Fringe Benefits in 2020

Event Information
Product Format
Prerecorded Event
Dayna J. Reum, CPP, FPC
60 minutes
Product Description

Fringe Benefits for 2020: What You Need to Know


Fringe benefits are a key part of your workforce compensation strategy, but they are also an area of focus for the Internal Revenue Service. IRS rules dictate everything from calculation methods to what’s excludable and how fair market value is determined. On top of all this, the Tax Cuts and Jobs Act impact fringe benefits as well. Put simply, this is a key area you can’t ignore.

Join payroll specialist Dayna Reum in this detail-packed webinar as she equips you to understand how the IRS views fringe benefits and their taxation, what’s exempt, and what’s taxable. Companies are providing their employees with more benefits than ever before, and the IRS has used that to have more say in what is taxed and what isn’t. It’s imperative that you understand tax implications before you offer fringe benefits and know how they are treated by the IRS when they are put in place.

After attending this live audio event, you will know how to calculate the value of a non-cash fringe benefit, what fringe benefits are excludable, and how they are recorded. You will also know all about fair market value and how the IRS determines it, and you will know about no-additional-cost services and employee discounts.

Session Objectives

  • How to calculate the value of a non-cash fringe benefit
  • Review of excludable fringe benefits
  • How the Tax Cuts and Jobs Act impacted fringe benefits
  • Procedures for recording fringe benefits
  • Year-end best practices for fringe benefit taxation
  • All about fair market value and how the IRS determines it
  • A discussion of no-additional-cost services, employee discounts, working condition fringe benefits, and de minimis fringe benefits

Session Highlights

  • A review of qualified transportation benefits
  • Discussion of the benefits that are taxable
  • Discussion of excludable benefits such as retirement planning, athletic facilities, and achievement awards
  • A review of moving and relocation expenses
  • A review of executive taxation items like spousal travel and company aircraft usage
  • How a benefit should be handled once it is determined taxable

Who Should Attend

  • Payroll officers
  • Tax professionals
  • Personnel managers
  • Hiring managers
  • CEOs
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About Our Speaker

Dayna J. Reum | Payroll Tax Speaker

Dayna is currently the Payroll Tax Manager at PetSmart Inc. Dayna has been heavily involved in the payroll field over 15 years. Starting as a payroll clerk at a small Tucson company, Dayna moved on to be a Payroll Team Leader at Honeywell Inc. During Dayna’s time at Honeywell she obtained her FPC (Fundamental Payroll Certification) through the American Payroll Association. She also received several merit awards for...   More Info
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