1040 Preparation and Planning: Gross Income: Employee Compensation and Fringe Benefits (Currently Unavailable)

Author: Barbara Weltman, Sidney Kess

CPE Credit:  2 hours for CPAs
2 hours Federal Tax Law for CTEC
2 hours Federal Tax Related for EAs and OTRPs

This interactive on-demand course, the fourth in the series, covers gross income and discusses entries on Form W-2 as it relates to the income tax return. It also identifies various inclusions and exclusions, such as the foreign income exclusion; and meals, lodging, retirement plan contributions, life insurance, medical insurance, and other benefits provided by employers.

Publication Date: December 2016

Designed For
Tax practitioners

Topics Covered

  • Form 1040
  • Gross income
  • Inclusions and exclusions
  • Reporting wages and benefits
  • Taxable benefits
  • Benefits excluded from income

Learning Objectives

  • Report compensation in whatever form it is paid
  • Discuss entries on Form W-2 as it relates to the income tax return
  • Identify various types of employee benefits plans
  • Recognize which benefits are taxable and which benefits are excludable from income

Level
Basic

Instructional Method
Self-Study

NASBA Field of Study
Taxes (2 hours)

Program Prerequisites
None

Advance Preparation
None

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