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In this course we discuss fringe benefits that are and are not subject to taxation, and the IRS guidelines used to make that determination.

We start with a brief overview of fringe benefits. From there we discuss IRS codes used for fringe benefits. This leads to a conversation about taxable vs. non-taxable fringe benefits. Then we work through examples of fringe benefits being provided to an employee by employer. Then we review transactions and discuss how the taxes are calculated for fringe benefits as to an employee being taxed or an employer grossing up taxation.

This course is a review for accounting and payroll professionals who need to sharpen their fundamental understanding of fringe benefits and how they translate into taxable or non-taxable income for employees.

Learning Objectives

  • Recognize fringe benefits and their taxability
  • Identify the concepts of Gross Income and Fair Market Value
  • Explore additional employer provided benefits and taxability
  • Identify other payments to employees and their effect on taxable earnings
  • Explore the reporting and withholding of taxes on taxable cash and non-cash fringe benefits
Last updated/reviewed: June 13, 2018

26 Reviews (84 ratings)Reviews

2
Anonymous Author
The instructor shared a lot of good information and examples; however, a good amount of that information was not included in the slides. This made the slides rather useless.
3
Member's Profile
The course was a little slow, and the questions at the end were very specific and mostly not very relevant. I'm pretty sure one of them was not even covered in the course.
3
Member's Profile
More slides with detail would have been helpful. A few times the instructor went off talking about things that weren’t necessary to be mentioned.
3
Anonymous Author
This is good information and a good review from when I took the CPP exam. There were parts where it seemed like the instructor was reading to us.
5
Member's Profile
An excellent overview of the difference between taxable and non-taxable fringe benefits. Pay close attention to what is and isn't excludable!
4
Member's Profile
the slides were not legible when printed because it came out white letters on white background. not sure if issue is on my end.
5
Anonymous Author
Good to remember that certain items are taxable to employees. companies often forget the rules or at least choose to
4
Member's Profile
liked the course - would like to hear about best methods for gathering the information to tax the employee.
5
Member's Profile
Great overview of what is and is not taxable. Not being familiar with payroll, it was very informational.
3
Member's Profile
More examples of taxable vs. nontaxable scenarios, like what we received in the exam would be nice.
5
Member's Profile
The instructor goes at good pace giving you enough examples and time to understand the material.
4
Member's Profile
it's good and convenient for those people who work with company that don't reimburse expenses.
4
Anonymous Author
The examples provided made it better to follow the information provided by the instructor.
4
Member's Profile
Would have liked a little more detail around company provided food, cell phone, etc.
3
Member's Profile
Thank you for the explanation of Fringe Benefits. It was helpful and informative.
3
Anonymous Author
language wasn't as free flowing and was a bit choppy but otherwise course was good
5
Member's Profile
Very are to read the PDF, class overall is a great topic for payroll.
3
Anonymous Author
I would have preferred discussion on more types of fringe benefits.
Anonymous Author
Kind of boring and monotonous but good information on the subject.
4
Anonymous Author
Good info, slides would have been more helpful with more detail.
5
Member's Profile
Moved at a reasonable pace and was very understandable.
Member's Profile
A very basic overview of fringe benefits.
4
Member's Profile
I thought there would more details.
4
Member's Profile
Good coverage of all possibilities.
Anonymous Author
ds
4
Anonymous Author
ok

Prerequisites

Course Complexity: Intermediate

No advanced preparation or prerequisites are required for this course.

Education Provider Information

Company:
Illumeo, Inc., 75 East Santa Clara St., Suite 1215, San Jose, CA 95113
Contact:
For more information regarding this course, including complaint and cancellation policies, please contact our offices at (408) 400- 3993 or send an e-mail to .
Course Syllabus
INTRODUCTION AND OVERVIEW
  1:42Introduction to Fringe Benefits? Are They Taxable or Non-Taxable Income to the Employee?
Fringe Benefits
  9:42Fringe Benefits: Compensation/Gross Income and Fair Market Value
  7:56Non -Taxable Fringe Benefits
  9:48Non -Taxable Fringe Benefits (Continued)
  11:21Imputed Income
CONCLUSION
  6:46Other Payments and Course Summary
Continuous Play
  47:15Fringe Benefits? Are They Taxable or Non-Taxable Income to the Employee?
SUPPORTING MATERIALS
  PDFSlides: Fringe Benefits
  PDFFringe Benefits Glossary/Index
REVIEW and TEST
  quizREVIEW QUESTIONS
 examFINAL EXAM