—a challenge even for experienced payroll professionals.
Don’t take chances with your expense reimbursement plan for both employees and independent contractors.
Join our live 75-minute webinar to discover:
- What qualifies as an “Accountable Plan” under 2024 IRS guidelines
- Options for calculating and reporting taxable expenses to the IRS
- The difference between taxable reimbursements and compensation
- Key rules for specific reimbursement types that are high on the IRS audit list
- How to spot red flags of employee fraud and protect your company
- And much, much more!
Stay ahead of potential IRS audits and ensure your company is compliant with the latest TC&JA regulations.
Join Now!
Handling employee expense reimbursements incorrectly can lead to them being disallowed as business expenses or even treated as taxable compensation by the IRS. If that happens, your company may end up responsible for paying payroll taxes, which can lead to increased costs and penalties.
To avoid these costly mistakes, it’s crucial to ensure your expense reimbursements are treated as nontaxable—a challenge even for experienced payroll professionals.
Don’t take chances with your expense reimbursement plan for both employees and independent contractors.
Join our live 75-minute webinar to discover:
- What qualifies as an “Accountable Plan” under 2024 IRS guidelines
- Options for calculating and reporting taxable expenses to the IRS
- The difference between taxable reimbursements and compensation
- Key rules for specific reimbursement types that are high on the IRS audit list
- How to spot red flags of employee fraud and protect your company
- And much, much more!
Stay ahead of potential IRS audits and ensure your company is compliant with the latest TC&JA regulations.
Join Now!
Why you should attend
By the end of this live webinar, you will be equipped to understand, explain, and evaluate your business for compliance with key IRS and payroll requirements related to expense reimbursements.
You’ll gain insights on:
- IRS Rules for Employee & Independent Contractor Expense Reimbursement
- IRS requirements for taxing employee expenses effectively
- Differences between Accountable vs. Non-Accountable Plans for expense reimbursements
- How to stay off the IRS audit list by following rules on specific types of reimbursements
- Payroll Requirements for Reimbursements: Expense vs. Compensation
- Tips and tools to accurately calculate taxable expenses before the IRS does
- Understanding payroll taxation: When reimbursements must be counted as income
- Handling the personal use of company property like vehicles, cell phones, and more
- Best Practices for Processing and Documenting Expenses: Preventing Fraud
- Proper substantiation and documentation to exclude reimbursements from wages
- How to identify employee fraud with clear warning signs to watch for
- Methods for timely processing and collecting excess advance funds
- Live Q&A Session – Get your questions answered by our expert during the session!
By the end of this live webinar, you will be equipped to understand, explain, and evaluate your business for compliance with key IRS and payroll requirements related to expense reimbursements.
You’ll gain insights on:
- IRS Rules for Employee & Independent Contractor Expense Reimbursement
- IRS requirements for taxing employee expenses effectively
- Differences between Accountable vs. Non-Accountable Plans for expense reimbursements
- How to stay off the IRS audit list by following rules on specific types of reimbursements
- Payroll Requirements for Reimbursements: Expense vs. Compensation
- Tips and tools to accurately calculate taxable expenses before the IRS does
- Understanding payroll taxation: When reimbursements must be counted as income
- Handling the personal use of company property like vehicles, cell phones, and more
- Best Practices for Processing and Documenting Expenses: Preventing Fraud
- Proper substantiation and documentation to exclude reimbursements from wages
- How to identify employee fraud with clear warning signs to watch for
- Methods for timely processing and collecting excess advance funds
- Live Q&A Session – Get your questions answered by our expert during the session!
Areas Covered
-
- Define And Present The General Rules On What Makes Expense Reimbursements Taxable For Payroll And What Is Excluded From Payroll Taxes
- Evaluate Your Expense Reimbursement Policy To Ensure It Provides The Necessary Information For Employees Without Being Overly Burdensome
- Determine The Appropriate Valuation And Taxation Of Specific Types Of Expense Reimbursements Regularly Processed By Your Company
- Recognize The Warning Signs Of Employee Fraud In Expense Reporting
BONUS:
-
- PDF copy of the presentation handout for your future reference.
- Soft copy of the certificate of completion on request.
- Q&A Session with the Presenter: Get your pressing questions answered verbally, via chat or email.
-
- Define And Present The General Rules On What Makes Expense Reimbursements Taxable For Payroll And What Is Excluded From Payroll Taxes
- Evaluate Your Expense Reimbursement Policy To Ensure It Provides The Necessary Information For Employees Without Being Overly Burdensome
- Determine The Appropriate Valuation And Taxation Of Specific Types Of Expense Reimbursements Regularly Processed By Your Company
- Recognize The Warning Signs Of Employee Fraud In Expense Reporting
BONUS:
-
- PDF copy of the presentation handout for your future reference.
- Soft copy of the certificate of completion on request.
- Q&A Session with the Presenter: Get your pressing questions answered verbally, via chat or email.
Who is this course for
Maximize The Learning Experience in A Group Setting!
-
- Payroll Manager
- HR Manager
- Finance Manager
- Accounts Payable Specialist
- Compliance Officer
- Tax Manager
- CFO (Chief Financial Officer)
- Controller
- Small Business Owner
Maximize The Learning Experience in A Group Setting!
-
- Payroll Manager
- HR Manager
- Finance Manager
- Accounts Payable Specialist
- Compliance Officer
- Tax Manager
- CFO (Chief Financial Officer)
- Controller
- Small Business Owner
Instructor Profile
Mark Schwartz is an employment tax specialist and has over 15 years of employment tax experience as an independent consultant and as a payroll tax auditor with the State of California. He has managed an audit caseload of 20 ongoing audits, from small home-based businesses to large multi-national corporations. He is expert at defining regulatory and statutory requirements from local, State and Federal government agencies; and helping the average businessperson understand what that means to their business. He has processed weekly and bi-weekly payroll checks plus tax forms for businesses with hourly as well as exempt workers, multistate operations and a wide variety of benefits.
Mr.Schwartz provides consulting services encompassing payroll processing and payroll tax issues. These include payroll tax minimization, payroll tax compliance reviews, independent contractor studies, use of electronic transfers, deductions, benefits, etc. Mark has represented both clients and the State in front of the State Appeals Board. He understands the complexities of local wage laws, unemployment and disability claims, and other wage and benefit issues affecting your employees.
Mark prides himself on his outstanding customer service skills. He listens attentively to his clientele, helping them bridge the gap between the small business world and Government bureaucracy. He eagerly assists with clients needs and feels that educating clients toward faster, accurate and more complete payroll processes provide the most value.
Mark is a participating member of the American Payroll Association. He earned his BA and MBA in Finance at Santa Clara University. He has held Certified Internal Auditor and Certified Investment and Derivatives Auditor Credentials. Mark is currently pursuing a Certified Payroll Fundamentals Credential with the American Payroll Association.
