InterWest Insurance Services

APRIL 24, 2025

Shift away from HDHP-only offerings: The number of employers offeringonlyHDHPs has dropped by 33% since its peak in 2020. Those committed to using HSAs: For individuals actively contributing to and spending from HSAs, HDHPs can offer both immediate tax benefits and long-term savings growth.

Out of Pocket Cost 83

Out of Pocket Cost Employment Deductions Deductible 83

Money Talk

JANUARY 4, 2023

in April 2020, started the year at 4.7% Taxes - The average income tax refund in 2022 was $3,039, but some families with advanced child tax credits faced tax payments. Some states held sales tax holidays in response to high inflation. Savings Rates - The U.S. savings rate, which rose to a record 33.8%

Finance 244

Finance Banking Taxes Food 244

Business Management Daily

DECEMBER 7, 2021

share of Social Security taxes last year, the time to make your first payment is approaching quickly. You’ll receive a separate notice for each quarter you deferred the deposit of your taxes. Your make-up payments must be made separately from your other tax deposits. If you deferred depositing your 6.2% 3, 2022, and Jan.

Taxes 100

Taxes Employment Management IT 100

WEX Inc.

DECEMBER 3, 2024

And the CARES Act, which was signed into law in 2020, made popular over-the-counter drugs and medicines eligible for FSA funds without a prescription. It is not legal or tax advice. For legal or tax advice, you should consult your own legal counsel, tax and investment advisers.

Flexible Spending Account 98

Flexible Spending Account Flexible Spending Medical Taxes 98

Patriot Software

JANUARY 13, 2020

Like past years, the IRS released changes to the income tax withholding tables for 2020. In addition to new wage brackets, there are significant changes to how employers will handle tax withholding. These changes are in response to the Tax Cuts and Jobs Act of 2017. When you have employees, you need to stay on […].

Taxes 106

Taxes Software Employment Payroll 106

Money Talk

MAY 4, 2023

Inflation-induced price hikes on goods and services are like a regressive sales tax and hurt those with low incomes the most. in January 2020 and 5.1% Below is a brief description of the ten trends that I discussed: Inflation- The U.S. The goal is a so-called “soft landing” (i.e., not slowing the economy too much to avoid a recession).

Education 245

Education Finance Pension Taxes 245

WEX Inc.

JUNE 20, 2024

Tax deductions if you have a fleet of commercial vehicles Are you a small or large business owner with commercial vehicles, or a fleet manager? Calculating your commercial vehicle spend and how it will be impacted at tax time, including mileage and leasing, can make a huge difference in your overall expenses.

Bonuses 98

Bonuses Taxes Deductions Deductible 98

Money Talk

FEBRUARY 1, 2023

From May 2020 through October 2022, the fixed rate was 0.0% (zero). 178.36) through Treasury Direct and up to $5,000 (in different increments) of “old school paper I-bonds” (like I have) via a tax refund. at least for a six month period. How can I be earning more than the current interest rate paid on newly issued I-bonds?

Electronics 246

Electronics Government Taxes Banking 246

Patriot Software

JANUARY 27, 2021

There’s a new tax in town: the Seattle JumpStart tax. So Seattle employers, read up on the new payroll expense tax and what it means for you and your business. What is the Seattle JumpStart tax? On July 6, 2020, the Seattle, Washington […] READ MORE.

Taxes 97

Taxes Employment Payroll IT 97

PeopleKeep

OCTOBER 6, 2020

Department of Health and Human Services (HHS) has released the 2020 federal poverty level (FPL) guidelines which are used to determine eligibility for programs such as Medicaid, food stamps, or education subsidies in 2021. Also known as “federal poverty guidelines,” the FPL is used to measure a household’s poverty status.

Food 96

Food Education Taxes IT 96

Benefit Resource Inc.

APRIL 13, 2021

Once again, tax time is no longer just April 15th. For the second year in a row, the Federal Tax filing deadline has been extended for most taxpayers. What does this mean for the 2020 HSA contribution deadline? What is the 2020 tax filing deadline? 2020 Contribution Limits. Single Coverage.

Health Savings Account 76

Health Savings Account Taxes Medical 76

BerniePortal

JUNE 17, 2020

With many companies and organizations scrambling to keep their operations afloat during the pandemic, the Internal Revenue Service (IRS) postponed the tax return deadline until July 15. Likewise, the IRS also announced the same date as the extension deadline for 2019 HSA contributions. Here’s what you need to know.

