This course is an overview of basic fringe benefits and examines their mechanics, compensation methods, valuation, withholding, and accounting. Achievement awards, term life insurance, medical reimbursement, meals & lodging, educational assistance, dependent care, employer-provided automobiles, interest-free loans, etc. are identified. Employer and employee economic and tax considerations are recognized. Fringe benefit requirements and limits are specified and ERISA compliance requirements are determined.
- Benefit mechanics
- Employee achievement awards
- Group term life insurance
- Self-insured medical reimbursement plans
- Medical insurance
- Meals and lodging
- Cafeteria plans
- Employer-provided automobile
- Adoption assistance program
- Interest-free and below-market loans
- Recognize basic fringe benefit planning by determining "income" under 61, and identify the differences between former non-statutory and current statutory fringe benefits created by recent cases, rulings, and tax law changes.
- Specify the mechanics of typical fringe benefits, determine the fair market value of a fringe benefit under the general valuation rule or the special valuation rules, and identify the general accounting rule and the special two-month pour-over accounting rule.
- Identify an "employee achievement award" under 274, and recognize the rules for group term life insurance under 79 stating how to implement proper coverage.
- Determine the mechanics of self-insured medical reimbursement plans under 105, and specify the requirements of medical insurance under 106 identifying differences.
- Identify the rules for excluding the value of meals and lodging under 119, and "cafeteria plans" and how they operate.
- Recognize the requirements and limits of employee educational assistance programs and dependent care assistance specifying how to obtain each type of assistance.
Non-Member Price $129.00
Member Price $99.00