Understand how to identify taxable versus nontaxable fringe benefits and administer them in accordance with the tax code.
The tax code is an ever-evolving and changing framework in which employers have to operate when providing employees with benefits as part of the employees’ compensation packages. Fringe benefits can be utilized by all types and sizes of employers to both attract and retain employees and also to reduce the employer’s portion of payroll taxes. Identifying taxable versus nontaxable fringe benefits and administering them in accordance with the tax code is essential to avoid draconian tax penalties and costly corrections. This material will help you understand the types of fringe benefits that can be offered to employees and the current taxation of those benefits so that employers can most efficiently attract and retain their most valuable resource, their employees.
Learning Objectives
- You will be able to describe the taxation of both qualified and nonqualified benefit plans.
- You will be able to discuss many different types of fringe benefits that can be provided for employees and understand how to withhold and report any required taxation.
- You will be able to explain how to utilize cafeteria plans to provide tax free benefits.
- You will be able to identify taxable versus nontaxable fringe benefits.
Agenda
Overview of Fringe Benefits
- Retirement
- Health
- Welfare
Taxable Fringe Benefits
- Bonuses
- Transportation Expenses
- Excess Group Term Life
- Relocation Benefits
- Valuation
- Reporting Requirements
Rules and Exceptions to Taxation
- Qualified Plans
- Nonqualified Plans
- Cafeteria Plans
- De Minimis Fringes
- Working Condition Fringes
- No Additional Cost Fringes
Speakers
Dannae L. Delano,
The Wagner Law Group- Partner in the St. Louis office of The Wagner Law Group
- Practice emphasizes all aspects of employee benefit compliance, planning, design and implementation and resolution of applicable tax issues regarding same
- Conducts regular seminars and workshops on all aspects of employee benefit compliance, for retirement plans, health and welfare plans, and executive compensation planning
- Wrote several publications related to employee benefit compliance issues
- Can be contacted at 314-236-0065, ddelano@wagnerlawgroup.com or www.wagnerlawgroup.com
Who Should Attend
This live webinar is designed for human resource managers, payroll professionals, benefits professionals, accountants, presidents, vice presidents, business owners and managers, bookkeepers, controllers, CFOs, and attorneys.
