Fringe benefits are just another way of paying your employees. Do you know how to correctly track fringe benefits, as well as apply and report the various withholding tax rules for those fringe benefits? The IRS says fringe benefits must be included in and reported as a part of employee pay, but with any good tax law, there are always exclusions to that rule.
DESIGNED FOR
Appropriate for professionals at all organization levels, including seasoned professionals. This includes CPAs in public practice, as well as tax professionals working in industry, including those in Controller and CFO roles with limited exposure to payroll.
BENEFITS
After attending this presentation you will be able to...
- Identify what constitutes a fringe benefit
- Distinguish between taxable and non-taxable fringe benefits
- Recall changes made by the TCJA to certain fringe benefit rules
- Recognize what fringe benefits require reporting on year end W-2s
HIGHLIGHTS
The major topics covered in this class include:
- What is and what is not a fringe benefit
- Payroll tax withholding rules on taxable fringe benefits
- Payroll reporting on employee checks, payroll returns, and W-2s
- What to watch for at year end and where to go to get resources.
PREREQUISITES
None
ADVANCE PREPARATION
None