While the benefit of equity compensation packages is easy to understand, the same cannot be said of the tax implications, and this article provides a broad overview of them.
Tax Planning; Tax Minimization
Inflation adjustments to retirement account limits issued for 2024
The IRS announced the inflation adjusted limits on benefits and contributions for various retirement accounts on Wednesday, including the maximum contribution amounts for 401(k) plans and IRAs.
Taxation of employees’ use of corporate apartments
The use of a corporate apartment as part of business travel generally could be excluded as a working condition fringe benefit, provided substantiation and other requirements are met.
Not all employee parking lots are created equal
An employer will have to make some effort to document that the parking available at an employee parking facility has no value, many employers will find that this burden is worth bearing because it allows deducting the full expenses of operating and maintaining the facility.
Rembrandt and retirement: The pitfalls of collectibles and self-directed IRAs
This item explores how certain tax provisions may affect potential investors planning to indirectly invest in collectibles.
Recent executive compensation and fringe benefit changes
The TCJA significantly affected the tax treatment of executive compensation and employee fringe benefits, amending deduction limitations in Sec. 240 and Sec. 162(m) and enacting a new excise tax under Sec. 4960 on excessive tax-exempt organization executive compensation.
CARES Act changes to retirement plans
A distribution that meets the definition of a coronavirus-related distribution carries several advantages and tax planning opportunities.
Qualified transportation fringe disallowance
The article discusses the June 2020 proposed regulations and how they compare to the prior guidance in Notice 2018-99.
employee benefits & pensions
Profits interests: The most tax-efficient equity grant to employees
By granting them a profits interest, entities taxed as partnerships can reward employees with equity. Mistakes, however, could cause challenges from taxing authorities.