Maximizing Fringe Benefits: How to Keep Your Workforce Happy Without Tax Headaches
Stay Ahead With Tax-Savvy Fringe Benefit Strategies!
Instructor :
Mark Schwartz
Webinar ID:
17699
Date: DEC 10, 2024 (TUE)
Start Time: 10 AM PT - 11:15 AM PT
Duration: 75 Mins.
What will you learn
-
- Definition Of Fringe Benefits And Expense Reimbursement Distinctions
- What’s New For 2021, Including COVID-19 Fringe Benefit Updates
- Taxable And Non-Taxable Fringe Benefits: Payroll Tax Considerations
- Types Of Fringe Benefits: From Adoption Assistance To Transportation
- Cafeteria Plans: What Benefits Can And Cannot Be Included
- Rules For Company Vehicles And Employee Personal Vehicle Use
- Proper Valuation Of Fringe Benefits For ….
-
- Definition Of Fringe Benefits And Expense Reimbursement Distinctions
- What’s New For 2021, Including COVID-19 Fringe Benefit Updates
- Taxable And Non-Taxable Fringe Benefits: Payroll Tax Considerations
- Types Of Fringe Benefits: From Adoption Assistance To Transportation
- Cafeteria Plans: What Benefits Can And Cannot Be Included
- Rules For Company Vehicles And Employee Personal Vehicle Use
- Proper Valuation Of Fringe Benefits For Accurate Tax Purposes
- How To Correctly Tax Various Types Of Fringe Benefits
- Executive Compensation: Stock Options, Deferred Compensation, Golden Parachutes
Course Description
There are many ways to reward employees beyond just wages.
Smart businesses understand that offering fringe benefits like education assistance, commute help, and health and wellness programs can significantly improve employee satisfaction.
The IRS recognizes the value of fringe benefits and has established guidelines on which benefits are non-taxable to employees. Some key benefits that can be excluded from taxable income include:
-
- Educational assistance programs
- Commuting and transportation assistance
- Health and wellness incentives
- Employee discounts and more
However, it is crucial to stay within IRS limits and restrictions to avoid potential issues. Mistakes in benefit classification or overestimating non-taxable limits can lead to:
-
- IRS audits
- Inquiries
- Assessments for unpaid taxes
This 75-minute webinar will equip you with the knowledge to navigate the complexities of fringe benefits, avoid tax liabilities, and help your business retain happy, loyal employees.
Enroll Now!
There are many ways to reward employees beyond just wages.
Smart businesses understand that offering fringe benefits like education assistance, commute help, and health and wellness programs can significantly improve employee satisfaction.
The IRS recognizes the value of fringe benefits and has established guidelines on which benefits are non-taxable to employees. Some key benefits that can be excluded from taxable income include:
-
- Educational assistance programs
- Commuting and transportation assistance
- Health and wellness incentives
- Employee discounts and more
However, it is crucial to stay within IRS limits and restrictions to avoid potential issues. Mistakes in benefit classification or overestimating non-taxable limits can lead to:
-
- IRS audits
- Inquiries
- Assessments for unpaid taxes
This 75-minute webinar will equip you with the knowledge to navigate the complexities of fringe benefits, avoid tax liabilities, and help your business retain happy, loyal employees.
Enroll Now!
Why you should attend
Managing executive compensation is a critical task, especially as IRS auditors have shifted their focus toward stock options, golden parachutes, insurance, and other perks designed to retain top executive talent.
Mismanagement of these benefits can lead to costly issues, including:
-
- Payroll tax audits
- Personal income tax audits for the executives involved
Understanding which fringe benefits to offer and how to properly manage them is essential for protecting both your company and your employees from tax-related penalties.
Offering the right benefits can keep your workforce motivated without putting unnecessary strain on your budget or theirs.
Post-COVID-19, certain benefits, such as mandated sick pay, have become more advantageous, with government programs available to cover some of these costs. This adds another layer of complexity that requires careful consideration.
The IRS has published extensive guidelines on fringe benefits. How confident are you in your ability to accurately report and assess the taxability of the benefits your organization offers—or plans to offer?
