Paying employees is not just about wages. Today there are a myriad number of taxable and nontaxable benefits, such as gift cards, moving expenses, educational expenses, meals and travel expenses, that employers provide as part of employee’s total compensation. Particularly in difficult economic times, employers are looking to provide such benefits to employees with the least cost, both to themselves and employees. Failure to understand the tax consequences of such benefits can cause unintended and unwanted tax consequences. This live audio conference will explain the tax consequences of gifts, prizes and other awards to employees, as well as the tax issues associated with making payments to employees for fringe benefits, employer-provided travel, educational and moving expenses, tool allowances and leave-sharing programs. The focus will not be so much on the technical tax rules, but the pitfalls of such activities and practical suggestions for maximizing their tax benefits.
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