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.
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Why Lorman?
Over 35 years and 1.4 million customers worth of experience providing continuing education. Our passion is providing you world-class training to help you succeed in business and as a professional.
Agenda
Transfers to Employees Generally Not Gifts
- Definition of Income Under Section 61
- Section 102 - No Income Exclusion for Gifts to Employees
Fringe Benefits
- De Minimis Fringe Benefits
- Working Condition Fringe Benefits
- Cell Phones and Other Mixed Use Technology Items
- Holiday Parties
Entertainment, Meals, and Lodging
- What Is Entertainment?
- Meals
- Meals Provided for the Employer's Convenience
- Lodging Provided for Employer's Convenience
- Changes Under Tax Cuts and Jobs Act
Transportation Benefits
- No Deduction or Exclusion for Moving Expenses Under Tax Cuts and Jobs Act
- Employer-Provided Vehicles
- Transportation Fringe Benefits
- Parking Expenses
- Changes Under Tax Cuts and Jobs Act
Prizes and Awards
- Employee Achievement Awards
- Prizes and Awards Transferred to Charities
- Qualified Employee Discounts
- Holiday Gifts
Educational Benefits
- Educational Assistance Plans
- Working Condition Fringe Benefits for Job Related Expenses
- Qualified Scholarships
- Qualified Tuition Reduction
- Seminars and Other Training Involving Travel
Withholding, Reporting, and Deduction Issues
- Reportable Items on Form W-2
- Withholding Rules Applicable to Supplemental Wages
- Withholding on Non-Cash Benefits
- Limitations on Deductions for Certain Benefits to Employees
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Why Lorman?
Over 35 years and 1.4 million customers worth of experience providing continuing education. Our passion is providing you world-class training to help you succeed in business and as a professional.
Credits
OnDemand Course
This course was last revised on December 2, 2021.
Call 1-866-352-9540 for further credit information.
HR Certification Institute 1.0
- This E-Learning program has been approved for 1.0 (General) recertification credit hours toward aPHR(TM), aPHRi(TM), PHR®, PHRca®, SPHR®, GPHR®, PHRi(TM) and SPHRi(TM)recertification through HR Certification Institute® (HRCI®). For more information about certification or recertification, please visit the HR Certification Institute website at www.hrci.org.
SHRM 1.0
- Lorman Education Services is recognized by SHRM to offer Professional Development Credits (PDCs) for the SHRM-CPSM or SHRM-SCPSM. This program is valid for 1.0 PDC(s) for the SHRM-CP or SHRM-SCP.
To earn each credit Lorman offers through the OnDemand learning platform, you need to watch 100% of the program. Also, for certain credits you will need to fulfill additional requirements which will be displayed on the "credits" tab when viewing the course.
- Those applying for AIA and HRCI must view 100% of the program and answer the questions following the program.
This program does NOT qualify, nor meet the National Standard for NASBA accreditation.
MP3 Download
This program does NOT qualify, nor meet the National Standard for NASBA accreditation.
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Why Lorman?
Over 35 years and 1.4 million customers worth of experience providing continuing education. Our passion is providing you world-class training to help you succeed in business and as a professional.
Faculty
Luke D. Bailey
Clark Hill PLC
- Senior Counsel in the Collin County, Texas office of Clark Hill PLC
- Practice emphasizes all aspects of employee benefits and executive compensation
- Conducts regular seminars and workshops on numerous employee benefits and executive compensation issues
- Author of several publications related to the areas of employee benefits and executive compensation
- J.D. degree, Order of the Coif, University of California at Berkeley (Boalt Hall); A.B. degree, cum laude, Occidental College
- Can be contacted at 214-651-4572 or [email protected]
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Why Lorman?
Over 35 years and 1.4 million customers worth of experience providing continuing education. Our passion is providing you world-class training to help you succeed in business and as a professional.
All of your training, right here at Lorman.
Pay once and get a full year of unlimited training in any format, any time!
- OnDemand Courses
- Live Webinars
- MP3 Downloads
- Course Manuals
- Executive Reports
- White Papers and Articles
Additional benefits include:
- State Specific Credit Tracker
- All-Access Pass Course Concierge
Questions? Call 877-296-2169 to speak with a real person.
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