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 Deductible Deductions 98

Employee Benefits

MAY 16, 2023

Employers can help by offering flexible work arrangements, discounted leisure and dining vouchers, and signposting staff to government support. Employers that can be seen to help will benefit from more productive and motivated staff. Flexible-working arrangements are an obvious place to start.

Employment 111

Employment Government Taxes Entertainment 111

Employee Benefits

JULY 17, 2024

The Transfer of Undertakings (Protection of Employment) Regulations 2006 (Tupe), the UK law which implemented the Acquired Rights Directive into UK law, require that an employer acquiring the employees and possibly workers of another must honour their terms and conditions, including holiday, pay and other benefits, with very limited exceptions.

Employment 108

Employment Consulting Government Employee Benefits 108

Business Management Daily

AUGUST 2, 2022

The DOL stated that the proposed rule is in response to the frequent misclassification of employees, which they called “one of the most serious problems facing affected employees, employers, and the U.S. These frequent changes make it difficult for employers to keep up. Who can be classified as an independent contractor?

Employment 98

Employment Taxes PTO Overtime 98

Employee Benefits

JANUARY 24, 2024

Crypto currency is subject to income tax when an employee receives it but could also incur a capital gains tax charge if they hold it for more than 30 days. And, while most people are happy to watch the roller coaster ride from the sidelines, employers are beginning to consider crypto as part of their pay strategies.

Global Payroll 105

Global Payroll Employment Taxes Pension 105

Employee Benefits

AUGUST 19, 2024

Credit: Mistervlad/Shutterstock Need to know: The Labour government’s Employment Rights Bill will enhance employee rights but there are concerns that proposals could have unintended consequences, adding cost, disadvantaging some businesses and their employees, and affecting recruitment strategies.

Government 104

Government Pension Employment Consulting 104

Employee Benefits

JANUARY 16, 2023

Record high inflation in the UK is resulting in some employers increasing pay levels in an attempt to keep up. Alongside one-off payments and pay rises, employers may want to consider investing in a long-term strategy to ensure the financial wellbeing of their employees. Pay strategy changes.

Employment 105

Employment Salary Consulting Pension 105

WEX Inc.

JULY 10, 2024

Did you know employers can enhance their benefits offerings by incorporating voluntary benefits? But what exactly are voluntary benefits, and how can employers design an effective plan? Voluntary benefits are additional benefits offered by employers that are typically paid for by employees. It is not legal or tax advice.

Voluntary Benefits 98

Voluntary Benefits Disability Insurance Utilities Taxes 98

WEX Inc.

MARCH 20, 2023

If you’re an employer, is your in-house benefits administration team struggling to juggle the multitude of complexities behind running a successful benefits administration program? Luckily for you, we’re sharing our insights on the top four questions employers ask when considering outsourcing benefits administration.

Employment 98

Employment Flexible Spending Account Flexible Spending Education 98

Employee Benefits

SEPTEMBER 15, 2023

HM Revenue and Customs (HMRC) has published a consultation on proposed amendments to regulations that will allow employers to delay reporting advance salary payments made to an employee. The post HMRC publishes consultation on reporting salary advances appeared first on Employee Benefits.

Consulting 59

Consulting Salary Taxes Insurance 59

WEX Inc.

AUGUST 29, 2024

There is a wide range of potential treatments and services, including: In vitro fertilization (IVF) Fertility medications Diagnostic testing Egg freezing Fertility counseling and consultations Adoption assistance And more What fertility treatment does an HSA or FSA cover? It is not legal or tax advice. Here are a few to-dos for you.

Flexible Spending Account 98

Flexible Spending Account Health Savings Account Flexible Spending Medical 98

WEX Inc.

OCTOBER 30, 2024

As an employer, providing a robust employee benefits package is only half the battle. Health savings accounts (HSAs) HSA participants save money by contributing funds to their HSA pre-tax. Ensure these resources highlight the triple-tax savings, long-term investment potential, and portability between jobs that HSAs offer.

Education 95

Education Health Savings Account Taxes Consulting 95

WEX Inc.

JULY 30, 2024

But employees remain top of mind for employers, with 55% of businesses saying they will not reduce salaries if there is a recession, and 47% saying they will not reduce benefits. In 2022, our annual employer survey showed that the biggest challenges employers face with benefits are within education.

