Federal Income Taxation of Key Employee Fringe Benefits After the Tax Cuts and Jobs Act
Understand the important changes under the Tax Cuts and Jobs Act and the latest regulations.
While competitive salaries often attract top employees to join an employer, employers often provide competitive and attractive prizes, bonuses, awards, and other benefits 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. Review reporting and withholding requirements that ensure that employers fully comply with their federal tax obligations. This topic will also keep you abreast of important changes in this area under the Tax Cuts and Jobs Act and update you on the latest regulations.
• You will be able to identify the tax implications of fringe benefits for both employers and employees.
• You will be able to review how to determine your fringe benefit policies.
• You will be able to describe ways employees can be rewarded for performance.
• You will be able to identify important changes in this area under the Tax Cuts and Jobs Act.