WEX Inc.

OCTOBER 22, 2024

The IRS released 2025 contribution limits for medical flexible spending accounts (medical FSAs), commuter benefits , and more as part of Revenue Procedure 2024-40. Employers can allow employees to carry over $660 from their medical FSA for taxable years beginning in 2025, which is a $20 increase from 2024.

Flexible Spending Account 98

Flexible Spending Account Health Savings Account Deductible Deductions 98

Money Talk

JUNE 13, 2024

With the 2023 tax filing deadline in the rear view mirror, now is a good time to look ahead to 2024 taxes that you will owe in April 2025. This post extends that discussion with a description of seven key steps to take to plan for your 2024 tax return due in 2025. As a result, there will be an increase in tax rates (e.g.,

Taxes 125

Taxes 401(k) Retirement Plan Health Savings Account 125

Business Management Daily

AUGUST 30, 2024

The cafeteria-plan rules require employees to designate their pretax deductions before the start of the plan year. For calendar-year plans, employees will be making changes very soon for the 2025 plan year. Employees taking FMLA leave Whether employees can change their pretax deductions while they’re on leave depends on the benefit.

Deductible 52

Deductible Deductions Employee Enrollments Medical 52

Best Money Moves

DECEMBER 9, 2024

Here are the most important benefits your company needs in 2025. According to Mercers Survey on health & benefit strategies for 2025 , almost 70% of surveyed companies are or are planning to offer financial wellness programs in their benefits package next year. These benefits trends will continue going into 2025.

roth 401(k) 52

roth 401(k) 401(k) Benefits Package Paid Leave 52

Snell & Wilmer Benefits

JANUARY 24, 2023

If you sponsor a high deductible health plan (“HDHP”) and have been tracking telehealth relief, your head may be spinning and rightfully so! The relief allows, but does not require, HDHPs to provide telehealth and other remote care services on a pre-deductible basis without making participants health savings account (“HSA”) ineligible.

Deductible 52

Deductible Deductions Family and Medical Leave Act Health and Welfare 52

WEX Inc.

NOVEMBER 14, 2024

You must be enrolled in a high-deductible health plan (HDHP) to be eligible, which lowers you insurance premiums. Health savings accounts have a triple-tax advantage, meaning distributions for qualified medical expenses and investment returns are tax-free, and contributions are tax-deductible. FSA Ownership: You own your HSA.

401(k) 98

401(k) Flexible Spending Account Health Savings Account Flexible Spending 98

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? Rather than taking the traditional vehicle depreciation over time, business owners and fleet managers can now take immediate deductions during tax season.

Bonuses 98

Bonuses Taxes Deductible Deductions 98

McNees

MAY 25, 2022

The paid leave will be funded by employee wage deductions and, for employers with 15 or more employees, employer contributions or the establishment of self-funded private employer plans to provide paid leave. Employer contributions begin on January 1, 2025, and eligible employees will be permitted to take leave beginning on January 1, 2026.

Paid Leave 105

Paid Leave Parental Leave Deductible Deductions 105

Benefits Notes

JANUARY 4, 2023

The CARES Act permitted high deductible health plans (“HDHP”) to provide first-dollar telehealth services or other remote care services. This allowed individuals covered under a HDHP that waived the deductible for telehealth services or other remote care to maintain HSA eligibility.

Deductible 98

Deductible Deductions Insurance Consulting 98

Business Management Daily

AUGUST 31, 2023

Expenses that could previously be deducted on an employee’s tax return may no longer qualify, and relocation benefits that previously could be paid out without counting towards a taxpayer’s income may now result in higher tax liabilities. Can employees deduct their moving expenses? Are moving expenses paid directly to vendors taxable?

Taxes 98

Taxes Deductible Deductions Bonuses 98

Patriot Software

NOVEMBER 27, 2024

Whether investing in a 401(k), IRA, or another retirement plan, you and your team should understand the rules and limits for 2025. Use our quick-reference chart to learn 401(k) contribution limits 2025, IRA contribution limits, and more. 401(k) contribution limits 2025 The 2025 401(k) contribution limit […] Read More

401(k) 58

401(k) Retirement Plan Deductions Deductible 58

Snell & Wilmer Benefits

JANUARY 24, 2023

If you sponsor a high deductible health plan (“HDHP”) and have been tracking telehealth relief, your head may be spinning and rightfully so! The relief allows, but does not require, HDHPs to provide telehealth and other remote care services on a pre-deductible basis without making participants health savings account (“HSA”) ineligible.

