Enrolled Agent Exam [Part 1] 06, Wages, Salaries, and Tips Titelbild

Enrolled Agent Exam [Part 1] 06, Wages, Salaries, and Tips

Enrolled Agent Exam [Part 1] 06, Wages, Salaries, and Tips

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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: • Why Box 1 (Wages) and Box 5 (Medicare Wages) on Form W-2 can be different. • The exact $20 monthly threshold that triggers the requirement for employees to report tips. • How to correctly report allocated tips from Box 8 of the W-2 using Form 4137. • A simple rule to distinguish taxable cash-equivalent fringe benefits from non-taxable ones. • Key 2025 dollar limits for non-taxable benefits like education, adoption, and transportation assistance. 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
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