Basic Fringe Benefits 2018 - 5 CPE Credit Hours

Basic Fringe Benefits 2018 - 5 CPE Credit Hours

Price per Unit (piece): $74.95

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This course is an overview of basic fringe benefits and examines their mechanics, compensation methods, valuation, withholding and accounting. Achievement awards, term life insurance, medical reimbursement, meals & lodging, educational assistance, dependent care, employer-provided automobiles, interest free loans, etc. are identified. Employer and employee economic and tax considerations are recognized. Fringe benefit requirements and limits are specified and ERISA compliance requirements are determined.

 

Completion Deadline & Exam: This course, including the examination, must be completed within one year of the date of purchase. In addition, unless otherwise indicated, no correct or incorrect feedback for any exam question will be provided.

 

Course Level: Overview. This program is appropriate for professionals at all organizational levels.

 

Field of Study: Taxes

 

Prerequisite: General understanding of federal income taxation.

 

Recommended Credits: 5 CPE Hours

 

Advanced Preparation: None

 

Learning Assignments & Objectives

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

ASSIGNMENT                  SUBJECT

  Chapter 4                      Basic Fringe Benefits

At the start of Chapter 4, participants should identify the following topics for study:

* Benefit mechanics

* Employee achievement awards

* Group term life insurance

* Self-insured medical reimbursement plans

* Medical insurance

* Meals & lodging

* Cafeteria plans

* Employer-provided automobile

* Adoption assistance program

* Interest-free & below-market loans

 

Learning Objectives

After reading Chapter 4, participants will be able to:

1. Recognize basic fringe benefit planning by determining “income” under §61, and identify the differences between former nonstatutory and current statutory fringe benefits created by recent cases, rulings, and tax law changes.

2. Specify the mechanics of typical fringe benefits, determine the fair market value of a fringe benefit under the general valuation rule or the special valuation rules, and identify the general accounting rule and the special two-month pour-over accounting rule.

3. Identify an “employee achievement award” under §274, and recognize the rules for group term life insurance under §79 noting how to implement proper coverage.

4. Determine the mechanics of self-insured medical reimbursement plans under §105, and specify the requirements of medical insurance under §106 noting differences.

5. Identify the rules for excluding the value of meals and lodging under §119, and “cafeteria plans” and how they operate.

6. Recognize the requirements and limits of employee educational assistance programs and dependent care assistance noting how to obtain each type of assistance.

7. Identify “no-additional-cost services” and determine what property or services are excludable from income as qualified employee discounts under §132(c), and specify exceptions to working condition fringes and de minimis fringes.

8. Determine the requirements for qualified transportation fringe benefits under §132(f), specify valuation methods for employer-provided automobiles and, identify the qualifications for the popular physical fitness exclusion, and the requirements and benefits of adoption assistance programs.

9. Recognize planning services available under §§132, 212 and 67, determine interest-free and below-market loans, identify child care benefits and corporate funded educational savings accounts, specify S corporation fringe benefits, and identify ERISA compliance requirements.

After studying the materials in Chapter 4, answer the exam questions 54 to 76.





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  • I have taken multiple courses from The CPE Discount Store.  They have great customer support and I received my certificate of completion on the same day.
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0 STARS
Poorly written, many questions were nonsensical and the material was very old. This product was noted as a 2018 version but the quiz tested us on knowledge from the mid nineties. Very, very poor course and I would not recommend it to anyone.
5 STARS
This was a very interesting & informative book. The chapters were short and well laid out.
The test followed the book easily so it was a great test to cover the material. Highly recommend!
4 STARS
I have used the CPE subscription a few times now. I find it easy to check out books from the library or buy them & then take the test. It\'s very cost effective.

My request would be for more choices to be added. I have done many of them & cannot realistically repeat. Also, the books that have short chapters or bulleted points make it easier to follow along for test purposes

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