This webinar provides an overview of common and some uncommon benefits and the rules governing them. It is important for employers to “get it right” with as to whether benefits may be excluded from wages, and if they must be included, comply with federal and state wage and tax withholding, deposit, and reporting requirements.
The session will cover the general rules for fringe benefits including benefits that may be excluded from employee wages as well as benefits that are fully or partially taxable. The rules for exclusion vary for different benefits and even for different taxes with regard to the same benefit. The rules are complex and can be confusing.
For taxable non-cash benefits, valuation can be a complex process and sometimes special rules apply for specific benefits. It is critical to know when to treat a benefit as provided to the employee so that the employer is compliant with tax withholding and deposit requirements.
Areas Covered
Learning Objectives
Why you should attend
Determination of the value of a fringe benefit to include in employee taxable wages can be a complex process. For some benefits, where the requirements are met, part or all of the value of the benefit may be excluded from wages. For non-cash benefits, special rules may apply when determining the value of the benefit for tax purposes. In addition, it is critical to know when to treat a benefit as provided to the employee so that the employer is compliant with tax withholding and deposit requirements.
Additional Information
Who Should Attend
Pat Haggerty is a tax practitioner, author, and educator. His work experience includes non-profit organization management, banking, manufacturing accounting, and tax practice. He began teaching accounting at the college level in 1988. He is licensed as an Enrolled Agent by the U. S. Treasury to represent taxpayers at all administrative levels of the IRS and is a Certified Management Accountant. He has written numerous articles and a monthly question and answer column for payroll publications. In addition, he regularly develops and presents webinars and presentations on a variety of topics including Payroll tax issues, FLSA compliance, information returns, and accounting.
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Credits: 1.5
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Credits: 1.5
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Credits: 1.5
Credits: 1.5
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