Taxes 75

Taxes 75

Money Talk

APRIL 7, 2022

One webinar sponsored by The American College of Financial Services covered financial topics such as income taxes, required minimum distributions (RMDs), qualified charitable distributions (QCDs), and income-related monthly adjusted amount (IRMAA) Medicare premium surcharges. Financial Planning Take-Aways ¨ Tax Deferral ?

401(k) 189

401(k) Taxes Finance Education 189

Money Talk

JULY 28, 2021

Last month, I wrote a blog post for the Military Families Learning Network about “nuts and bolts” of the advance child tax credit (ACTC). To recap, the ACTC is an advance payment of half of the expanded child tax credit (CTC) available under the American Rescue Plan. The remainder of the credit gets settled up on 2021 tax returns.

Taxes 100

Taxes Utilities Education IT 100

Flimp Communications

SEPTEMBER 14, 2020

Companies with employees in multiple states need to communicate different sets of benefits or tax information to these different audiences. As we enter open enrollment 2020, consider how you’ll share communications with your employees. Repeatable: Benefits vary from state to state and for full-time and part-time employees.

Benefit Providers 96

Benefit Providers Media Taxes Management 96

HR Digest

JANUARY 8, 2020

Does this mean you’ll get an extra paycheck in 2020? Does this mean you’ll earn more than your annual salary in 2020? Or will the amount of each paycheck in 2020 be lower than in 2019? lower each pay period during 2020 (although you’d make the same total salary). This means that gross pay would be 3.7%

401(k) 81

401(k) Gross Pay Deductions Deductible 81

Benefit Resource Inc.

SEPTEMBER 22, 2020

Healthcare is complicated, so how can you get the most out of Open Enrollment 2020? Start by using this list of three questions you should ask yourself before signing up for your pre-tax benefits. To get a picture of your pre-tax income, take a look at one of your recent pay stubs before taxes.

Out of Pocket Cost 81

Out of Pocket Cost Deductions Deductible Healthcare 81

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 186

Payroll Taxes Technology Employee Retention 186

Flimp Communications

FEBRUARY 7, 2020

We’re in the middle of tax season now and April 15th is closing in fast. For many full-time employees , filing their taxes every year isn’t all that difficult. Conversations about financial wellness need to start somewhere, so why not take advantage of the opportunity tax season affords you? 2020 Tax Season Changes.

Taxes 75

Taxes 401(k) Health Savings Account Finance 75

Business Management Daily

DECEMBER 1, 2019

1 payday back into 2020, you’d still have 27 biweekly pay periods, this time in 2021. Although most companies choose this option, it may be a costly decision, since employees will receive an extra paycheck, along with extra taxes withheld and extra benefits provided. 1, 2021, is a holiday. Twist: If you don’t push the Jan.

Payroll 83

Payroll 401(k) Deductions Deductible 83

Benefit Resource Inc.

JANUARY 16, 2020

Incorporating lifestyle components into pre-tax accounts. So, how will this affect tax advantaged accounts like Flexible Spending Accounts and Health Reimbursement Accounts? Tools like HSA Bridge allows employees to pay for qualified expenses with tax-free money before their HSA balance has built up.

Health Savings Account 73

Health Savings Account Flexible Spending Account Flexible Spending Taxes 73

InterWest Insurance Services

MARCH 20, 2025

They became a viable option for funding health insurance for employees in 2020. Other considerations for employers include: Loss of premium tax credits Employees eligible for affordable ICHRA coverage lose access to ACA premium tax credits, which reduce their premium on exchanges, resulting in higher costs for them.

Health Insurance 75

Health Insurance Insurance Taxes Healthcare 75

BerniePortal

JANUARY 13, 2021

In December 2020, the IRS released the final version of the 2021 Form W-4. The important tax form includes only very few changes from the 2020 version, which was overhauled to feature more accurate withholding information in a simpler, more accurate, and more private document. Here's what you need to know.

Taxes 72

Taxes 72

BerniePortal

JANUARY 9, 2020

On December 5, 2019, the IRS released the final version of the 2020 Form W-4, which was retitled as the Employee’s Withholding Certificate. This is the forms first major update since 2017 when Congress made sweeping changes to the federal tax system. What’s changed on the new W-4? What's next?

