Taxable vs Non Taxable Fringe Benifits in Finance

OVERVIEW:

Have your employees, employer or client asked you:

• What can you pay employees and it not taxable as employee wages?
• Why did you put my car allowance in my W-2.?
• Why are my moving expenses in my W-2?
• Are the education expenses you paid for me taxable?
• What kind of non-taxable benefits does your company have?

If you've been asked any of these questions, this is the course for you.

Product Id : 501196

 Instructor : Greta Hicks

Wednesday, March 22, 2017   |   10:00 AM PST | 01:00 PM EST   |   Duration: 90 Minutes
WHY SHOULD YOU ATTEND:

Employee expense reimbursements are subject to IRS guidelines.If not handled correctly and reimbursements do not meet IRS guidelines, expenses may be disallowed as deduction and considered compensation to those employees, leaving the employer responsible for the associated payroll taxes - plus any penalties. Taxable and nontaxable fringe benefit are scattered throughout the Internal Revenue Code. Benefits can be hid in Sec 274, 162, 119, 132, 127, and 82. Add in numerous Announcements, Notices and Regulations and we have a complex set of rules to follow.

This course will concentrate on the development of an Accountable Expense Reimbursement Plan under Sec 274 and accompanying regulations plus recent pronouncements and inflation increases.

We'll answer these and other questions:

• What are taxable and non-taxable as wages?
• Are meal allowances nontaxable?
• Are travel allowances nontaxable?
• What other benefits are nontaxable wages?
• What meals are 100% deductible and nontaxable to employees?
• What meals are 80% deductible and nontaxable to employees?
• What meals and entertainment are 50% deductible and nontaxable to employees?

AREAS COVERED IN THE SESSION:

• Which benefits go on the w-2?
• Do any benefits go on a 1099?
• Fringe benefits you might be missing.
• Accountable employee reimbursement plan.
• What employee benefits are non-taxable to employees?
• What/when expenditures are wages to employees?

fringe benefit examples and how they relate to w2 and 1099 preparation:

• Accountable vs non-Accountable Expense Reimbursement Plans
• Record keeping requirements of Sec. 274 & Accountable Plans
• 50%, 80%, and 100% Deductible Meals
• De minimis fringe benefits
• No added cost benefits
• Cash payments
• Auto allowances
• Company vehicles
• Prizes, awards, gifts

WHO WILL BENEFIT:

• CPA, EA, ATTORNEY & STAFF
• Any Officer/Manager/Employee responsible expense account maintenance, CEO, CFO
• Tax Department Management/Employee responsible for filing federal forms
• CPA staff
• Attorneys staff
• Enrolled Agents Staff
• Accounting Department Staff
• Payroll Department Staff
• Tax Department Staff
• Human Resources Staff
• Person over Accountable Expense Reimbursement Plan

SPEAKER PROFILE: 
Greta Hicks is a former IRS Revenue Agent and Regional Training Coordinator. After a time as tax manager for Ernst & Young, Greta started her own business and for 34 years her CPA practice has been limited to representing persons who have IRS problems.

Others Details

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