Taxable and Non-Taxable Employee Business Expenses - By Compliance Global Inc.

Overview

With customers around the globe, companies are required to sent employees out to service: Thus they provide travel advances, employees incur business expenses, request reimbursement and employees are allowed use of company property.

The IRS has announced Employee Expense Reimbursement as one of the target area of a current IRS audit. Unless expense reimbursements are made under an accountable plan, the payments must be included in employee wages.

This webinar will address the differences of an accountable plan and non-accountable plan and how to report such expenses.

Insufficient documentation or faulty procedures can result in reclassification of the reimbursements as wages. This reclassification can result in additional tax and possibly penalties. An employer may even become liable for taxes it failed to withhold from the employee reimbursement.

Why Should You Attend:

Necessity of planning
How to evaluate your systems strengths and weaknesses
Will give you the knowledge you need for determination
How to limit risks and costs with making decisions
How to outline a plan
Acquire confidence to classify correctly
Common Facts, updates

Areas Covered in this Webinar:

Employee business expenses and reimbursements under the Internal Revenue Code
Accountable and non-accountable expense reimbursement plans
Substantiation and documentation required
How to control the risk of a pattern of abuse of per diem payments
Valuation and treatment of personal use of company property (vehicles, cell phones, etc.)
When expense reimbursements or use of company resources must be included in wages
Travel advance and payment card administration
The importance of timely processing of reimbursements and collection of excess advance funds
Control and accounting procedures and the roles of payroll and accounts payable
Determine whether an expense reimbursement qualifies for exclusion
Understand the importance of control and accounting procedures related to expense reimbursements
What employee expenses are taxable and which are non-taxable

Learning Objectives:

Learn how to present ideas in financial terms for greater impact
Gain confidences with figures and facts
Understand Taxable and Non-taxable Employee Business Expenses
How to increase your competitive position by understanding these areas
How to analyze Performance and Decision making
How to evaluate your current systems strengths and weaknesses
Learn Best Practices

Who Will Benefit:

Payroll Supervisors and Personnel
Accounts Payable Supervisors and Personnel
Public Accountants/ Internal Auditors
Employee Benefits Administrators
Officers, Owners and Managers
Company/ Business Owners
Managers/ Supervisors
Public Agency Managers
Audit and Compliance Personnel
Risk Managers

Speaker Profile:

David Sanders is considered one of the world’s leading experts/trainers in accounting, finance, accounts payable, accounts receivable, budgeting, collections, cost accounting, personal finance, personal income taxes, business taxes, business set up, sales & use taxes, internal controls, inventory management, cycle counting, record keeping and vendor, supplier management. He has continuous requests to train employees and to hold public seminars. He has conducted approximately 10,000 training sessions, including public seminars, on-sites, company training, chamber of commerce's, colleges, training videos, CD's and webinars worldwide.

For more detail please click on this below link:

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