Companies are providing more fringe benefits and additional pay to employers more than ever before. Due to the COVID-19 pandemic many large city markets and the demands that employees have of employers is changing what compensation and benefits we are providing. However, the IRS stand on taxation has been slow to rule on specific new types of compensation on benefits. This leaves employers trying to navigate the taxable nontaxable question.

Participants will walk away with a better understanding of the IRS view on taxation. The details of the IRC exceptions allowed by the IRS will be detailed and explained to participants. Participants will be able to better identify and calculate the fair market value of fringe benefits for taxation purposes. Along with understand how to analyze based on IRC how to best determine taxation

Topics Covered:

• · Review FMV (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 several 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.

  · Once a benefit is determined taxable, how to handle it

  · Brief overview of how to handle any fringe benefits that AP pay.

  · Highly compensated taxation such as stock options, company aircraft usage and company car.