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.

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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.

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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.

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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.

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Business Management Daily

NOVEMBER 20, 2018

The IRS has waited till mid-November to release its inflation adjustments to the tax rates and other fringe benefits. The post Better late than never: IRS releases 2019 tax and benefit amounts appeared first on Business Management Daily. Here’s how things shake out for next year.

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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.

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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.

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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.

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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).

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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.

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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.

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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.

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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).

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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.

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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.

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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.

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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.

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BerniePortal

FEBRUARY 21, 2019

Remind employees to review healthcare when filing taxes. It’s that time of year — W-2s are out, 1095-Cs are in the process of being filed, and consumers and businesses are checking off their tax related to-dos. Here are three healthcare tax tips for employees. Need help keeping up with HR events, deadlines, and reminders?

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Empuls

MARCH 23, 2023

At a time when the world was grappling with a health crisis, what could an employee retention tax credit have done? How did the employee retention tax credit or erc originate? What is the employee retention tax credit? So, the ERC turned into a huge tax relief for businesses that faced harsh times at the onset of the pandemic.

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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.

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Hireology

APRIL 16, 2019

We’re excited to announce Hireology has been #45 named on the Crain’s Chicago Business Best Places to Work 2019 list and #9 for midsize companies. To determine the rankings, Crain’s Chicago Business partnered with Best Companies Group and surveyed more than 14,000 local employees about their companies.

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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.

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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.

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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.

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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.

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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.,

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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. and Orlando.

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Florida Workers' Comp

JANUARY 9, 2024

See Soda Taxes (December 2016). The Washinton Post ran an opposing viewpoint in 2019 that asserted such taxes are both ineffective and disproportionate in their impacts. Did the sugar taxes diminish the consumption through consumer detriment (price) or did it increase alternative consumption through producer detriment?

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Workplace Insight

MAY 28, 2024

As the UK government warns that the state pension age might need to rise, a new report from the the International Longevity Centre UK (ILC) claims that, between 2019 and 2022, people’s work span in the UK fell by 6 months. And overall, the UK ranks 73 rd (of 153 countries) in terms of time spent in work throughout our lives. points from 7.2

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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.

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Corporate Synergies

SEPTEMBER 10, 2018

Open enrollment 2019 has so many moving parts it may seem impossible to manage. Three words have the power to make the most experienced HR professional shudder— open enrollment 2019. New laws (like the federal tax law) plus evolving regulations around benefits add more to HR’s already full plate. As Seen In.

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Money Talk

JULY 29, 2022

Widespread data hackings are increasingly common, whether it is a credit bureau (Equifax in 2017), a hotel (Marriott in 2018), an online game producer (Zynga in 2019) a federal government agency (OPM in 2015), or an Internet media company (Yahoo! Another common scam is phone calls and e-mails claiming to be from a bank.or Social Security.or

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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 ”).

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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.

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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.

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Employee Benefits

SEPTEMBER 6, 2023

Bikes-for-work schemes are tax-exempt arrangements that encourage employees to cycle to work to reduce environmental pollution and promote healthier lifestyles. Are there any potential tax or legal issues ? The appeal of bikes-to-work schemes may, in part, lie in the potential national insurance (NI) and tax savings.

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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.

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