This webinar will provide the insight you need to navigate these challenges and ensure compliance, while maximizing the value of the benefits you provide.
Join Now!
Managing executive compensation is a critical task, especially as IRS auditors have shifted their focus toward stock options, golden parachutes, insurance, and other perks designed to retain top executive talent.
Mismanagement of these benefits can lead to costly issues, including:
-
- Payroll tax audits
- Personal income tax audits for the executives involved
Understanding which fringe benefits to offer and how to properly manage them is essential for protecting both your company and your employees from tax-related penalties.
Offering the right benefits can keep your workforce motivated without putting unnecessary strain on your budget or theirs.
Post-COVID-19, certain benefits, such as mandated sick pay, have become more advantageous, with government programs available to cover some of these costs. This adds another layer of complexity that requires careful consideration.
The IRS has published extensive guidelines on fringe benefits. How confident are you in your ability to accurately report and assess the taxability of the benefits your organization offers—or plans to offer?
This webinar will provide the insight you need to navigate these challenges and ensure compliance, while maximizing the value of the benefits you provide.
Join Now!
Areas Covered
- Definition of Fringe Benefits: Understanding What They Are and How to Distinguish Them from Expense Reimbursements
- What’s New for 2021: Including COVID-19 Considerations
- Taxability of Fringe Benefits: What Is Excludable from Taxes, and What Requires Payroll Tax Withholding
- Types of Fringe Benefits:
- Adoption Assistance
- Athletic Facilities
- De Minimis Benefits
- Dependent Care Assistance
- Educational Assistance
- Employee Discounts
- Group-Term Life (GTL) Insurance
- Lodging
- Meals
- Moving Expenses
- No Additional Cost Services
- Transportation Benefits
- Working Condition Fringe Benefits
- Awards and Prizes
- Cafeteria Plans: What Can and Can’t Be Included
- Use of Company Vehicles: Rules for Personal Use of Company Vehicles and Employee Use of Personal Vehicles for Company Business
- Valuing Fringe Benefits: How to Properly Assess the Value of Each Benefit
- Taxing Fringe Benefits: How to Correctly Tax Each Benefit
- Executive Compensation:
- Stock Options
- Deferred Compensation
- Golden Parachutes
- Statutorily Deductible Executive Fringe Benefits
- Section 132 of the IRC
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.
- Definition of Fringe Benefits: Understanding What They Are and How to Distinguish Them from Expense Reimbursements
- What’s New for 2021: Including COVID-19 Considerations
- Taxability of Fringe Benefits: What Is Excludable from Taxes, and What Requires Payroll Tax Withholding
- Types of Fringe Benefits:
- Adoption Assistance
- Athletic Facilities
- De Minimis Benefits
- Dependent Care Assistance
- Educational Assistance
- Employee Discounts
- Group-Term Life (GTL) Insurance
- Lodging
- Meals
- Moving Expenses
- No Additional Cost Services
- Transportation Benefits
- Working Condition Fringe Benefits
- Awards and Prizes
- Cafeteria Plans: What Can and Can’t Be Included
- Use of Company Vehicles: Rules for Personal Use of Company Vehicles and Employee Use of Personal Vehicles for Company Business
- Valuing Fringe Benefits: How to Properly Assess the Value of Each Benefit
- Taxing Fringe Benefits: How to Correctly Tax Each Benefit
- Executive Compensation:
- Stock Options
- Deferred Compensation
- Golden Parachutes
- Statutorily Deductible Executive Fringe Benefits
- Section 132 of the IRC
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
Experience the benefits of this training individually and maximize them in a group setting!
-
- HR Manager
- Payroll Manager
- Tax Compliance Officer
- CFO (Chief Financial Officer)
- Benefits Administrator
- Compensation Analyst
- Finance Director
- Controller
- Employee Relations Manager
Experience the benefits of this training individually and maximize them in a group setting!
-
- HR Manager
- Payroll Manager
- Tax Compliance Officer
- CFO (Chief Financial Officer)
- Benefits Administrator
- Compensation Analyst
- Finance Director
- Controller
- Employee Relations Manager
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.
