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
Anyone who handles payroll, HR professionals, tax professionals working with businesses
BENEFITS
After attending this presentation you will be able to...
- Identify what constitutes a fringe benefit, and how to determine if it is taxable to your employee
- Realize how to get up-to-date changes made by the TCJA to the fringe benefit rule
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
COURSE LEVEL
Basic
PREREQUISITES
None
ADVANCE PREPARATION
None