Tax Reform Update for Employee Benefits Advisers: Navigating Key Changes to Compensation, Benefits and Deductions

Deferred Comp Practices for Non-Publicly Traded Employees, Family Leave Wage Credits, Lost Deductions and More

This program has been cancelled

A live 110-minute CPE webinar with interactive Q&A


Thursday, March 8, 2018 (in 12 days)

1:00pm-2:50pm EST, 10:00am-11:50am PST


This webinar will provide employee benefits advisers with a critical first look at the most significant elements of the new tax reform law affecting employee benefits practice and administration. The panel will outline key alterations to deferred compensation practices, fringe benefits, qualified benefit plans and tax-exempt organization management. The webinar will offer guidance on strategies to deal with employee and executive compensation practices and anticipate negative consequences from benefits practice changes.

Description

The new tax reform law represents the most sweeping changes to the U.S. income tax code in over 30 years, changes that will impact virtually every aspect of American society. For employee benefits professionals and advisers, the new law creates significant and immediate challenges, including getting withholding correct and handling employee reimbursement and fringe benefit arrangements.

The law contains a number of provisions that alter employers’ tax treatment of executive compensation, deferred compensation, fringe benefits, and certain previously deductible expenditures. Among key changes, the law expands the definition of “covered employees” of publicly traded companies for determining excessive compensation limits and extends the limitations to apply to foreign companies traded through ADRs and some non-publicly traded companies.

Tax reform eliminates several deductions for employers and employees, most notably employer deductions for reimbursements of moving expenses and “fringe benefits” granted to employees. Employers must also address significant changes in the reimbursement of meals and entertainment expenses.

The law contains opportunities for employers, particularly in the creation of a general business tax credit for wages paid to qualifying employees for family or medical leave. Employees of some non-public companies also gain expanded opportunities on qualified stock and equity grants until the employee can sell the stock.

Listen as our experienced panel provides a practical guide to the immediate impact of the tax reform law on employee benefits professionals.

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Outline

  1. Tax reform changes to compensation and withholding
  2. Alterations to treatment of deferred compensation
  3. Structuring around loss of employee deductions
    1. Moving expenses and reimbursements
    2. Meals and entertainment
    3. Employee miscellaneous itemized deductions for work-related expenditures
  4. Credits for family and medical leave wages
  5. Withholding and other strategies to protect employees

Benefits

The panel will discuss these and other important topics:

  • How the new tax law changes treatment of deferred compensation for qualified employees of non-publicly traded companies
  • Changes to definition of qualified employees for purposes of calculating excessive compensation
  • Treatment of meals and entertainment expenditures under provisions of the tax reform law
  • Deductions lost under the tax bill
  • Details of the general business credit for family or medical leave wages paid to qualifying employees

Faculty

Bailey, Luke
Luke D. Bailey

Partner
Strasburger & Price

Mr. Bailey specializes in employee benefits law and executive compensation. He has extensive experience in the tax...  |  Read More

Ellis, Douglas
Douglas J. Ellis

Senior Counsel
Clark Hill

Mr. Ellis provides a variety of services and advice to employers, administrators, fiduciaries and other clients on...  |  Read More