Remove Bonuses Remove Health Savings Account Remove Life Insurance
article thumbnail

What are fringe benefits? What employers need to know

Insperity

You might also want to add non-taxable perks such as time off for volunteering in the community, the occasional theater and sporting event tickets or marathon sponsorships. Some states may also tax fringe benefits, so be sure to check with your state tax authority before designing a fringe benefits package.

article thumbnail

Leap year! How to handle 27 biweekly payrolls in 2020

Business Management Daily

Ditto for bonuses that are based on actual wages paid. Best practice: List all benefits and deductions to determine whether they’re impacted: Medical, dental, life, vision, group-term life insurance, long-term disability, dependent care, flexible spending accounts and health savings accounts.

Payroll 83
Insiders

Sign Up for our Newsletter

This site is protected by reCAPTCHA and the Google Privacy Policy and Terms of Service apply.

article thumbnail

16+ types of employee benefits you should consider

Genesis HR Solutions

There are four major types of employee benefits many employers offer: medical insurance, life insurance, disability insurance, and retirement plans. Medical Insurance. Employees don’t pay taxes on this money, which means they save an amount equal to the taxes they would have paid on the money you set aside.

401(k) 98
article thumbnail

4 Life Hacks to Extend the Value of Your Benefits

Benefit Resource Inc.

We are all faced with choices every day which can lead you to save time or money. Use paid time (and personal savings) for a relaxing vacation. Take out a life insurance policy for added peace of mind. Additionally, you may also already have a built-in savings option to pay for your COBRA premiums.

401(k) 98
article thumbnail

Identifying the “Perks” on National Employee Benefits Day

Benefit Resource Inc.

Don’t forget about Specialty Accounts (Lifestyle Accounts) ! These personalized benefits have become increasingly popular in the workplace. They provide employers with incredible options to customize their benefits plans to suit their unique needs and budgets.

article thumbnail

What Are fringe benefits? Options, taxability, and other considerations.

Business Management Daily

Fringe benefits can include: Cash bonuses Extra vacation time Paternity leave or extended maternity leave On-site amenities Childcare Wellness plans Retirement planning services Monthly stipends for work expenses Unless they’re working in a highly competitive field, most employees expect employers to offer fringe benefits , at least on some level.

Taxes 52