Maximizing Fringe Benefits: Strategies for Business and Personal Needs in 2024 and Beyond

Overview

As a result of changes in the economy and tax laws, effective fringe benefit planning has become crucial for businesses and individual clients alike. There are various tools and techniques available to meet a client’s fringe benefit planning needs. This course offers an overview of these tools and techniques and equips practitioners with the knowledge needed to utilize them effectively. Additionally, the course covers complex areas of employee benefit planning, including ERISA reporting and disclosure requirements.

Highlights

Overview of the fringe benefit planning process. Understanding the needs of business owners and employees. Options available under IRC Schedule 132 fringe benefit plans. Cafeteria plans: when to use them. Tax rules governing timing of income and deductions in cash compensation planning. Tax implications of dependent care and educational assistance plans. Flexible spending account plans: design and implementation. Design features of group term life insurance plans. Medical savings accounts: regulations and usage. Various options for financing retiree medical benefits. Comparison of health care benefits under an insured plan versus an HMO. In-depth overview of major ERISA reporting and disclosure requirements. Understanding IRC common control rules. Overview of age and sex discrimination rules.

Prerequisites

None

Designed For

CPAs, EAs, attorneys, and financial planners

Objectives

At the end of this course, you will be able to: Compare a variety of planning tools and techniques to meet a fringe benefit planning objective. Compare complex areas of employee benefit planning, including ERISA reporting and disclosure requirements