Course Description

Due to hybrid and remote work environments, many companies are rethinking their employee reimbursement policies. Therefore, it is imperative for practitioners to know which expenses are reimbursable, the impact of these expenses on the W-2, and proper substantiation requirements. Using easy to follow examples and discussion, this course will explore these topics as well as which fringe benefits need to be added back into the W-2 – and which do not. We will also identify some best practices so you will be well prepared for the next client question that comes your way.

Learning Objectives

  • Identify which expenses must be reported in employee/contractor income.

  • Recognize the difference between accountable and non-accountable plans.

  • Recall strict substantiation requirements.

  • Identify best practices for documenting employee expenses.

Additional Required Materials

  • Course Level: Overview

  • Field of Study: Taxes (NASBA); Tax Planning (CFP); Federal Taxation (IRS)

  • Who Should Attend: Tax practitioners, small business owners, and other accountants looking to serve their companies or clients in the areas of payroll services or operations.

  • Required Knowledge: None

  • Advanced Prep: None

Instructor

CPA, CPCU, MST, MBA David Peters

David Peters is the Founder and Owner of Peters Tax Preparation & Consulting in Richmond, VA. He has over fourteen years of experience in financial services, including 3 years in the hedge fund industry and six years in the insurance industry. David was the first-ever Chief Financial Officer at Compare.com - a position he held for over three years. He is a national CPE Instructor/Discussion Leader for the AICPA, Surgent, and Kaplan. He regularly teaches courses in accounting, finance, insurance, and ethics throughout the United States. He holds four Masters degrees and contributes regularly to various CPA publications, including NCACPA’s Interim Report, SCACPA’s CPA Report, and VSCPA’s Disclosures. He was also a co-author of the 2018 Virginia CPA Ethics course – a required course for all CPA’s licensed in the Commonwealth of Virginia.