Home
0
Home
Use Landscape to see Search/Filter
Item Types:
Field of Study:
Authors:
CPE Hours:
Keyword:
Hide left panel Collapse Menu
Show left panel
Recent Searches
No recent searches found.
Recent Searches
No recent searches found.
Course Details

Employee Compensation and Benefits - Tax Mini Course (Course Id 825)

Updated / QAS / Registry / EA   Add to Cart 
Author : Danny C Santucci, JD
Status : Production
CPE Credits : 4.0
IRS Credits : 4
Price : $39.95
Passing Score : 70%
Primary Subject-Field Of Study:

Taxes - Taxation for Course Id 825

Description :

The various ideas, methods, and techniques to optimize the overall compensation package for key employees and principals are examined in this mini-course. Generally, businesses may deduct employees' pay including wages, salaries, and other perks. Certain fringe benefits that can provide an unusually tax favored manner of supplementing compensation are described and evaluated. In addition, equity participation is explored through stock sales, repurchase agreements, incentive stock options, ESOT's, stock options, and bonuses. Finally, deferred compensation arrangements are investigated. The goal of this mini course is to provide participants with a working knowledge of types of compensation necessary to structure a compensation package minimizing tax liabilities and cost.

Usage Rank : 0
Release : 2017
Version : 1.0
Prerequisites : General understanding of federal income taxation.
Experience Level : Overview
Additional Contents : Complete, no additional material needed.
Additional Links :
Advance Preparation : None.
Delivery Method : Self-Study
Intended Participants : Anyone needing Continuing Professional Education (CPE).
Revision Date : 17-Aug-2017
NASBA Course Declaration : Participants must complete the final examination within one year of purchase and with a minimum passing grade of 70% or better to receive CPE credit unless otherwise noted on the Course History page (i.e. California Ethics must score 90% or better). After logging in click on the Course History links on your My Courses page for the Begin date and Expire date for the Final Exam.
Approved Audience :

NASBA QAS - NASBA Registry - IRS Enrolled Agents - 825

Keywords : Taxes, Employee, Compensation, Benefits, Tax, Mini, Course, cpe, cpa, online course
Learning Objectives :

As a result of studying the assigned materials, you should be able to meet the objectives listed below.

ASSIGNMENT
    At the start of the materials, participants should identify the following topics for study:
      * Wages, salary & pay
      * Tests for deducting pay to employees
      * Selected types of compensation
      * Payroll taxes
      * Selected fringe benefits
      * Interest-free & below-market loans
      * Equity participation
      * Advantages of nonqualified deferred compensation
      * Funded company account plans
Learning Objectives:
    After reading the materials, participants will be able to:
      1. Identify the common-law rules used by the IRS to determine whether a person is an employee for purposes of FICA, FUTA and federal income tax withholding.
      2. Recognize employee and officer compensation deductibility factors and the related employment taxes and reporting obligations to ensure compliance with regulations.
      3. Identify fringe benefits noting those that provide deductible incentive based employee compensation.
      4. Specify the equity incentive opportunities available to employers showing the variety, tax treatment, and use of stock plans.
      5. Recognize the use of deferred compensation agreements to attain compensation and retirement objectives.
Course Contents :

Chapter 1 - Employee Compensation and Benefits

 

Wages, Salary & Pay

Employee vs. Contractor Status

Factors

Tests for Deducting Pay to Employees

Test #1 - Reasonableness

Overall Limitation

Allowance of Deduction

Limitation on Accrual Deduction

Employment Contracts

Scope of Examination

Officers Compensation

Factors

Employees Qualifications

Size of the Business

Employees Compensation History

Unreasonably Low Salaries

Past Service

Reasonable Dividends

Bonuses as Constituting Dividends

Payback Agreements

Miscellaneous Factors

Test #2 - For Services Performed

Employee-Shareholder Salaries

Selected Types of Compensation

Awards

Bonuses

Employee Gifts of Nominal Value

Education Expenses

Fringe Benefits

Life Insurance Coverage

Welfare Benefit Funds

Loans or Advances

Property

Restricted Property

Sick & Vacation Pay

Payroll Tax Withholding & Reporting

Form 941

Deposit Rules

Lookback Period

Monthly Depositor

Semi-Weekly Depositor

One-Day Rule

Form W-4

Whistle-Blowing

Form W-2

Form W-3

Social Securitys Payroll Taxes or FICA - 3111 & 3121

Rates

FUTA - 3301 & 3306

Form 940

Selected Fringe Benefits

Old Dichotomy - Statutory v. Nonstatutory

Fringe Benefit Provisions

TRA 84 - 132

Discrimination

Only Statutory Benefits

No-Additional-Cost Services - 132(b)

