The tax implications of fringe benefits have changed significantly under the new tax law - make sure you understand the changes in determining your fringe benefit policies.
While competitive salaries often attract top employees to join an employer, employers often provide competitive and attractive prizes, bonuses, awards and other benefits as well, to boost their employees' morale and reward employees for going the extra mile.
However, employers must be aware of federal tax laws when providing these benefits, or else employers may find that these benefits are more expensive than they originally thought. This topic will help you learn the different ways that employees may be rewarded for exceptional performance, without incurring additional tax expense, or at least avoiding penalties.
Important reporting and withholding requirements to ensure that employers fully comply with their federal tax obligations will also be discussed. This material will also keep you abreast of important changes in this area under the Tax Cuts and Jobs Act.
Learning Objectives
- You will be able to review gifts to employees.
- You will be able to discuss prizes and awards.
- You will be able to describe educational benefits.
- You will be able to identify withholding, reporting and deduction issues.
This live webinar covers these hot issues
Gifts to Employees
- Definition of Income in Section 61
- Commissioner v. Duberstein
- Section 102 Prohibition on Income Exclusion for Gifts to Employees
- Exception for Gifts to Employees That Are "Natural Objects of Employer's Bounty"
Fringe Benefits
- De Minimis Fringe Benefits
- Working Condition Fringe Benefits
- Cell Phones and Other "Mixed Use" Technology Items
- Holiday Parties
Prizes and Awards
- Employee Achievement Awards
- Prizes and Awards Transferred to Charities
- Qualified Employee Discounts
- Holiday Gifts
Educational Benefits
- Educational Assistance Plans
- Working Condition Fringe Benefits for Job Related Expenses
- Qualified Scholarships
- Qualified Tuition Reduction
- Seminars and Other Training Involving Travel
Transportation Benefits
- Employer Provided Vehicles
- Transportation Fringe Benefits
- Parking Expenses
- Use of Aircraft
Meals and Lodging
- Occasional Meals
- Meals Provided for the Employer's Convenience
- Lodging Provided for Employer's Convenience
Bonuses
- Section 83 and Elections Under Section 83(B) for Transfers of Property
- Compliance With Section 409A
Withholding, Reporting and Deduction Issues
- Reportable Items on Forms W-2
- Withholding Rules Applicable to Supplemental Wages
- Withholding on Non-Cash Benefits
- Limitations on Deductions for Certain Benefits to Employees
Credit Information (Sponsored by Lorman Education Services)
- CPE
- SHRM
- NASBA
- CPP/FPC
- HR Certification Institute
For Detailed Credit Information page
click
here
Only registered attendee will receive continuing education credit.
Faculty
Luke D. Bailey, Strasburger & Price, LLP
- Partner in the Collin County, Texas office of Strasburger & Price, LLP
- Practice emphasizes all aspects of employee benefits and executive compensation
- Conducts regular seminars and workshops on numerous employee benefits and executive compensation issues
- Author of several publications related to the areas of employee benefits and executive compensation
- J.D. degree, University of California at Berkeley (Boalt Hall), 1982, Order of the Coif; A.B. degree, Occidental College, 1974, cum laude
- Can be contacted at luke.bailey@strasburger.com or 214-651-4572