Taxable Nontaxable Employee Benefits
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9/19/2021 1 Taxable & Nontaxable Employee Benefits PRESENTED BY ANITA ROBINSON EA, NTPI FELLOW 1
Transcript of Taxable Nontaxable Employee Benefits
9/19/2021
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Taxable & NontaxableEmployee Benefits
PRESENTED BY
ANITA ROBINSON EA, NTPI FELLOW
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After finishing our Chinese food, my husband and I cracked open our fortune cookies.
Mine read “Be quiet for a little while”
His read “Talk while you have a chance”
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Housekeeping
Volume
Handouts
Polling Questions
Final Exam
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• Accident & Health Benefits
• Health Savings Account (HSA)
Benefits offered through Cafeteria Plans
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• Dependent Care Assistance
§125 FSA Temporary Special Rules
• Annual contribution limits are indexed to inflation with a “use it or lose it” provision with a limited carry forward amount of $550 for tax year 2020
• CCA of 2021 expands the carryover period for 2020 and 2021 and allows employers to extend the grace period from 3 months to 12 months.
• Dependents who have “aged out” – children over 12 years old – will be treated as if still 12 years old in the subsequent year.
Benefits offered through Cafeteria Plans
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• Flexible Health Spending Account
Benefits offered through Cafeteria Plans
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• Meals & Lodging
Benefits without Cafeteria Plans
Food & beverages provided by a restaurant100% deduction for meals 1/1/2021 – 12/31/2022
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• Transportation Benefits
Benefits without Cafeteria Plans
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• Achievement Awards
Other Employee Benefits
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• Athletic Facilities
• Health Reimbursement Arrangements (HRA)
Other Employee Benefits
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IRS Publication 15
Special Rules for Various Types of Fringe Benefits
Special Rules for Various Types of Services & Payments
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