About This Course:
Executive taxation questions are a continuous struggle for organizations seeking ways to promote and keep key talent in their organizations.
Many organizations must determine the fine line of what is best/competitive/legal. For instance, should we give leadership/executive teams cars, tax planning, personal travel, or other fringe benefits versus just compensation?
Because of these complex issues, it has become critical for payroll professionals to understand special payment and or deductions that executive teams could be receiving - as well as the tax implications of such benefits.
This training session provides a detailed review of executive payments and/or deductions - plus the best methods to handle the taxation of such payments.
What You'll Learn:- Overview of company car and taxation methods
- Details of aircraft usage for personal reasons versus business
- Different types of reimbursements such as insurance premiums, personal travel, tax planning and preparation fees, etc.
- Relocation taxation and the distance test
- Review of stock options, incentive stock options, restricted stock, etc.
- Bonuses: how they should be taxed
- How deferred compensation plans work for executive
- Termination pay options for executives
- Year end reporting concerns - and what to watch out for
Top FAQs
Compensation planning is the process of defining and implementing the strategies that will be used to attract, motivate, and retain talent to help an organization meet its operating objectives and employee needs.
Some of the work involved in developing a Compensation Plan includes analyzing and evaluating jobs, performing market surveys, writing job descriptions, and communicating and evaluating your plan.
Yes. Certain types of Compensation Plans do require a written plan document, plus have certain notice and reporting requirements.
ERISA does not require any employer to establish a retirement plan. It only requires that those who establish plans must meet certain minimum standards.
A Compensation Plan consists of the salary, wages, commissions, benefits, and perqs paid to attract and retain employees.
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