Benefit Resource Inc.

OCTOBER 11, 2018

What is a pre-tax benefit account? A pre-tax benefit account allows you to set aside money from your paycheck before taxes to use for IRS-approved purchases. The items you can pay for through a pre-tax benefit account depends on which plan(s) you have. Any unused funds are returned to your employer. Medical FSA.

Taxes 74

Taxes Health Savings Account Medical Deductions 74

Benefit Resource Inc.

NOVEMBER 15, 2018

The IRS released the 2019 pre-tax limits for Mass Transit, Parking, Medical FSA and Adoption Assistance. The limits are effective for plan years that begin on/or after January 1, 2019. 2019 Mass Transit and Parking Limits. 2019 Medical FSA Limit. Employers must initiate a change.

Taxes 40

Taxes Medical Flexible Spending Employment 40

Benefit Resource Inc.

APRIL 11, 2019

The FSA rollover option is offered by some employers to employees as a form of protection against losing funds in a Medical FSA. Since the FSA rollover option was introduced, it has gained traction with employers, with 65%* currently offering the option. The employer decides the amount that can roll.

Taxes 76

Taxes Flexible Spending Account Medical Flexible Spending 76

InterWest Insurance Services

MARCH 16, 2023

Large employers are unwavering in their plans to continue offering group health plans to their workers instead of funding individual reimbursement accounts that would allow them to shop for plans on government-run exchanges, according to new research.

Health Insurance 98

Health Insurance Employment Out of Pocket Cost Health Savings Account 98

Best Money Moves

APRIL 10, 2020

CARES Act: What to Know About Stimulus Payments: If you set up your tax refund with direct deposit, you should get a stimulus check from the government worth up to $1,200 or $2,400 within about a week — though if you need a paper check the wait will likely be extended. . Expenses can be forgiven during any eight-week stretch from Feb.

Banking 122

Banking Government Taxes Payroll 122

Money Talk

DECEMBER 21, 2022

The median household income in the United States was $67,521 in 2020, down from $69,560 in 2019. For example, $100 in a mutual fund or 5% of pay every payday in an employer retirement savings plan. Median Income - The median is the exact halfway point (midpoint) in a distribution of numbers from the lowest to the highest.

401(k) 180

401(k) Banking Food Deductions 180

Employee Benefits

JANUARY 23, 2023

Credit: MikeDotta / Shutterstock.com Former Sky Sports presenter and columnist for The Times Stuart Barnes has won a first-tier tax tribunal regarding his IR35 status , carrying £695,000 in tax liability. The post Sky Sports pundit Stuart Barnes wins £700,000 tax case appeared first on Employee Benefits.

Taxes 59

Taxes Payroll Insurance Employee Benefits 59

WEX Inc.

JULY 24, 2023

What employers are saying about employee finances and retirement? 65 percent of employees participate in their employers’ retirement plan. 80 percent of employers say that employee financial stress is reducing workplace performance, at an estimated cost of half a trillion dollars. The missing retirement solution?

Retirement Plan 98

Retirement Plan 401(k) Health Savings Account Taxes 98

Business Management Daily

JANUARY 17, 2020

Tax audits are all about your records. Have sloppy, incomplete and inaccurate records and you will needlessly pay tax penalties. The IRS determined that a taxpayer was $17,925 in the hole for his income taxes, and, accordingly, was liable for a $3,585 accuracy-related penalty. 2019-34, U.S. Tax Court, 2019).

Taxes 52

Taxes Entertainment Deductions Deductible 52

BerniePortal

DECEMBER 30, 2019

2019 has truly been a year for the books. Alpine: technology-enhanced benefits and COBRA administration BerniePortal's exclusive TPA partner focused on providing streamlined benefits and COBRA administration makes offering and using pre-tax dollars easier than ever. It's been a great year - Bernie's been quite busy.

Human Resources 11

Human Resources Software Payroll Taxes 11

Proskauer's Employee Benefits & Executive Compensa

JANUARY 30, 2023

As part of our continuing series on SECURE 2.0 , signed into law December 29, 2022, this post focuses on significant changes for section 403(b) tax-sheltered annuity plans (“403(b) plans”). Multiple Employer and Pooled Employer 403(b) Plans SECURE 2.0 As discussed in more detail below, SECURE 2.0 However, SECURE 2.0

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401(k) Taxes Retirement Plan Commissions 111

Business Management Daily

APRIL 9, 2020

Alert: The CARES Act includes a number of tax relief measures to help the country get through the COVID-19 crises. Here are ten ways to benefit from tax provisions in the new law. A single tax filer will receive a check of up to $1,200; up to $2,400 for a couple filing jointly. Get tax rewards for charity.

