Travel Pay – 2024 Update, Overview And Simplification Of Federal Taxation Rules
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Speaker : MARK SCHWARTZ
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When : Thursday, December 19, 2024
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Time : 01 : 00 PM EST
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Mark Schwartz is an employment tax specialist with over 25 years of payroll tax experience. He has been an employment tax auditor with the state of California. During that time he managed an audit caseload of over 25 businesses – ranging from home-based businesses to large multinational corporations. He understands the full range of employment tax law for both federal and state purposes.
For the last 15 years, Mark has helped hundreds of clients sort out confusing details in order to effectively run payroll operations. Mark prides himself on listening attentively to his clients, and not ceasing his consulting duties until the client is fully satisfied with the answers and advice.
Mark’s audio conferences are jam-packed with all details applicable to any given topic. He incorporates his experience with the laws and regulations – this gives audiences a leg up on applying the knowledge to their business. Furthermore, Mark is generous with this time for anyone who attends a live conference. He will help research anything on the given topic – free of charge.
The agenda for the webinar is:
- What is new for 2024?
- Business Income Tax overview for travel pay
- Accountable Plans – How to avoid all expense reimbursements becoming taxable wages to your workers
- The FLSA and its requirements including compensable time
- The “tax home” designation and the difference between short and long-term travel
- Per Diems and how they can make life easier for employers and employees alike
- Meals and Entertainment – how these are often abused by employees and employers?. Know the rules before getting red-flagged by the IRS
- Transportation expenses – how short-term travel is regulated?
- A/P vs payroll communication – crucial for compliance
Who Should Attend
- Payroll and HR managers and staff
- Compensation and hiring staff
- Finance and Operational managers
- Executive Staff
Why Should You Attend
The rules are many and varied. No one audio conference could possibly explain all of them. Limits and other rules are updated every year. However, basic rules of thumb can be applied to travel pay, similar to rules of thumb for all fringe benefits. In addition to the basic rules of thumb, generalizations can be made as to the following;
- Which are taxable to the worker, and which can be excluded as legitimate business expenses?
- What limits apply to which types of travel pay?
- What are the rules for accounting and documentation?
- What about business income taxes and deductibility?
- What is the delineation between short-term and long-term travel?
- What are the best practices for employers to follow?
There are many areas that require extensive discussion on the details. So Mark has spent many hours organizing, summarizing and presenting these details relevant to most businesses. The topics which are discussed in detail include:
- The FLSA – what are the oldest rules concerning travel-related expenses and what makes compensable time?
- Per Diems – what are they and when SHOULD employers use them? Where do you find applicable per diem rates given the wide range of expense costs throughout the US and its territories?
- Meals and Entertainment – When must they be taxed to the worker?
- Transportation expenses: What is considered a deductible commute expense? What is the difference in the valuation of employee use of a company car vs business use of an employee car?
As is his habit, Mark will also take questions after the presentation, and any other time you need him (via email.) So join Mark in this highly informative, updated webinar.
Topic Background
Most employers send workers out to travel for a variety of reasons. But almost every worker commutes to the office. Perhaps they travel from home on dispatch. Businesses can ask workers to travel from the office during the day for sales/service calls, errands, shopping, etc. Longer-term travel includes conferences, long-distance sales calls,, setting up stores, entertaining prospective clients, and many other purposes.
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$160.00
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