Enrolled Agent Exam [Part 1] 96, Fringe Benefits - Taxable vs Excludable

This podcast is made by Ran Chen, who holds an EA license, Insurance and Securities licenses (Series 6, 63, 65), and the CFP® designation. He is passionate about opening access to high-quality exam preparation resources and helping learners prepare more effectively for professional certification exams. In this episode you will learn: • Cash or cash equivalents, regardless of the amount, are never excludable as a de minimis fringe benefit. • Transportation benefit exclusions are capped at a specific monthly limit ($315 for 2025) and any excess is taxable. • Dependent care assistance benefits are excludable only up to $5,000 per year; amounts over this are taxable income. • For a company-provided athletic facility to be an excludable benefit, it must be located on the employer's premises. • Qualified employee discounts on property are limited by the employer's gross profit percentage; discounts exceeding this are taxable. For more free exam prep tools, practice questions, and AI-powered explanations, visit https://open-exam-prep.com/ or Youtube Channel: https://www.youtube.com/@Open-exam-prep