RET.11.HO.13 - 2015MoneyEducation 11th Edition RETIREMENT...

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© 2015 Money Education Retirement Planning, 11th Ed. Chapter 13 1 © 2015 Money Education CH 13 | Employee Benefits: Fringe Benefits 1 Retirement Planning and Employee Benefits CHAPTER 13: EMPLOYEE BENEFITS: FRINGE BENEFITS 11 th Edition RETIREMENT PLANNING AND EMPLOYEE BENEFITS Michael A. Dalton | James F. Dalton © 2015 Money Education CH 13 | Employee Benefits: Fringe Benefits 2 Retirement Planning and Employee Benefits Chapter 13: Learning Objectives 1. State the rule that unless an employer provided fringe benefit is specifically excluded by the IRC, it is taxable income. 2. Provide a general definition or description of a fringe benefit. 3. Identify the most important fringe benefits. 4. Know that if a fringe benefit is provided by the employer to the employee, and it is not excludible it is compensation and generally subject to both income and payroll taxes. 5. Be aware that most excludible fringe benefits have a non-discrimination requirement. 6. Be aware that employer provided fringe benefits can benefit a wide range of persons beyond the employee, including spouse, dependents, retired persons, directors, and in some cases independent contractors. 7. State the rules for exclusion of meals, lodging, athletic facilities, dependent care programs, no additional cost services, qualified employee discounts, working condition fringes, de minimus fringes, qualified moving expenses, adoption assistance, prizes and awards, and other fringe benefits when provided by employer to employee. 8. Know how fringe benefits are valued. © 2015 Money Education CH 13 | Employee Benefits: Fringe Benefits 3 Retirement Planning and Employee Benefits Fringe Benefits A form of compensation where a benefit other than customary taxable wages is provided to an employee for the performance of services for an employer
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