Deductions 64

Deductions Deductible Taxes Employment 64

BerniePortal

JANUARY 22, 2020

Trying to beat the tax time rush? Mid-January marks the start of tax season! Employees have likely already received their W-2s (January 31 deadline) and are preparing to file for 2020. Along with the new W-4, the IRS has updated its online tax withholding estimator. Review Health Savings Account.

Taxes 64

Taxes Health Savings Account Health Insurance Medical 64

Benefit Resource Inc.

JUNE 1, 2020

This Father’s Day 2020, you might be surprised at some of the items you can find online. Our best picks for Father’s Day 2020. Your pre-tax account is here to help you treat yourself and be the best dad possible. Happy Father’s Day 2020! Make sure you let your dad (or uncle or brother!) The Basics.

Flexible Spending Account 61

Flexible Spending Account Flexible Spending Health Savings Account Taxes 61

PeopleKeep

NOVEMBER 29, 2019

A health savings account (HSA) is a tax-advantaged savings account a family or individual can use to pay for qualified medical expenses. HSAs are paired with a high-deductible health plan (HDHP) and have an annual contribution limit. Each year, the IRS adjusts the guidelines regarding HDHPs and HSA contribution limits.

Health Savings Account 75

Health Savings Account Deductions Deductible Medical 75

Professionals Alternative

JULY 15, 2020

From tax planning down to making ideal decisions that are based on precise financial information, top-notch accounting knowledge is vital to your success. 2) Tax Savvy for Small Business. Daily, writes with the 35 years of experience he accumulated as a tax attorney. In this book, the author, Frederick W. 3) Profit First.

Taxes 64

Taxes Recruitment Finance IT 64

BerniePortal

OCTOBER 13, 2020

13, 2020, that the wage cap for Social Security payroll taxes will increase in 2021. The Social Security Administration (SSA) announced on Oct. What do employers need to know about this update?

Taxes 69

Taxes Payroll Employment 69

Benefit Resource Inc.

MAY 5, 2020

The CARES Act introduced new eligible items that you can purchase with funds from your pre-tax benefits accounts (FSAs, HSAs, and HRAs). Effective January 2020, menstrual care products are now considered eligible expenses. The post 10 new eligible items you can buy with your pre-tax dollars appeared first on BRI | Benefit Resource.

Taxes 77

Taxes Medical Deductions Deductible 77

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. . 30, 2020, though that date may be extended with additional legislation.

Banking 122

Banking Government Taxes Payroll 122

Patriot Software

AUGUST 11, 2021

Withholding allowances used to be a way employees could adjust how much money employers take out of their paychecks for federal income tax. Although the IRS removed withholding allowances for federal income tax in 2020, they’re still out there—through pre-2020 W-4 forms and state income tax.

Taxes 98

Taxes Employment Payroll 98

BerniePortal

MARCH 23, 2022

Form W-4 is crucial to employee tax reporting and employer withholding. Even though there have been no meaningful updates since 2020, many employees don’t know how to fill out Form W-4 correctly—which can lead to an unpleasant surprise when a substantial tax bill comes due.

IT 98

IT Taxes Employment 98

Achievers

SEPTEMBER 18, 2018

Meister points out that some 75 percent of workplaces will use chatbots for some part of their HR solutions by 2020, and she notes that this technology will help HR leaders to create an employee experience “that mirrors their best customer service experience.”. The best jobs turn coworkers into friends.”. She’s also the founder of HRBooks.

Health 224

Health Human Resources Technology Taxes 224

HR Bartender

FEBRUARY 8, 2022

With so much changing so quickly, it’s no wonder that, according to a 2020 survey conducted by the ADP Research Institute, 40% of all business owners surveyed indicated that they had experienced unintended expenses because of non-compliance with government regulation.

Taxes 144

Taxes Technology Finance Government 144

Business Management Daily

OCTOBER 20, 2022

What was once a more straightforward question, has caused some confusion since 2020. Does local income tax withholding follow the wages or the person? If it follows the wages, you withhold taxes where the wages are earned. If it follows the person, you withhold taxes where the person earning those wages is located.

Taxes 52

Taxes Work From Home Employment Technology 52

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