Taxes 52

Taxes Deductions Deductible Retirement Plan 52

McDermott Will & Emery Employee Benefits

FEBRUARY 22, 2022

In 2019, the Washington State Legislature established the Long-Term Services and Supports Trust Program (LTSS Trust Program) to provide funding for eligible beneficiaries that they can apply to the cost of their long-term care. The program is funded through a 0.58% payroll tax on employee wages and went into effect on January 1, 2022.

Taxes 97

Taxes Payroll Employee Benefits Employment 97

Insperity

OCTOBER 10, 2023

workers better prepare financially for retirement, at every stage of their employment journey. In requiring employers to take actions that can improve their employees’ financial wellness, the SECURE 2.0 Act of 2022 Expanding on the provisions laid out in the original SECURE Act of 2019, the SECURE 2.0 In December 2022, the U.S.

401(k) 116

401(k) Retirement Plan Taxes Benefits Package 116

Genesis HR Solutions

SEPTEMBER 20, 2018

Employees are asking about it; employers are thinking about it, and soon, new legislation will be passed regarding it. Figuring out how to implement paternity leave successfully is crucial for employers, particularly if your organization wants to attract millennials, who place significant value on work-life balance. Click To Tweet.

Family and Medical Leave Act 65

Family and Medical Leave Act Employment Parental Leave PTO 65

Business Management Daily

DECEMBER 26, 2019

What’s the problem: Some of these lock-in letters instruct employers to withhold based on single/zero status, when technically there is no more single/zero status. Surf to these states’ tax departments for more details. The post 2019: The year in payroll appeared first on Business Management Daily. Some exempts get a raise.

Payroll 52

Payroll Overtime Taxes Employment 52

Business Management Daily

NOVEMBER 17, 2021

As the year ends, questions of taxes, domicile, and residency should be top of mind for employers looking to avoid any unnecessarily complex tax issues in the new year. They kept a family cemetery plot in the state, which was enough for New York to continue to tax them. An audit was commenced for tax years 2013 and 2014.

Taxes 52

Taxes Family and Medical Leave Act Banking Commissions 52

Global People Strategist

MAY 18, 2022

France is one of the most highly taxed countries in the world. In fact, France achieved the title of the highest taxed county in the European Union in 2017 and 2018. France is a welfare state, so naturally, it needs funds (to offer amenities and benefits) that are paid by the taxes of its French residents. Taxes in France.

Taxes 52

Taxes Government Deductions Deductible 52

Corporate Synergies

JANUARY 2, 2019

Our 2019 Employer Education Series is designed to help you get more bang for your benefits buck. Corporate Synergies is set to launch its 2019 Employer Education Series. The 2019 Employer Education series includes staff-written articles, special use publications, webinars and regional conferences.

Education 40

Education Health and Welfare Voluntary Benefits Employment 40

Global People Strategist

FEBRUARY 26, 2019

As Brexit continues to loom over 2019 with its threat of uncertainty, there are several changes to British laws that are expected to come down the road and affect workplaces in that country: Shared Parental Leave Pay. The Court of Appeals will consider the case on May 1, 2019. Extended Redundancy Protection. New Statutory Test.

Parental Leave 40

Parental Leave Employment Government Consulting 40

PeopleStrategy

APRIL 18, 2022

If you are running your own small business, then chances are that taxes are one your biggest expenses. Although having a good tax plan is place is an effective strategy, you can save more money for your business with our small business tax tips. Here are some useful ideas that can help you reduce your business taxes in 2022.

Taxes 52

Taxes Deductions Deductible Entertainment 52

PeopleStrategy

JUNE 4, 2020

.® , a full-service brokerage and provider of comprehensive, cloud-based human resource (HR) solutions, and Peanut Butter , a leading provider of student loan assistance in the form of resources and repayment plans, have partnered to provide small and medium-sized employers with one of the top benefits college-educated talent wants.

Employment 69

Employment Human Resources Payroll Comprehensive Benefits 69

Best Money Moves

AUGUST 18, 2021

It’s no secret that employees of different generations expect different kinds of support from their employers. Over half of all Americans receive health insurance from their employers, according to 2019 census data. Meanwhile, older employees will have greater concerns about retirement. .

Health Insurance 111

Health Insurance Health Savings Account Insurance Benefits Package 111

WEX Inc.

MAY 8, 2023

HDHP vs. PPO deductible Nearly two-thirds of large employers provide their employees with the choice of an HDHP and a traditional health plan , such as a preferred provider organization (PPO). It is not legal or tax advice. For legal or tax advice, you should consult your own legal counsel, tax and investment advisers.

Deductions 97

Deductions Deductible Health Savings Account Employee Enrollments 97

Genesis HR Solutions

NOVEMBER 18, 2020

Everything above that is returned to them as compensation—and it is taxed. According to the IRS , a safe harbor 401(k) plan is similar to a traditional 401(k) plan, but, among other things, it must provide for employer contributions that are fully vested when made. Employer contributions. A required January 1 election.