Deductible 40

Deductible Deductions Family and Medical Leave Act Health and Welfare 40

Employer Connection

AUGUST 20, 2024

A non-grandfathered group health plan’s in-network out-of-pocket maximum for essential health benefits (EHBs) for the 2025 plan year cannot exceed $9,200 for self-only coverage and $18,400 for other-than self-only coverage. Visit the Trustmark Healthcare Reform Blog to learn more.

Deductible 40

Deductible Deductions Healthcare 40

Griffin Benefits

DECEMBER 30, 2022

On nearly the eve of its expiration, Congress has extended the ability of high deductible health plans (“HDHPs”) to offer first-dollar telehealth coverage through plan years beginning before January 1, 2025. Making optional the requirement to report a value for amounts not applied to the deductible or out-of-pocket maximum.

Deductible 84

Deductible Deductions Health Savings Account Taxes 84

InterWest Insurance Services

DECEMBER 20, 2022

If you already have a qualified retirement plan (such as a 401(k) or a payroll-deduction IRA) for your employees, you do not have to participate. Participating employers will deduct a default rate of 5% of pay from the paycheck of each employee at least 18 years old and deposit it into the individual’s CalSavers account.

401(k) 98

401(k) Paid Sick Leave Retirement Plan Workers’ Compensation 98

cipHR

NOVEMBER 15, 2021

For the 2021/22 tax year (and through to 2025/26), the tax code for most people under 65 who only have one job or pension is 1257L. Since pension auto enrolment was introduced in 2012, more people than ever have pension deductions – employee and employer pension contributions – showing on their payslips. Personal details.

Pension 98

Pension Gross Pay Payroll Deductible 98

WEX Inc.

OCTOBER 9, 2024

Contributions are tied to enrollment in a high-deductible health plan (HDHP). For FSAs , the IRS typically announces new contribution limits in the fall, and for 2025, it’s projected to be $3,300. For HSAs , the 2025 limit will be $4,300 for individuals and $8,550 for families.

Flexible Spending Account 95

Flexible Spending Account Health Savings Account Flexible Spending Taxes 95

InterWest Insurance Services

DECEMBER 7, 2023

Also, employees will be able to carry over up to $640 next year into 2025 if they have funds left over in their account, if their employer allows it (it’s optional). The IRS recently announced that the annual contribution limit for flexible spending accounts will rise to $3,200 in 2024, up $150 from this year.

Flexible Spending Account 98

Flexible Spending Account Flexible Spending Pharmaceutical Health Savings Account 98

CorpStrat

DECEMBER 4, 2024

Open enrollment is wrapping up, and now is the time to ensure your benefits package is ready to meet employee needs and support your 2025 business goals. Ensure your employees understand their options, any changes for 2025, and the enrollment deadlines. Review 2025 Plan Design Changes Have you updated your plans for 2025?

Employee Benefits 52

Employee Benefits Employment Disability Insurance Health Savings Account 52

Employee Benefits

AUGUST 28, 2024

In the second year, there will be a further increase of inflation plus 1.5%, which will be based on consumer prices index levels in March 2025. There is also an agreement to reopen pay negotiations if levels in March 2025 exceed 4%. The minimum award will be 3.5% and the maximum 5%.

Deductible 59

Deductible Deductions Employee Benefits Employment 59

Employer Connection

AUGUST 1, 2024

*The Consolidated Appropriations Act permits qualified high-deductible health plans to cover services prior to the deductible being met through December 31, 2024.

Deductible 52

Deductible Deductions Medical Insurance 52

Employee Benefits

FEBRUARY 22, 2023

Employers can also benefit from the NI savings made by deducting employees’ car payments from their salary. This figure will increase by one percentage point per year from 2025 to 2028. With BIK being kept at 2% until 2025, drivers are able to afford a brand new electric car where they otherwise would not have been able to.

Salary 98

Salary Taxes Government Insurance 98

PeopleStrategy

APRIL 18, 2022

On top of that, this tax credit was extended by the government up to the year 2025, which gives your small business ample time to save more from taxes. Costs like business meals, marketing spend, office rent, travel, and other business expenses can be written off or deducted at tax time. Need help with small business tax tips?

Taxes 52

Taxes Deductible Deductions Entertainment 52

Employee Benefits

AUGUST 21, 2024

The Living Wage Foundation considers the real cost of living to be £12 per hour and it is expected that, from possibly as early as April 2025, Labour will introduce a flat minimum rate of £12 per hour for everyone aged 18 and over. The new Labour government, which came to power in July, has pledged to increase these figures even further.

