Remove Deductible Remove Deductions Remove Information
article thumbnail

How to Create a Pay Stub for Employees?

HR Lineup

A pay stub not only serves as a record of an employee’s earnings but also provides crucial information about deductions, taxes, and other financial details. Employee Information: Full name Address Employee identification or social security number Pay period dates 2. Input employee and payment information manually.

Net Pay 246
article thumbnail

4 considerations when choosing employee benefits for the first time

WEX Inc.

To take advantage of an HSA, you need to participate in an HSA-eligible health plan (or high-deductible health plan). HSA-eligible health plans typically have lower premiums but higher deductibles. Assess your ability to cover the deductible before choosing this plan.

Insiders

Sign Up for our Newsletter

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

article thumbnail

Your HSA and your tax return: 4 tips for filing

WEX Inc.

We wanted to share a few tips and reminders about the health savings account (HSA) information youll need for your tax return. It also shows pre-tax contributions made to your account by you and your employer through payroll deductions. The season for filing taxes is upon us once again. This form is not a requirement when filing taxes.

Taxes 98
article thumbnail

Ten Tax Planning Tips for 2022

Money Talk

Since there is no longer a non-itemizer’s charitable deduction in 2022 and only about 10% of tax filers itemize, you’ll probably have fewer receipts to save. The 2022 standard deduction is $12,950 for individuals ($14,700 age 65+) and $25,900 for married filing jointly ($28,700 if both spouses are age 65+).

Taxes 263
article thumbnail

Connecticut DOL Issues EWA Guidance for Employers

PayrollOrg

The Connecticut Department of Labor has issued earned wage access (EWA) guidance for employers that includes information about wage deductions for fees.

article thumbnail

IRS Loosens Preventive Care Coverage Rules

InterWest Insurance Services

New guidance issued by the IRS expands the types of preventive care benefits that high-deductible health plans are required to cover with no out-of-pocket costs on the part of plan enrollees. Benefits under HDHPs typically do not kick in until the enrollee has met their deductible.

article thumbnail

Thirteen Tax Topics for Older Adults

Money Talk

Increased Standard Deduction - Taxpayers age 65+ (and those who are blind) get an increased standard deduction on federal income taxes. For singles in 2022, the standard deduction is $14,700 ($12,950 + $1,750 additional for age 65+). of AGI can be deducted on Schedule A.

Taxes 245