Employers often use fringe benefits as a way to attract and keep great employees and to provide compensation for employees who may already have a high salary. what were some of the fringe benefits that your employer provided? Would these benefits be taxable or not taxable? If your past employers did not offer fringe benefits, what would you have liked to see them offer?

Employers often use fringe benefits as a way to attract and keep great employees and to provide compensation for employees who may already have a high salary. what were some of the fringe benefits that your employer provided? Would these benefits be taxable or not taxable? If your past employers did not offer fringe benefits, what would you have liked to see them offer?

Personal Finance

13th Edition

ISBN:9781337669214

Author:GARMAN

Publisher:GARMAN

Chapter17: Retirement And Estate Planning

Section17.3: Invest Through Employer-sponsored retirement Plans

Problem 5CC

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Similar questions

Apart from the benefits required by legislation, what benefit can a company expect from offering additional post-employment benefits to its employees? Share your opinion.
. If a fringe benefit involves a deduction from employee pay, which of the following is true? A. Employers may only offer the benefit to certain classes of employees. B. The employee must enroll in direct deposit for their pay. C. The fringe benefit must be subject to income tax. D. The amount of the deduction must be listed on the employee's pay advice. 2. The ________ determines when benefit amounts should be withheld from employee pay. A. employee B. employer C. IRS D. State in which the business is conducted
Which of the following is incorrect in relation to termination benefits? A benefit resulting from termination of employment at the request of an employee without an entity offer is not a termination benefit. A benefit that is in any way dependent on providing service in the future is a termination benefit. A benefit resulting from mandatory retirement is a postemployment benefit rather than a termination benefit. The event that gives rise to an obligation for termination benefits is the termination of employment.
As a manager, would you use financial incentives to compensate your employees? If so, what would be the keys to using them effectively? If not, then how would you compensate your employees?
Which of the following does not describe a defined contribution plan? The employer bears the risk of investment in a defined contribution plan. The contribution is certain but the benefit is uncertain. If the plan does poorly, the employee will share in the loss by paying more contributions. The accumulated fund on the date of an employee’s retirement determines the benefit.
With respect to qualified retirement plans, nondiscrimination rules prohibit employers from giving preferential treatment to which of the following? Select one: a. White-collar employees b. Highly-compensated employees (HCEs) c. Company executives d. Salaried employees
Which is not correct? a) The fringe benefit tax by nature is a final tax. b) The personal expenses of a managerial employee shouldered by the employer are subject to fringe benefit tax. c) Employees do not need to file income tax returns to report the fringe benefit. d) The monetary value of the fringe benefit is multiplied by the fringe benefit tax rate.
You are a small employer, and are considering adding a retirement plan for you and your employees, which plan(s) would you consider as candidates for this goal? SEPs, SIMPLE Plans, Keogh Plans? Why?
As we evaluate job related expenses, are self-employed taxpayers facing a considerable disadvantage when compared to common law or corporate employees? Based on the previous readings, the IRS has created some incentives to grow small businesses, and partnerships. Are self-employed taxpayers still facing considerable hurdles, given the deductibility of certain business expenses?
Can the owner of a small business receive unemployment compensation? Explain.
Which of these employees benefits is subject to fringe benefit tax? Fringe benefits to rank and file employees Regular pay of supervisory and managerial employees Fringe benefits to supervisory and managerial employees Regular pay of rank and file employees
the ONLY exclusion to the right of recovery of benefits as the employers ... a) mini tort claim b) punitive damages claim c) intentional tort d) unintentional tort