Fringe Benefits are important component for recruiting and keeping high quality employees. But offering those benefits may also bring complex situations regarding taxation and compliance. Employers that don’t know...or think they know...how to properly tax and report fringe benefits often bring serious financial consequences upon themselves and their companies. All fringe benefits must be handled correctly. 

Learning Objectives:

• Review FMV (Fair Market Value) and how the IRS determines it.
• Discussion on No additional cost services, employee discounts, working condition fringe benefits & De minimis Fringe Benefits.
• Review qualified transportation benefits
• Discuss several excludable fringe benefits such as Retirement planning, athletic facilities, achievement awards etc.
• Discuss fringe benefits that should be taxable
• Review Moving/Relocation Expenses
• Review executive taxation items, like spousal travel. Company aircraft usage etc.
• Once a benefit is determined taxable, how to handle it
• Brief overview of how to handle any fringe benefits that AP pay.

Participants with walk away with a better understanding of the IRS view on fringe benefit taxation.  The details of the IRC exceptions allowed by the IRS will be detailed and explained to participants.  Participants will be able to better identify and calculate the fair market value of fringe benefits for taxation purposes.

Companies are providing more fringe benefits to employers more than ever before, thus reduces company cost but raises employee morale.  Because of this the IRS has more to say on what Fringe Benefits are taxable and what are not.  The IRS for non-taxable fringe benefits puts a lot of regulation around how the fringe benefit is given and when that also determines if a thought non-taxable item may end up being taxable.

Who will Benefit:

• Payroll professionals
• Accounting Professionals
• Tax Professionals
• Compensation Professionals
• Human Resource Professionals