Fringe Benefits – How To Keep A Happy Workforce While Not Incurring Unnecessary Payroll And Income Tax Expense
  • CODE : MARS-0011
  • Duration : 75 Minutes
  • Level : Intermediate
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Mark Schwartz is an employment tax specialist and has over 15 years of employment tax experience as an independent consultant and as a payroll tax auditor with the State of California. He has managed an audit caseload of 20 ongoing audits, from small home-based businesses to large multi-national corporations. He is expert at defining regulatory and statutory requirements from local, State and Federal government agencies; and helping the average businessperson understand what that means to their business. He has processed weekly and bi-weekly payroll checks plus tax forms for businesses with hourly as well as exempt workers, multistate operations and a wide variety of benefits.

Mr.Schwartz provides consulting services encompassing payroll processing and payroll tax issues. These include payroll tax minimization, payroll tax compliance reviews, independent contractor studies, use of electronic transfers, deductions, benefits, etc. Mark has represented both clients and the State in front of the State Appeals Board. He understands the complexities of local wage laws, unemployment and disability claims, and other wage and benefit issues affecting your employees.

Mark prides himself on his outstanding customer service skills. He listens attentively to his clientele, helping them bridge the gap between the small business world and Government bureaucracy. He eagerly assists with clients needs and feels that educating clients toward faster, accurate and more complete payroll processes provide the most value.

Mark is a participating member of the American Payroll Association. He earned his BA and MBA in Finance at Santa Clara University. He has held Certified Internal Auditor and Certified Investment and Derivatives Auditor Credentials. Mark is currently pursuing a Certified Payroll Fundamentals Credential with the American Payroll Association.

There are lots of ways to reward workers other than wages. Smart businesses understand the two-way importance of helping employees out with things like education, commute help, health and wellness, etc. The IRS also recognizes the economically stabilizing results of fringe benefits. They have categorized the many different types of benefits and set limits on which the value does not have to be taxed to the worker.

However, limitations exist on types and amounts of fringe benefits that are non-taxable to the worker. Making mistakes can result in audits, inquiries, or assessments for unpaid taxes.

Areas Covered

  • Definition of Fringe Benefits, and how to distinguish them from expense reimbursements?
  • What is new for 2021 – including COVID-19 considerations?
  • What is excludable from taxes and what you must with hold and pay payroll taxes on?
  • Types:
      - Adoption Assistance
      - Athletic Facilities
      - De Minimus
      - Dependent Care Assistance
      - Educational Assistance
      - Employee Discounts
      - GTL Insurance
      - Lodging
      - Meals
      - Moving Expense
      - No Additional Cost Services
      - Transportation
      - Working Condition Fringe
      - Moving Expenses
      - Awards and Prizes
  • Cafeteria Plans – what can and can’t be included?
  • Use of Company Vehicles for personal use, and company use of employee’s personal vehicles
  • How to properly value a fringe benefit?
  • How to properly tax a fringe benefit?
  • Executive Compensation
      - Stock Options
      - Deferred Compensation
      - Golden Parachutes
      - Statutorily Deductible Executive Fringe Benefits
      - Section 132 of the IRC

Course Level - Intermediate

Who Should Attend

Compensation administrators. HR and Payroll management. Tax and Financial officers and staff. Executives who receive a wide variety of benefits.

Why Should You Attend

Specifically, IRS auditors are focusing on executive compensation. Stock options, golden parachutes, insurance, and other perks are designed to keep your high-priced executive talent in place. However, mismanagement of these benefits can subject you to not only payroll tax audits but personal income tax audits for the executive.

Being both knowledgeable and choosy about which benefits you provide will go a long way in keeping workers motivated without breaking either your company’s or the workers’ budgets. Covid-19 has made certain choices more beneficial, as the government will pay for things like mandated sick pay.

The IRS has an entire booklet on all the various types of fringe benefits. How confident are you in the proper reporting and taxability of the ones you offer, or would like to offer?

  • $160.00



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