Taxes 98

Taxes Education Benefits Package Salary 98

Employee Benefits

JULY 21, 2023

The Department for Work and Pensions and Department of Health and Social Care have published a consultation on ways to increase take up of occupational health provision. The proposals include introducing a national health at work standard for all employers to provide a baseline for quality occupational health provision.

Consulting 52

Consulting Government Pension Taxes 52

WEX Inc.

JUNE 18, 2024

According to the Bureau of Labor Statistics , employers typically pay around 80% of traditional employer-sponsored healthcare plans on behalf of employees. By focusing on early intervention and wellness initiatives , employers can address health concerns before they escalate into costly medical interventions.

Healthcare 98

Healthcare Utilities Medical Taxes 98

Employee Benefits

FEBRUARY 1, 2023

The Department of Work and Pensions (DWP) has launched a public consultation on a policy framework for broadening collective defined contribution (CDC) provision in pension schemes. The consultation began this week and will close on Monday 27 March.

Pension 64

Pension Consulting Government Employee Benefits 64

WEX Inc.

JANUARY 6, 2025

Your ability to spend down funds depends on a number of factors, and those factors can be specific to your employers FSA. Health reimbursement arrangement (HRA) Generally, your employer must offer you access to your HRA as part of your COBRA coverage. It is not legal or tax advice. Subscribe to our blog to learn more!

Employee Benefits 98

Employee Benefits Flexible Spending Account Health Savings Account Flexible Spending 98

Qandle

JULY 10, 2024

Professional Employer Organizations (PEOs) have emerged as a strategic solution for managing human resources effectively. What is Professional Employer Organization (PEO)? What is Professional Employer Organization (PEO)? Looking for the Best HR Software India ? Check out the Best HR Software India.

Professional Employer Organization 77

Professional Employer Organization Employment Benefits Package Payroll 77

WEX Inc.

JUNE 25, 2024

Employers are increasingly recognizing the importance of providing ample time off to their employees with more than 80% of U.S. employers planning to change their leave policies over the next two years. And employers are recognizing this more than ever. It is not legal or tax advice. The percentage of U.S.

Paid Leave 98

Paid Leave Parental Leave Taxes Consulting 98

WEX Inc.

SEPTEMBER 19, 2024

It is not legal or tax advice. For legal or tax advice, you should consult your own legal counsel, tax and investment advisers. Vision costs eligible for HSA and FSA funds Beyond routine examinations and eye procedures, there’s an array of vision-related expenses that can be purchased using HSA and FSA funds.

Health 98

Health Flexible Spending Account Health Savings Account Flexible Spending 98

WEX Inc.

JUNE 13, 2024

An HSA is … A health savings account (HSA) is a tax-advantage account that participants can pay for healthcare expenses, save for the future, and invest to build your savings. HSAs are portable, meaning that you can take it with you if you change employers and into retirement where funds may be used for non-qualified medical expenses.

401(k) 96

401(k) Retirement Plan Health Savings Account Deductible 96

Attorney Charlie Hall

AUGUST 15, 2021

The field offices verify non-medical eligibility requirements, which may include claimant’s age, marital status, employment details, citizenship status, residency information, and Social Security coverage information. During a Consultative Examination, an independent physician or psychologist conducts an examination of the claimant.

Medical 228

Medical Consulting Disability Insurance Government 228

HR Digest

AUGUST 28, 2023

What happens to solo 401k when you’re no longer self-employer? With the ability to make both employee and employer contributions, the Solo 401k allows you to save and invest more compared to traditional retirement plans. This mini-guide explores whether a solo 401k is a good idea for individuals like you. But how does a solo 401k work?

401(k) 98

401(k) Retirement Plan Taxes Consulting 98

Employee Benefits

NOVEMBER 22, 2023

The government is to consult on expanding the Pension Protection Fund’s (PPF) role to act as a consolidator for defined benefit (DB) pension schemes that are deemed “unattractive to commercial providers” and are not currently served by the market. Any public consolidator must be voluntary and separate.”

Consulting 59

Consulting Government Pension Finance 59

WEX Inc.

NOVEMBER 14, 2024

Health savings account An HSA is an individually owned benefits plan funded by you or your employer that lets you save on purchases of eligible expenses. 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.

401(k) 98

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

WEX Inc.

