In today's dynamic economic landscape, staying ahead with effective fringe benefit planning is more critical than ever for both businesses and individual clients. With evolving tax laws and shifting market dynamics, understanding the intricacies of fringe benefit planning is essential to ensure financial well-being and compliance. This course offers a comprehensive overview of essential tools and techniques tailored for financial professionals, allowing them to navigate the complexities of fringe benefit planning with confidence and precision. By attending this course, practitioners will gain invaluable insights into various planning tools and techniques essential for meeting fringe benefit planning objectives. From mastering the subtleties of employee benefit planning, including ERISA reporting and disclosure requirements, to unraveling the complexities of IRC §132 fringe benefit options, attendees will enhance their expertise to deliver superior advisory services. The curriculum also delves into the practical aspects of cafeteria plans, flexible spending accounts, group term life insurance plans, and strategies for financing retiree medical benefits, among others. With a focus on practical application and real-world scenarios, this course equips participants to tackle fringe benefit planning challenges head-on, providing them with the tools and knowledge needed to optimize benefits for both business and personal needs, now and in the future. **Please Note: If you need credit reported to the IRS for this IRS approved program, please download the IRS CE request form on the Course Materials Tab and submit to kori.herrera@acpen.com.
Learning Objectives
- Recall planning tools and techniques essential for meeting fringe benefit planning objectives
- Identify and comprehend intricate aspects of employee benefit planning, specifically focusing on ERISA reporting and disclosure requirements
- List the various options provided by IRC §132 for fringe benefit plans
- Recognize scenarios where cafeteria plans are applicable and discuss the considerations for their effective utilization
- Discuss the tax regulations governing the timing of income and deductions in the context of cash compensation planning
- Describe the tax implications associated with dependent care and educational assistance plans
- Explain how flexible spending account plans are designed and implemented effectively
- Recognize the key design features of group term life insurance plans
- Understand the regulations surrounding medical savings accounts and options for financing retiree medical benefits
- Compare health care benefits under insured plans versus HMOs
- Gain insight into the IRC common control rules and an overview of age and sex discrimination regulations
Major Topics
- Fringe Benefit Planning Fundamentals
- Strategies Tailored for Business Owners and Employees
- Navigating IRC §132 Fringe Benefit Option
- Cafeteria Plans Demystified
- Tax Management in Compensation Planning
- Understanding the Implications of Dependent Care and Educational Assistance Plans
- Implementing Flexible Spending Account Plans Effectively
- Design Features and Regulations of Group Term Life Insurance Plans
- Medical Savings Accounts Regulations
- Financing Options for Retiree Medical Benefits
- Health Care Benefits: Insured Plan vs. HMO Comparison
- ERISA Reporting and Disclosure Requirements
- IRC Common Control RulesOverview of Age and Sex Discrimination Rules