Pension 59

Pension Deductible Deductions Salary 59

Insperity

OCTOBER 10, 2023

Act are: Starting in 2025, long-term, part-time employees – those workers with at least two years’ tenure and who have worked a minimum of 500 hours – must be able to participate in their company’s retirement plan. It’s important to note that these are tax credits, not deductions. The SECURE 2.0 Major highlights of the SECURE 2.0

401(k) 113

401(k) Retirement Plan Taxes Benefits Package 113

Employee Benefits

JUNE 18, 2024

The union also arranged that the women’s team and DBU will begin negotiations this year rather than in 2025. We didn’t want to talk with the DBU if the only way to give the women more money, would be by deducting it from the men’s team. That’s not how you create equality.”

Deductible 59

Deductible Deductions Insurance Employee Benefits 59

Employee Benefits

FEBRUARY 26, 2024

Millennials will make up 75% of the global workforce by 2025 – next year – and they want their employers to be socially responsible. SmartPay – helping employees avoid credit cards and loans through salary deduct. Debt and loan consolidation – making tough times more manageable.

Employee Retention 111

Employee Retention Bonuses Recruitment Taxes 111

Winston Benefits

JUNE 5, 2018

This generation is already half of the workforce, and by 2025 is expected to make up 75 percent of working Americans. Three primary factors have contributed to this increase in spending on benefits tech. The Rise of Millennials. Millennials are reshaping the workplace, and benefits technology is no exception.

Technology 61

Technology Benefits Package Deductible Deductions 61

Business Management Daily

JANUARY 5, 2021

Congress has put to rest the controversy regarding whether expenses associated with loans forgiven under the Paycheck Protection Program are deductible on your corporate return. 31, 2025: The Work Opportunity Tax Credit. Expanded meal deduction. Originally, the IRS said no because it was a double-dip. Tax extenders. Through Dec.

Family and Medical Leave Act 52

Family and Medical Leave Act Payroll 401(k) Taxes 52

Employee Benefits

AUGUST 7, 2024

. “The current P46 process can lead to delays in setting up the benefit-in-kind process with HMRC, and as a result, tax may not be deducted in the correct month.”

Payroll System 59

Payroll System Taxes Payroll Take Home Pay 59

Business Management Daily

JANUARY 5, 2023

All qualified part-time employees are enrolled in the plan and pretax deductions are made from their pay. 29, 2022, must auto-enroll participants once they’re eligible, beginning with the 2025 plan year. For plan years beginning in 2025, SECURE 2.0 1, 2025, to complete this task. Expanding coverage. Fixing mistakes.

401(k) 52

401(k) roth 401(k) Taxes Deductible 52

Higginbotham

NOVEMBER 2, 2023

This is a new option that went into effect on March 27, 2020, and is set to end on December 31, 2025, assuming it’s not extended. Plus, employers can require workers to pay some or all the premium costs through payroll deductions. Offering retirement benefits also makes financial sense because they often come with tax incentives.

401(k) 52

401(k) Disability Insurance Benefits Package Insurance 52

Business Management Daily

OCTOBER 7, 2019

The TJCA suspends the personal exemption amount, which doubles as the annual withholding allowance amount, through 2025. Employees with the simplest tax situation—single, one job, no tax dependents, no other income or deductions—need only complete Steps 1 and 5. That’s about to change, thanks to the Tax Cuts and Jobs Act.

Payroll System 49

Payroll System Payroll Taxes Deductible 49

HR Professionals Magazine

SEPTEMBER 2, 2021

Paying taxes now with a tax-free withdrawal in retirement tends to be more beneficial than taking the up-front tax deduction and paying taxes down the road, when they may be in a higher tax bracket. With bi-partisan support, it is believed that this extension to 2025 will become permanent.

Retirement Plan 52

Retirement Plan roth 401(k) 401(k) Taxes 52

Business Management Daily

MARCH 12, 2021

On a corporate level, you’re not losing out, because you can deduct the employer’s portion of FICA on your Form 1120. This provision of the CARES Act has been extended through 2025. So going forward, you can pay employees’ student loan expenses, up to $5,250 a year.

Payroll 52

Payroll Paid Leave Taxes Deductible 52

Vantage Circle

SEPTEMBER 26, 2021

In the "appreciation only" method, in January 2025, Albert will receive the appreciated amount per share. However, the payout is tax-deductible by the employer as regular income. At that time, the price per share was $50. Let's take the vesting period to be five years. That is, ($60-$50) X 100 shares = $1000.

Employee Stock Option 52

Employee Stock Option 401(k) Taxes Bonuses 52

Bayzat

SEPTEMBER 25, 2023

It is up to the employer to consent and deduct from the employee’s annual leave. The health insurance must be covered without deducting the premium from their salary or reducing the compensation to compensate for these premiums. Money owned by the employer may be deducted from the worker’s gratuity.

Parental Leave 40

Parental Leave Salary Banking Government 40