401(k) 105

401(k) Salary Payroll Retirement Plan 105

WEX Inc.

NOVEMBER 30, 2018

Recently, the IRS issued Revenue Procedure 2018-57 , which announced more than 40 tax provisions for 2019, including the tax rate schedule, and other tax changes. There were also several increases to 2019 benefits limits. View our infographic below to help illustrate the news.

Taxes 40

Taxes Consulting Employment 40

Benefit Resource Inc.

NOVEMBER 6, 2019

The IRS released the 2020 pre-tax limits for Mass Transit, Parking, Medical FSA and Adoption Assistance in Revenue Procedure 2019-44. Maximum Election : $270 / month (up from $265 / month in 2019). Maximum Annual Limit : $2,750 (up from $2,700 in 2019). Maximum Annual Limit : $2,750 (up from $2,700 in 2019).

Taxes 40

Taxes Medical Employment 40

Benefit Resource Inc.

MARCH 20, 2019

The report provides insight into the financial health of families across America, examining factors like employment, student loans, and retirement. The tax savings. An HSA is an account that may be offered by your employer. It will help you save on taxes and on health expenses. An HSA is a tax-free benefit.

401(k) 85

401(k) Deductions Deductible Health Savings Account 85

Benefit Resource Inc.

MARCH 5, 2019

On Friday, March 1, 2019, New Jersey became the first state to adopt a commuter benefit ordinance with the passage of S.1567. An employee is identified as anyone hired or employed by the employer and who reports to the employer’s work location. What are the basics? Who counts as an employee?

Transportation 85

Transportation Commissions Government Utilities 85

HR Digest

JANUARY 8, 2020

Or will the amount of each paycheck in 2020 be lower than in 2019? It depends on how your employer will manage this unusual year. Some employers may choose to divide employees’ annual salary over 27 pay periods instead of 26. Similarly, federal income tax withholdings might differ on your paycheck as well.

401(k) 81

401(k) Gross Pay Deductions Deductible 81

Patriot Software

JANUARY 9, 2019

Regardless of whether you are an entrepreneur, employing a household worker makes you an employer. And as an employer, you are required to pay household employment taxes, otherwise known as the nanny tax. Employing a nanny isn’t a spoonful of sugar if you don’t follow nanny tax rules. What is the nanny tax?

Taxes 47

Taxes Payroll Online Payroll Payroll Software 47

Business Management Daily

FEBRUARY 17, 2021

In 2019, only 3.6% Some employees wish to move and continue remote employment. Another 38% said their employer was supportive of permanent moves. So far, most employers aren’t implementing pay cuts for employees who move to locations with lower costs of living. Benefits of hiring remote employees. However, some have.

Work From Home 122

Work From Home Salary Taxes Software 122

Global People Strategist

JANUARY 21, 2023

Companies unfamiliar with employment laws in Hong Kong face potential liability. 1. The Employment Contract In Hong Kong, employment contracts can be agreed to for an indefinite period or a set timeline. Contracts can be written down; however, most employers prefer this approach when forming employee agreements.

Employment 52

Employment Payroll System Pension Commissions 52

Benefit Resource Inc.

JULY 18, 2019

On July 17, 2019, House passed H.R. 748 , the Middle Class Health Benefits Tax Repeal Act , to repeal the “Cadillac Tax” The bill passed by a nearly unanimous vote in favor of repeal. What is the Cadillac Tax? The Cadillac Tax was originally passed in the Affordable Care Act as a cost-containment measure.

Taxes 40

Taxes Employment IT 40

McDermott Will & Emery Employee Benefits

OCTOBER 12, 2022

The extensions included many of the amendment deadlines under the Setting Every Community Up for Retirement Enhancement Act of 2019 (SECURE […]. The post Save It for a Rainy Day Part 2: IRS Announces Additional Plan Amendment Extensions appeared first on EMPLOYEE BENEFITS BLOG.

Retirement Plan 98

Retirement Plan IT Employee Benefits Executive Compensation 98

Best Money Moves

APRIL 17, 2020

The IRS will determine if you’re qualified for the check by using your 2019 tax return. If you have yet to complete your 2019 taxes, the I.R.S. If you have yet to file that, you can give the agency a 2019 Social Security statement showing your income. . did not have prior tax information about.

Electronics 78

Electronics Taxes Government Banking 78

Business Management Daily

MARCH 9, 2020

Our expert pay and tax attorney Alice Gilman addresses readers’ questions on everything from the new w-4 to taxable prizes. In the short-term, since the employee hasn’t presented you with a valid form, you must withhold federal income taxes as if she is single and claimed no other adjustments on her form (i.e.,

Payroll Service 52

Payroll Service Taxes Payroll Life Insurance 52