Design and Taxation of Low and No Cost Fringe Benefits
De Minimis, No-Additional-Cost, Transportation, and Other Budget-Friendly Benefits
The Code offers a variety of ways to provide inexpensive or even no-cost fringe benefits to employees without triggering taxes. In tough economic times, it makes a lot of sense for employers, service providers, and advisors to look closely at those benefits and consider whether the opportunities they present are being used to full advantage. And now that the IRS is actually auditing fringe benefits, it is even more important to know and follow the rules. This 90-minute web seminar will look at a variety of fringe benefits, some common but misunderstood, and others that are less well known, to help you consider the possibilities.
Originally presented on January 26, 2012.
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Here’s some of what was covered:
- The multi-part test for de minimis fringe benefits and the dollar threshold myth.
- How tax savings allow a qualified transportation plan to provide real value to employees at little or no net cost to the employer.
- What qualifies as a no-additional-cost service, and why employers with multiple lines of business must limit the services offered for free or at reduced cost to their employees.
- The limits on qualified employee discounts, how they differ for property and services, and which employees will qualify.
- Wellness and other rewards that may create unexpected tax problems because they do not qualify for any exclusion.
- IRS employment tax audits targeting fringe benefits.
Speakers: Cheryl Risley Hughes and John W. Haine. Ms. Hughes is an attorney, Of Counsel with the Groom Law Group, Chartered, in Washington, D.C., a Contributing Author of EBIA’s Consumer-Driven Health Care and Fringe Benefits manuals, and a Contributor to EBIA’s Health Care Reform manual. Mr. Haine is an attorney and Senior Editor at EBIA. He is a Contributing Author and Editor of EBIA’s Consumer-Driven Health Care manual and EBIA’s Fringe Benefits manual.
Handouts: A handout of the seminar slides and other information is provided through download.
- Accessing the recorded web seminar: After you purchase a recorded web seminar, you will receive an email with access information. You and your co-workers (not clients or others, please) may then view the recording as many times as you wish for 60 days. An Internet connection is required to view the recording; it can be stopped and started as needed and has a table of contents for easy navigation.
- Recordings are accurate as of the date presented: Our recordings are accurate as of the presentation date of the live seminar. We supplement handout materials with articles from the EBIA Weekly covering significant later developments. You must check the table of contents at your access link for updates before viewing a recorded seminar.
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System Requirements for Recorded Web Seminars
EBIA uses WebEx technology for the seminar.