BerniePortal

NOVEMBER 21, 2019

The IRS has just recently released draft instructions for the 2019 tax year 1094/1095-B and 1094/1095-C forms. Applicable employers are required to file 1095-Cs with the IRS, and each year usually brings changes and clarifications for filing.

Taxes 81

Taxes Employment IT Healthcare 81

Benefit Resource Inc.

MARCH 26, 2019

Patients don’t know that video consultation services may be available under their medical plans and can be paid with pre-tax funds. Beyond insurance and Medicaid, funds from pre-tax benefit accounts can be used to cover telecare visits. It will be interesting to see how telehealth develops in 2019 and beyond.

Healthcare 65

Healthcare Taxes Hospitality Education 65

Patriot Software

APRIL 22, 2019

In 2018, the IRS adjusted income tax withholding tables to reflect the Tax Cuts and Jobs Act. The IRS released changes to the income tax brackets for 2019. When you have employees, you need to stay on top of changing employment tax rates. Rates impact the amount of money you withhold from employee wages.

Taxes 77

Taxes Payroll Employment 77

Professionals Alternative

SEPTEMBER 24, 2024

If you have a conference that you think should be added to our list, please email: info@proalt.com (Last updated November 2019.

Finance 52

Finance Taxes Technology Management 52

Money Talk

AUGUST 16, 2023

In 2019, the older worker cohort included nearly 15% of those in their 70s. Tax on Social Security Benefits - Those who work and claim benefits will trigger taxes with a combined income above $25,000 (individuals) or $32,000 (married couples filing jointly). An estimated 21.9% of Americans age 65+ were working in 2022.

Taxes 130

Taxes Pension Deductions Deductible 130

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. The limits for 2019 should be released later this month.

Taxes 74

Taxes Health Savings Account Medical Deductions 74

HR Bartender

FEBRUARY 22, 2022

That includes compliance with employment tax payment and reporting rules with each of the various local, state, and federal agencies to avoid penalties. For example, tax credits often require records that document fulfillment of the credit. One of the most common employment tax credits is the Work Opportunity Tax Credit (WOTC).

Payroll 156

Payroll Taxes Technology Employee Retention 156

Benefit Resource Inc.

APRIL 11, 2019

Let’s say you had an FSA in 2018 but you decided not to re-enroll for 2019. When the 2019 year starts, if your employer offers the FSA rollover option, you will have $500 to use up. The post Pre-tax terms: R is for “Rollover” appeared first on Benefit Resource, Inc. Data based on BRI clients as of June 2018.

Taxes 76

Taxes Flexible Spending Account Medical Flexible Spending 76

PeopleKeep

JULY 30, 2020

On June 13, 2019, the federal government released a final ruling that created a new HRA called the individual coverage HRA (ICHRA) and included guidelines for making coverage under the HRA “affordable.” To be considered affordable , the cost of the lowest cost silver plan must not be more than 9.78% of an employee’s household income.

Taxes 59

Taxes Government Health Insurance Insurance 59

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. . When might this resource be accessible: This is also unclear.

Banking 122

Banking Government Taxes Payroll 122

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

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

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

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

Money Talk

DECEMBER 21, 2022

The median household income in the United States was $67,521 in 2020, down from $69,560 in 2019. Buy and hold investing can often outperform actively-managed investing because trading expenses are reduced and capital gains taxes are deferred. In other words, half of the numbers are below the median and half are above it.

401(k) 180

401(k) Banking Food Deductions 180

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

Benefit Resource Inc.

MARCH 23, 2020

Tax time is no longer just April 15th. Recent guidance from the IRS delays the Federal tax filing deadline and Federal tax payment deadline. The deadline was extended from April 15, 2020 to July 15, 2020 for the 2019 tax year. Tax payment deadline delayed. The first tax adjustment news released by the U.S.

Taxes 49

Taxes Health Savings Account IT 49

Business Management Daily

DECEMBER 26, 2019

Surf to these states’ tax departments for more details. The post 2019: The year in payroll appeared first on Business Management Daily. As far as we know, North Dakota is the only state to conform its withholding methods to the IRS’ new withholding methods, which generally aren’t based on withholding allowances or pay periods.

