Payroll Updates in 2020: Taxable vs. Non-Taxable Fringe Benefits

Price: $ + applicable taxes

2020 and COVID-19 have heralded an onslaught of IRS changes for Finance to keep tabs on – which makes staying compliant difficult.

One of the most difficult areas to process: tax withholdings on fringe benefits.

Some fringe benefits count as taxable income, and de minimis fringe benefits don’t - but it can be hard to find the line in the sand, especially during the era of COVID-19, remote work, PPE, and other changes.

This 60-minute workshop is designed to help finance and payroll professionals understand and correctly process tax withholdings for fringe benefits in 2020.

You’ll learn how to ensure end-to-end tax compliance, and walk away ready to:

Withhold taxes from employee paychecks with confidence
Explain updated 2020 tax withholding to staff members and management
Set up and maintain audit-proof documentation of tax withholdings
And more!

Program Highlights

Learn the building blocks of tax compliance with fringe benefit withholding

Exactly how to determine which fringe benefits are – and aren’t – taxable
How to determine the value of the benefits your organization is providing to employees
When certain taxes need to be withheld
Keys to explaining withholdings to employees

Navigate complicated tax laws with ease

Identify – and avoid – the most common mistakes organizations make that can trigger an audit
Understand the difference between taxable and reportable according to the IRS
Learn which tax rate to use for taxable benefits: aggregate, flat rate, cumulative, gross-up, etc.
Explore the impact COVID-19 and remote work have had on taxation
Learn how expense reimbursements can lead to fraud if not monitored properly

Get answers to all your most important questions about taxation in 2020

With employees working from home, if I give my employee a company cell phone or pay for their internet, does that trigger a taxable event?
How do I determine when accounts payable should be involved in a taxable vs. nontaxable issue?
Should my employees fill out a new W-4 every year?
Do I have to withhold taxes all at once, or can I spread the tax burden out over payroll periods?

About the Speaker

Pamela Fagan is president of Audit Business Services, Inc. She is a management consultant and compliance auditor to government, business, and associations with global perspective. Pamela has fifty years of experience in human resources, payroll, management, accounting and finance. She has been an Executive Vice-President for a manufacturing plant; director of accounting and personnel, and CEO for a nationwide rental company, business manager for a non-profit opera company; and currently is the operations director for a Native American non-profit organization.

Pamela has been a trainer/presenter for multiple training companies for the last 27 years. Her topics have included accounting, payroll, human resources, communication and time management, safety, computer courses and administrative/management classes. She is a specialist in all 50 states and Canada employment, labor and tax laws

She a member of Society for Human Resource Management, and a member of the American Payroll Association. She has her SPHR certification with SHRM, CPP (certified payroll professional) certification with American Payroll Association, TFOC (Tribal Finance Officers' Certification) with Native American Finance Officers Association, and her THRC (Tribal Human Resources Certification).

Program Benefits

Between purchasing PPE, reimbursing remote worker expenses, and altering other benefits to meet the changing needs of a pandemic workforce, taxation has gotten increasingly complicated this year. This workshop will help finance professionals ensure that they’re following updated rules for taxable fringe benefits in 2020.

If you'd like this program customized for your organization, call us at 1-800-964-6033. We're certain we can fulfill your training needs, while making it fit in your budget!

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