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Employee Compensation and Benefits - Mini CourseCode: 22-COMP2
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Course description and objectives:
The various ideas, methods and techniques to optimize the overall compensation package for key employees and principals are examined in this mini-course. Generally, businesses may deduct employees’ pay including wages, salaries, and other perks. Certain fringe benefits that can provide an unusually tax favored manner of supplementing compensation are described and evaluated. In addition, equity participation is explored through stock sales, repurchase agreements, incentive stock options, ESOT’s, stock options and bonuses. Finally, deferred compensation arrangements are investigated. The goal of this mini course is to provide participants with a working knowledge of types of compensation necessary to structure a compensation package minimizing tax liabilities and cost.
After reading the materials, participants will be able to:
1. Identify the twenty common-law rules used by the IRS to determine whether a person is an employee for purposes of FICA, FUTA and federal income tax withholding.
2. Recognize employee and officer compensation deductibility factors and the related employment taxes and reporting obligations to ensure compliance with regulations.
3. Analyze and compare fringe benefits to provide deductible incentive based employee compensation.
4. Explain equity incentive opportunities available to employers emphasizing the variety, tax treatment, and use of stock plans.
5. Discuss using deferred compensation agreements to attain compensation and retirement objectives.
Presentation Method: Self-Study
CPE credit: 3 Hours
Program Level: Update
Advance Preparation: None
Exam expiration date: Participants must submit exams for grading within one year from the date of purchase