Fringe Benefits

CPE Credit: 1 hour

Participants will walk away with a better understanding of the IRS view on fringe benefit taxation. The details of the IRC exemptions allowed by the IRS will be detailed and explained to participants. Also, participants will be able to better identify and calculate the fair market value of fringe benefits for taxation purposes.

Topics Covered

• Review Fair Market Value and how the IRS determines it
• Discussion on No additional cost services, employee discounts, working condition fringe benefits & De Minimis Fringe Benefits
• Review qualified transportation benefits
• Discuss a number of excludable fringe benefits such as Retirement planning, Athletic facilities, achievement awards, etc
• Discuss fringe benefits that should be taxable
• Review moving/relocation expenses
• Review executive taxation items, like spousal travel, company aircraft usage, etc

Learning Objectives:

• Be able to better identify and calculate the fair market value of fringe benefits for taxation purposes
• Know how to handle a taxable benefit
• Know how to handle any fringe benefits that AP pay