Fringe Benefits

Course Information

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Title: Fringe Benefits
Category: Taxation
Field of Study: Taxes
Course Code: T022-0172
CPE Credits: 4.0
Price: 34.95



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.

Delivery Method: Online Interactive Self Study

Level: Overview

Prerequisites: None

Advanced Preparation: None

Course Details

Category: Taxation

Field of Study: Taxes

Passing Score: 70%

Technical Details: Taxes: Technical

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1. Recognize basic fringe benefit planning by determining “income” under Section 61, and identify the differences between former nonstatutory and current statutory fringe benefits created by recent cases, rulings, and tax law changes. 2. 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. 3. Identify an “employee achievement award” under Section 274, and recognize the rules for group term life insurance under Section 79 stating how to implement proper coverage. 4. Determine the mechanics of self-insured medical reimbursement plans under Section 105, and specify the requirements of medical insurance under Section 106 identifying differences. 5. Identify the rules for excluding the value of meals and lodging under Section 119, and “cafeteria plans” and how they operate. 6. Recognize the requirements and li

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QAS: Yes

CPA: Suitable for all CPAs

IRS: IRS credit for Enrolled Agents.

Profession Identifiers: CPA, EA