MAY 4, 2023

The IRS emphasized these requirements and potential penalties for employers not meeting the requirements when releasing an Office of the Chief Counsel memorandum last week detailing medical expense claim substantiation for medical FSAs and dependent care FSAs. FSAs are a great way for employers and employees to save.

Flexible Spending Account 98

Flexible Spending Account Flexible Spending Taxes Medical 98

Insperity

FEBRUARY 11, 2021

As an employer you shoulder a lot of responsibility, especially when it comes to employee compensation. Not only do you have to figure out the proper way to pay your people, you have to withhold the appropriate taxes, deposit them and report them to the government. Locate or apply for your tax ID. Gather W-4s from employees.

Payroll 104

Payroll Overtime Deductible Deductions 104

Insperity

AUGUST 5, 2021

Before you start to pack any boxes, obviously, it’s wise to consult legal counsel. How might taxes, payroll and your company’s relocation impact your business? How might taxes, payroll and your company’s relocation impact your business? A tax expert can be useful as you explore this aspect of a potential move.

Taxes 105

Taxes Payroll Payroll Service Consulting 105

WEX Inc.

OCTOBER 9, 2024

It’s time to clarify the ins and outs of these tax-saving healthcare accounts and answer some HSA and FSA FAQs. Both allow employees to set aside pre-tax funds to cover qualified medical expenses, but that’s where most of the similarities end. While this is technically possible, it depends on the type of FSA offered by the employer.

Flexible Spending Account 95

Flexible Spending Account Health Savings Account Flexible Spending Taxes 95

WEX Inc.

JULY 9, 2023

A dependent care flexible spending account lets participants set aside pre-tax dollars to help pay for dependent care. Contributing to this benefit reduces taxable income and spreads the benefits of pre-tax dollars throughout the year, helping you save 30 percent or more on your dependent care costs. It is not legal or tax advice.

Flexible Spending Account 98

Flexible Spending Account Flexible Spending Taxes Consulting 98

Achievers

MARCH 7, 2017

Employee Engagement Consultant, Achievers. Employee engagement at work is very much determined by the type of environment and the people that populate said environment, so making sure your personal values align with those of your future employer, in both a cultural and business context is essential. By: Phoebe Licata.

Consulting 136

Consulting Salary Utilities Taxes 136

WEX Inc.

MAY 10, 2024

An HSA participant can use their funds to pay for eligible expenses for: Themselves Their spouse Any HSA eligible dependents claimed on their tax return Anyone they could have claimed as a dependent but weren’t able to What happens when a participant contributes more to their HSA than is allowed? It is not legal or tax advice.

Health Savings Account 105

Health Savings Account Deductible Deductions Taxes 105

WEX Inc.

MAY 29, 2024

By optimizing employee benefits and creating a supportive environment, employers can enhance the employee experience at every stage of their journey, from onboarding to retirement. Effective employee lifecycle support is crucial for employers.

Retirement Plan 98

Retirement Plan Taxes Health Insurance Recruitment 98

WEX Inc.

MARCH 14, 2023

Increasingly, employers are offering a lifestyle spending account (LSA) as a way to support their employees’ wellness needs. An LSA is an employer-funded, post-tax spending account, with eligible expenses and plan details customized by your employer. Your employer decides the contribution amount each year.

Taxes 98

Taxes Consulting Education Employment 98

Achievers

NOVEMBER 1, 2016

One Catalyst estimate states that turnover-related costs amount to 12 percent of pre-tax income for a typical company; and these figures don’t begin to describe the internal stress created when someone quits, or the hit your brand can take if a disgruntled departing worker shares their displeasure on social media.

Employee Retention 181

Employee Retention Employee Recognition Work From Home Media 181

Kollath CPA

NOVEMBER 24, 2021

To offer potential tax benefits. . Sometimes, corporate tax rates are lower than individual tax rates. Plus, there are additional tax benefits and deductions for corporations that are not available to individuals. By incorporating, you’ll lower what you owe in self-employment taxes — but not always.

Taxes 97

Taxes Deductible Deductions Banking 97

WEX Inc.

AUGUST 23, 2023

And they serve as an excellent cost-effective recruitment and retention tool for employers as they look for ways to improve their benefits offerings. Health Voluntary benefits help employers fill any additional health needs that might not be covered by typical health insurance. It is not legal or tax advice. Go to our webpage.

Voluntary Benefits 98

Voluntary Benefits Disability Insurance Life Insurance Insurance 98