Course "Fringe Benefits Taxation" has been pre-approved by HRCI as eligible for 1 credits towards a participant's recertification upon full completion.
*The use of this seal is not an endorsement by the HR Certification Institute of the quality of the program.
Overview of the webinar
Participants will 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. Companies are providing more fringe benefits to employers now 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.Be able to better identify and calculate the fair market value of fringe benefits for taxation purposes.
Area Covered In The Webinar
- Internal Revenue Code and how to understand how fringe benefits are written
- Review taxation of a home office and other COVID related benefits
- Participants will be able to better identify and calculate the fair market value of fringe benefits for taxation purposes
Why should you attend?
- How to calculate the value of a non-cash fringe benefit
- Review of excludable fringe benefits
- Details of how the tax cuts and jobs act impacted fringe benefits
- Procedures for recording fringe benefits
- Year-end best practices for fringe benefit taxation
- 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
- 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.
Who Will Benefit?
- Payroll
- HR
- Compensation Professionals
About the speaker
Years of Experience: 17+ years
Dayna Reum ,CPP, FPC is currently the Payroll Tax Manager at PetSmart Inc. She has been heavily involved in the payroll field over 15 years. Starting as a payroll clerk at a small Tucson company, She moved on to be a Payroll Team Leader at Honeywell