Remove 401(k) Remove Health Savings Account Remove Take Home Pay
article thumbnail

Having a Baby? Use Your Pre-Tax Funds to Save

Benefit Resource Inc.

Fortunately, one great way to help with out-of-pocket costs is utilizing a Health Savings Account (HSA). Since we had contributed pre-tax to our HSA before birth our take home pay was lower. When partnered with the standard 401(k) plan, you could end up with two powerful retirement funds.

Taxes 72
article thumbnail

9 Nontaxable Employee Benefits for Maximizing Your Income and Workplace Satisfaction

Empuls

By reducing the taxable portion of their income, employees can effectively increase their take-home pay. This allows them to allocate more funds toward their financial goals, whether it be saving for retirement, paying for education, or meeting daily expenses. Connect with our employee perks and benefit experts.

article thumbnail

Understanding the cost of employee benefits & what it means for your company

Genesis HR Solutions

Tax-preferred plans: Health flexible spending accounts, health savings accounts, health reimbursement accounts, transportation accounts, and more. 401(k) and retirement plans. This can help employees see things they may not consider when they think of just take-home pay.