Fringe Benefits 2025 Guide – Keeping a Happy Workforce while Not incurring unnecessary Payroll and Income Tax Expenses

  • Mark Schwartz
  • 90 minutes
  • November 18, 2024
  • 01:00:00 PM (EST) | 12:00:00 PM (CST) | 11:00:00 AM (MST) | 10:00:00 AM (PST)
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SHRM & HRCI Approved Webinar | CEUs = 1.5 Credit Hours

Overview:

HRCI & SHRM Approved Webinar = 1.5 CEU Credits

Overview:

There are lots of ways to reward workers other than wages. Smart businesses understand the two-way importance of helping employees out with things like education, commute help, health and wellness, etc. The IRS also recognizes the economically stabilizing results of fringe benefits. They have categorized the many different types of benefits and set limits on which the value does not have to be taxed to the worker.

However, limitations exist on types and amounts of fringe benefits that are non-taxable to the worker. Making mistakes can result in audits, inquiries or assessments for unpaid taxes.

What will You Learn:

  • Definition of Fringe Benefits, and how to distinguish them from expense reimbursements
  • What is new for 2024, and what has been announced for 2025
  • What is excludable from taxes and what you must withhold and pay payroll taxes on
  • Types of Fringe Benefits: Adoption Assistance; Athletic Facilities; De Minimus; Dependent Care Assistance; Educational Assistance; Employee Discounts; GTL Insurance; Lodging; Meals; Moving Expense; No Additional Cost Services; Transportation; Working Condition Fringe; Moving Expenses; Awards and Prizes
  • Cafeteria Plans – what can and can’t be included
  • Use of Company Vehicles for personal use, and company use of employee’s personal vehicles.
  • How to properly value a Fringe Benefit
  • How to properly tax a fringe benefit
  • Executive Compensation – Stock Options; Deferred Compensation; Golden Parachutes; Statutorily Deductible Executive Fringe Benefits; Section 132 of the IRC
  • Rules of thumb for Fringe Benefit Administration
  • Common errors to avoid.

Why You should Attend:

Specifically, IRS auditors are focusing on executive compensation, Stock options, golden parachutes, insurance and other perks are designed to keep your high-priced executive talent in place. However, mismanagement of these benefits can subject you to not only payroll tax audits, but personal income tax audits for the executive.

Being both knowledgeable and choosy about which benefits you provide will go a long way in keeping workers motivated without breaking either your company’s or the workers’ budgets. Covid-19 has made certain choices more beneficial, as the government will pay for things like mandated sick pay. The IRS has an entire booklet on all the various types of fringe benefits. How confident are you in the proper reporting and taxability of the ones you offer, or would like to offer?

Join Mark Schwartz in this informative webinar. You will get the very latest maximum amounts and tax requirements announced for 2025, and much, much more.

Who should Attend:

  • Compensation administrators.
  • H/R and Payroll management.
  • Tax and Financial officers and staff.
  • Executives who receive a wide variety of benefits
  • Payroll Professionals
  • HR professionals
  • Accounting Personnel
  • Business Owners
  • Attorneys/ Legal Professionals
  • Operations and Departmental Managers

Mark Schwartz

Mark Schwartz

M. Swratz earned a Master’s Degree in Business Administration from Santa Clara University. He worked for 8 years as an internal auditor for private and public entities. He evaluated business operations for efficiency and effectiveness. This included regulatory compliance, financial reporting and divisions’ ability to meet and exceed goals and standards set by the organization. He evaluated CalPERS’ payroll and HR division, one of the largest such divisions in California State Government. M. Swratz has processed payrolls for approximately 1 dozen small to medium sized businesses in Sacramento. He was also a payroll tax auditor for the State of California. His most complex business included multiple shifts, overtime calculations, garnishments, wage differentials, FLSA compliance and other wage and labor issues. His payroll software is flexible to all needs of the small business community. M. Swratz has provided consultation services for 8 different national payroll webinar providers. He has a wide presence, speaking to audiences on 20 different payroll tax related topics. These include Multi-State Employment, Fringe Benefits, Audits, Root-Cause analysis, Payroll Related Fraud, and many others. This forces Philip to keep up on all the latest payroll laws and regulations in all 50 states. This ensures both accuracy in processing your payroll, but also the flexibility and knowledge to grow with your business.

Continuing Education Accreditations

Upon successful completion of this training program, attendees will receive a verified accredited CEU completion certificate. This program qualifies for professional CEU credits under licensed standard compliance regulations (including HRCI recertification credits, SHRM professional development credits, and general corporate licensing metrics).

Immediately after the course finishes, you can claim your certificate from your student dashboard, or check your registered email address for a secure PDF copy.

Don't worry! If you miss the live broadcast, contact our live support or payroll team, and we will immediately provide you with access to the On-Demand recording at no extra fee.

Yes! All continuing education webinars at CEUTrainers are fully accredited and pre-approved by the HR Certification Institute (HRCI) and the Society for Human Resource Management (SHRM).

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