Money Talk

JANUARY 18, 2023

Increased Savings Contribution Limits - Maximum limits for employer retirement plans (e.g., Standard Deduction - The amount of income taxpayers can shelter from income taxes rises with inflation (e.g., for couples filing jointly, the standard deduction is $27,700 in 2023 vs. $25,900 in 2022). million in 2022).

401(k) 246

401(k) Banking Deductible Deductions 246

Kollath CPA

FEBRUARY 10, 2022

When you’re filing your tax returns, what expenses can you deduct from business income? To start with, a business expense must be both ordinary and necessary to be deductible, according to the IRS. Deducting Business Expenses: Separating Fact From Myth. You must capitalize some costs rather than deduct them.

Deductible 80

Deductible Deductions Retirement Plan Taxes 80

Proskauer's Employee Benefits & