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Employee Expense Reimbursement for 2024: Guide to IRS Compliance Incorporating the TC&JA

Duration:
75 Minutes
Access:
6 months
Webinar Id:
35917
Register Now

Recorded Version

$199. One Participant
$399. Group Attendees

Group Attendees: Any number of participants

Recorded Version: Unlimited viewing for 6 months ( Access information will be emailed 24 hours after the completion of live webinar)

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1-hour educational program = 1 PDC.
1-hour and 15 minute concurrent conference session = 1.25 PDCs.
3-hour e-learning course = 3 PDCs.
 Overview:

Employee expense reimbursements that aren't handled accurately can wind up being disallowed as expenses , or even considered as compensation by the IRS.

If this happens, your company is on the hook for paying the associated payroll taxes - costing you more money as well as any penalties! You need to make sure your reimbursements are truly considered nontaxable, and that's a real challenge for even seasoned payroll pro's.

Don't take chances with your expense reimbursement plan for employees and independent contractors. Join our live, 75-minute webinar to discover:
  • What makes an "Accountable Plan" - Guidelines to help you in 2024
  • Your options for calculating and reporting taxable expenses to the IRS
  • Keys to taxing reimbursements: What's an expense vs. compensation
  • High on the audit list: Detailed rules for specific reimbursement types
  • How to avoid employee fraud - red flags and what to watch out for
  • Much, much more

Why should you Attend: At the end of the presentation, you will be able to understand, explain, and evaluate your business for compliance with the following:

  • IRS Rules for Employee & Independent Contractor Expense Reimbursement
    • IRS reimbursement requirements for taxing employee expenses
    • Expense reimbursement plans: Accountable vs. non-accountable
    • Stay off the audit list: Rules on specific types of reimbursement
  • Payroll Requirements for Reimbursements: Expense vs. Compensation
    • Tips & tools to calculate taxable expenses - before the IRS does!
    • Payroll taxation considerations: When reimbursements count as income
    • Personal use of company property: Vehicles, cell phones and more
  • Best Practices for Processing and Documenting Expenses: Your Key to Preventing Fraud
    • Substantiation and documentation: Excluding reimbursement from wages
    • Identifying employee fraud: Clear warning signs to be aware of
    • Methods for timely processing and collection of excess advance funds
  • Live Question & Answer Session - Have your questions answered by the expert!

Areas Covered in the Session:
  • Define and present the general rules about what makes expense reimbursements taxable for payroll, and what are excluded from payroll taxes
  • Determine whether or not your expense reimbursement policy reflects the information necessary for your employees to get you the information you need, without being overly burdensome
  • Evaluate some specific types of expense reimbursements that your company regularly processes for workers, and determine if you are valuing and taxing them as appropriate
  • Recognize the signs of employee fraud perpetrated in employee expense reporting

Who Will Benefit:
  • Payroll Management and Staff
  • Dept Managers
  • Human Resource Professionals
  • Accounts Payable Staff and Management
  • Accountants and Finance Personnel
Instructor:

Mark Schwartz is an employment tax specialist and has over 15 years of employment tax experience as an independent consultant and as a payroll tax auditor with the State of California. He has managed an audit caseload of 20 ongoing audits, from small home-based businesses to large multi-national corporations. He is expert at defining regulatory and statutory requirements from local, State and Federal government agencies; and helping the average businessperson understand what that means to their business. He has processed weekly and bi-weekly payroll checks plus tax forms for businesses with hourly as well as exempt workers, multistate operations and a wide variety of benefits.

Mr.Schwartz provides consulting services encompassing payroll processing and payroll tax issues. These include payroll tax minimization, payroll tax compliance reviews, independent contractor studies, use of electronic transfers, deductions, benefits, etc. Mark has represented both clients and the State in front of the State Appeals Board. He understands the complexities of local wage laws, unemployment and disability claims, and other wage and benefit issues affecting your employees.

Mark prides himself on his outstanding customer service skills. He listens attentively to his clientele, helping them bridge the gap between the small business world and Government bureaucracy. He eagerly assists with clients needs and feels that educating clients toward faster, accurate and more complete payroll processes provide the most value.

Mark is a participating member of the American Payroll Association. He earned his BA and MBA in Finance at Santa Clara University. He has held Certified Internal Auditor and Certified Investment and Derivatives Auditor Credentials. Mark is currently pursuing a Certified Payroll Fundamentals Credential with the American Payroll Association.


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