Covered Employees

Line of Business Requirement

Definition

Qualified Employee Discounts - 132(c)

Manner of Discount

Real Estate & Investment Property Exclusion

Amount of Discount

Working Condition Fringes - 132(d)

Covered Employees

Exceptions

Substantiation

De Minimis Fringes - 132(e)

Subsidized Eating Facilities

Employee Achievement Awards - 74(c) & 274(j)

Exclusion

Definition of Employee Achievement Awards

Qualified Plan Award

Employer Deduction Limits

Aggregation Limit

Special Partnership Rule

Employee Impact

Group Term Life Insurance - 79

Dependent Care Assistance - 129

Amount of Assistance

Requirements

Conflict with Dependent Care

Cafeteria Plans - 125

Definition

Qualified Benefits

Non-Qualified Benefits

Controlled Group Rules

Salary Reduction Plans

Nondiscrimination

Meals & Lodging - 119

Income Exclusion

Convenience of Employer

Self-Insured Medical Reimbursement Plans - 105

Allowable Expenses

Requirements

Benefits

Exposure

Employee Educational Assistance Programs - 127

Employer Provided Automobile - 61 & 132

General Valuation Method

Annual Lease Value Method

Computation

Cents per Mile Method

Commuting Value Method

Interest Free & Below-Market Loans - 7872

Permissible Discrimination

Employee Needs

Imputed Interest

Types of Loans

Demand Loans

Term Loans

Application of 7872 and Rate Determinations

Summary

Moving Expenses - 217

Employer-Provided Retirement Advice & Planning - 132

Financial Planning - 67 & 212

Popularity

Taxation

Tax Planning - 67 & 212

Taxation

Estate Planning - 67 & 212

Physical Fitness Programs - 132(h)(5)

ERISA Compliance

Welfare Plans

Additional Requirements

Equity Participation

Stock Sales or Unrestricted Stock Plan

Stock Plans

Stock Bonus

ESOT

Phantom Stock

Advantages

Comparison with Profit Sharing Plans

Repurchase or Restricted Stock Agreement

Stock Options

Section 83

Risk of Forfeiture

Election

Stock Appreciation Rights Plans

Tandem Plans

Qualified Incentive Stock Option

Requirements

Nonqualified Deferred Compensation

Postponement of Income

Advantages

IRS Scrutiny & Approval

Nondiscrimination

ERISA

Funding

No Immediate Cash Outlay

Annual Report

Notice Requirement

Purposes

Benefit Formula

Incentive

Deferred Bonuses

Tax Status

Services Position

Rationale

Constructive Receipt

Beyond Actual Receipt

Simple Set Asides Are Not Possible

Revenue Ruling 60-31

Regulations

Time & Control Concept

Control

Timing

Economic Benefit

Has Something of Value Been Transferred?

Insurance Coverage Has a Calculable Value

Segregated Funds Have Immediate Economic Value

General Principles

Unfunded Bare Contractual Promise Plan - Type I

Risk

Funded Company Account Plan - Type II

Ownership & Segregation

Bookkeeping Reserve or Separate Account

Employee Bears Economic Risk

Limited Protection

Investment of Deferred Amounts

Life Insurance

Premiums

Third Party Guarantees

Segregated Asset Plan - Type III

Section 83 Approach

Tight Rope Format

Transferable or Not Subject To A Risk of Substantial Forfeiture

Substantial Restrictions

Redemption or Forfeiture

Condition Related to a Purpose of the Transfer

Noncompetition

Consultation

Time Alone is not Enough

Realization & Taxation

30-Day Election Period

Deduction Allowed

Timing

Withholding

Tax Consequences

Reciprocal Taxation/Deduction Rule

No Difference for Cash or Accrual

Separate Accounts for Two or More Participants

Income Tax on Employer Held Assets

 

Glossary

Taxes Course 825 Home: https://www.cpethink.com/tax-cpa-courses
Thank you for taking one of our free courses. We would like to be able to let you know when we add free courses or have special offers and will never spam you or share your address with anyone. If you are Ok with that please reply with "Ok" or if not please reply "No Thanks". Either way enjoy your free CPE course.
  
Exam completed on .

Do you want to add the course again?