Transportation fringe benefit rules eased
Article Abstract:
The relaxation of regulations governing transportation fringe benefits offers some relief to employers that provide automobiles, fuel, transit passes and other such benefits to their employees. The IRS has simplified the rules covering the valuation of employer-provided vehicles and fuel for employees' personal use in the newly issued Proposed Regulations (EE-101-91). Such transportation benefits given in calendar years that start after 1992 will be subject to these Regulations. In addition to the easing of IRS rules, the Comprehensive National Energy Policy Act of 1992 has recently been enacted. The Act has raised the limit of the amount of employer-provided transportation fringe benefits that employees may excluded from their gross income from $21 to $60 every month.
Publication Name: Taxation for Accountants
Subject: Business
ISSN: 0040-0165
Year: 1992
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Small businesses have SIMPLE retirement plan option
Article Abstract:
The author discusses the requirements and relative benefits of SIMPLE (savings incentive match plan for employees) retirement plans which became available to small businesses by provisions of the Small Business Job Protection Act of 1996.
Publication Name: Taxation for Accountants
Subject: Business
ISSN: 0040-0165
Year: 1997
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