Fringe Benefits Taxation & Reporting Rules & Guidelines
There are several ways to reward employees other than wages, and smart employers understand the importance and role of additional benefits. But, you need to understand the real cost of the various types of fringe benefits to your organization.
Fringe Benefits must be properly valued and handled, or you risk triggering additional tax expenses and payroll audits. IRS has specific rules covering the diverse types of benefits, and its essential payroll professionals stay on top of the latest requirements. In our 75-minute program we’ll cover what to tax and report to keep your company in compliance. Join us as we discuss:
- Distinguishing fringe benefits from expense reimbursements
- Which benefits are taxable, and which are excludable
- Taxation & reporting requirements for fringe benefits
- Tips for handling executive compensation and “perks’
- Keys to avoiding audits: Payroll tax and personal income
Program Highlights
Latest IRS Rules for Common & Specialty Fringe Benefits
- De Minimis benefits: How to define what falls under this category
- Tax issues: Meals, travel, lodging, and entertainment
- Changes to qualified transportation benefits compliance tips
- Paying for employee relocation and moving expenses
- Handling adoption assistance and dependent care assistance
- Look at employee discounts, awards and athletic facilities
- Understanding cafeteria plans and GTL insurance
Fringe Benefits Compliance Checklist: What to Tax & Report
- How to properly value a fringe benefit
- Keys to accurately report fringe benefits paid to workers
- Which benefits are now taxable - and which aren’t
- Withhold guidelines for payroll
- Reimbursement plans: Pitfalls to avoid
Question and Answer Session - Hear expert answers to real-world questions!
About the Speaker
Mark Schwartz has over 15 years of experience in state and federal payroll tax audits, collections, and payroll consulting.
- As an auditor, Mark prided himself on his ability to educate his auditees on state and federal payroll tax requirements. Whatever issues he found in audits, he ensured the auditee knew how to comply in the future. He worked to minimize company disruptions in the audit process.
- In addition to his real-life experiences, Mark has a Masters in Business Administration, and currently uses his entertaining and helpful personality to help organizations prepare for payroll tax audits - whether they've already got the notice or are still hoping they don't!
Program Benefits
Being both knowledgeable and choosy about which benefits you provide will go a long way in keeping workers motivated - without breaking either your company’s or their budgets. Join us to learn how to properly value, tax and report on the benefits you select to offer your employees.
SHRM Credits
Premier Learning Solutions is recognized by SHRM to offer Professional Development Credits (PDCs) for the SHRM-CP® or SHRM-SCP®. This program is valid for 1 PDCs for the SHRM-CP® or SHRM-SCP®. For more information about certification or recertification, please visit www.shrmcertification.org.
