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  • Product id  :  IQW15C8399

    Which Fringe Benefits go on W-2?

: Greta Hicks
: Thursday, April 27, 2017 | 10:00 AM PDT | 01:00 PM EDT
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: 90 Mins
: Basic
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Have your employees, employer or client asked you: 
  • What can you pay employees and it not taxable as employee wages? 
  • Why did you put my car allowance in my W-2?
  • Why are my moving expenses in my W-2?
  • Are the education expenses you paid for me taxable?
  • What kind of non-taxable benefits does your company have?
If you’ve been asked any of these questions, this is the course for you.  
Employee expense reimbursements are subject to IRS guidelines for records they want us to keep. If not handled correctly and reimbursements do not meet IRS guidelines, expenses may be disallowed as a deduction and considered compensation to those employees, leaving the employer responsible for the associated payroll taxes– plus any penalties.
Taxable and nontaxable fringe benefit are scattered throughout the Internal Revenue Code. Benefits can be hidden in Sec 274, 162, 119, 132, 127, and 82. Add in numerous Announcements, Notices and Regulations and we have a complex set of rules to follow.  
This course will concentrate on the development of an Accountable Expense Reimbursement Plan under Sec 274 and accompanying regulations plus recent pronouncements and inflation increases.
  • What are taxable and non-taxable as wages?
  • Are meal allowances nontaxable?
  • Are travel allowances nontaxable?
  • What other benefits are nontaxable wages?
  • What meals are 100% deductible and nontaxable to employees?
  • What meals are 80% deductible and nontaxable to employees?
  • What meals and entertainment are 50% deductible and nontaxable to employees?
  • Which benefits go on the W-2?
  • Do any benefits go on 1099?
  • Fringe Benefits you might be missing
  • Accountable Employee Reimbursement Plan.
  • Good documentation is a must
  • What Employee Benefits are non-taxable to employees?
  • What/When expenditures are wages to employees?
Fringe Benefit examples and how they relate to W2 and 1099 preparation:
  • Accountable vs non-Accountable Expense Reimbursement Plans
  • Record keeping requirements of Sec. 274 & Accountable Plans
  • 50%, 80%, and 100% Deductible Meals
  • De minimis fringe benefits
  • No added cost benefits
  • Cash payments
  • Auto allowances
  • Company vehicles
  • Prizes, awards, gifts
  • CPA, EA, Attorney 
  • Any Officer/Manager/Employee responsible expense account maintenance 
  • CEO
  • CFO
  • Tax Dept Management/Employee responsible for filing Federal forms
  • CPA staff
  • Attorney's staff
  • Enrolled Agent's Staff
  • Accounting Department Staff
  • Payroll Department Staff
  • Tax Department Staff
  • Human Resources Staff
  • Person Accountable for Expense Reimbursement Plan
Greta P. Hicks is a former IRS Revenue Agent and Regional Training Coordinator. After a time as tax manager for Ernst & Young, Greta started her own business and for 34 years her CPA practice has been limited to representing persons who have IRS problems. 
She is the author of "IRS Examination and Appeals Procedures" as well as, pilot tester of on-line continuing education courses for Checkpoint Learning. Greta has authored a number of continuing education courses on IRS practice & procedures and articles are regularly published on professional as well as trade magazines. Ms Hicks has traveled the US and taught Tax Update Seminars as well as various Inside the IRS topics.
Greta has been active in the Texas Society of CPAs for 40 years and has served on the IRS Relations Committee, on the Editorial Board of the TSCPAs and was the Tax Editor of Today's CPA. Her activities for the Houston Chapter of CPAs included Coordinator of Houston's IRS/Practitioner Study Group, Relations with Taxing Entities Committee, Teaching Taxes Committee, plus the Spring EXPO and Tax EXPO Committees.

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