Payroll 52

Payroll Overtime Taxes Employment 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

Proskauer's Employee Benefits & Executive Compensa

SEPTEMBER 29, 2022

In addition, Notice 2022-45 similarly extends the deadline for adopting qualified disaster distribution provisions pursuant to the Taxpayer Certainty and Disaster Tax Relief Act (“ Relief Act ”).

Taxes 114

Taxes Retirement Plan IT 114

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

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

WEX Inc.

JULY 24, 2023

Despite all the options available, only 36 percent of non-retirees said in a 2019 survey that their retirement saving is on track. Despite all the options available, only 36 percent of non-retirees said in a 2019 survey that their retirement saving is on track. Withdrawals for HSA eligible medical expenses are tax-free.

Retirement Plan 98

Retirement Plan 401(k) Health Savings Account Taxes 98

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”). A CIT is a tax-exempt pooled investment vehicle that holds assets attributable to certain types of employer-sponsored retirement plans.

401(k) 111

401(k) Taxes Retirement Plan Commissions 111

McDermott Will & Emery Employee Benefits

SEPTEMBER 21, 2022

The post Save It for a Rainy Day: Recent Amendment Extensions for Qualified Retirement Plans, 403(b) Plans and Individual Retirement Accounts appeared first on EMPLOYEE BENEFITS BLOG.

Retirement Plan 98

Retirement Plan IT Employee Benefits Executive Compensation 98

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

Insperity

OCTOBER 10, 2023

Act of 2022 Expanding on the provisions laid out in the original SECURE Act of 2019, the SECURE 2.0 This enables workers to pay taxes up front on the funds they contribute, and then grow and withdraw these larger funds at a later date tax free. It’s important to note that these are tax credits, not deductions.

401(k) 116

401(k) Retirement Plan Taxes Benefits Package 116

Business Management Daily

NOVEMBER 29, 2018

The IRS has now addressed key issues related to the tax credit for paid leave under the Tax Cuts and Jobs Act during 2018 and 2019. The post FMLA paid tax credit: IRS guidance fleshes out the details appeared first on Business Management Daily.

Taxes 45

Taxes Paid Leave Management Human Resources 45

WEX Inc.

MAY 8, 2023

Starting in 2020, IRS Notice 2019-45 stated that certain expenses for chronic condition care are considered preventative for participants enrolled in HDHPs, meaning these expenses are eligible to be covered by insurance before participants reach their required deductible. It is not legal or tax advice.

Deductions 97

Deductions Deductible Health Savings Account Employee Enrollments 97

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

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

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

Patriot Software

JANUARY 9, 2019

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. Read on to learn about the nanny tax, how to legally hire a household worker, and your depositing and filing responsibilities.

Taxes 47

Taxes Payroll Online Payroll Payroll Software 47

Benefit Resource Inc.

MARCH 20, 2019

The tax savings. It will help you save on taxes and on health expenses. An HSA is a tax-free benefit. The money comes out of your paycheck before taxes, similar to a 401(k) and health insurance. Because your gross income (your income before taxes) is reduced, you pay less in taxes. Verify you are eligible.

401(k) 85

401(k) Deductions Deductible Health Savings Account 85

Genesis HR Solutions

NOVEMBER 18, 2020

Everything above that is returned to them as compensation—and it is taxed. As with most tax-sheltered savings plans, the features you choose can trigger certain rules that impact the overall goals you are looking to achieve. The SECURE Act of 2019 is the most impactful retirement plan reform legislation in over a decade.

401(k) 105

401(k) Salary Payroll Retirement Plan 105

WEX Inc.

AUGUST 13, 2024

Even back in 2019, the “virtual credit card” created a buzz in the payments marketplace. It is not legal or tax advice. For legal or tax advice, you should consult your own legal counsel, tax, and investment advisers. Today, the use of virtual credit cards is a commonly used form of corporate payment.

Electronics 52

Electronics Banking Taxes Consulting 52