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Understanding Service Rewards and Taxation Benefits in the US

Vantage Circle

A significant return on investment from awards is augmented by their tax deductibility. As per the Internal Revenue Service, you can deduct up to $400 for non-qualified employee achievement awards and $1,600 for qualified awards given to the same employee within a year.

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Your HSA and your tax return: 4 tips for filing

WEX Inc.

It also shows pre-tax contributions made to your account by you and your employer through payroll deductions. Its a little different from your W-2 because itll show any contributions not just those made through payroll deductions. This article walks you through how to complete Form 8889.

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Choosing between a low- or high-deductible health plan

PeopleKeep

Whether you’re an employer looking for group plan options or an individual looking for yourself and your family, the question that is likely on your mind is: “Is it better to have a high deductible health plan (HDHP) or a low deductible health plan (LDHP)?”.

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What to do if your zero-deductible health plan goes away

PeopleKeep

One option that appeals to many employers is the zero-deductible health plan because it means the insurance company will start accepting claims from the very beginning. However, premium costs and deductibles are inversely related, so a plan with no or low deductibles means higher premiums.

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Final Paycheck Has Too Many Deductions – Ask #HR Bartender

HR Bartender

Today’s reader note is questioning the number of deductions on their final pay. Now, my deductions are through the roof – making my net pay very small. Now, my deductions are through the roof – making my net pay very small. Also, you can see another great SHRM article here. Of course, SHRM is a great resource.

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Coping With the Aftermath of a Disaster

Money Talk

Of course, policy deductibles (e.g., $500) All policies have very specific language about types of losses that are covered (e.g., hurricane damage) and those that are not (e.g., flood damage and business use of a home). 500) apply before any damage claims are paid. Learn the Claims Process - Write down the steps to file a claim.

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What is Nonqualified Deferred Compensation?

HR Lineup

Nonqualified deferred compensation (NQDC) plans are among the benefits employers use to retain top talent , and if you are wondering what they are, this article clarifies everything. Note that with both plans, tax accumulates, and the IRS will deduct employees during retirement as if they were ordinary income. .

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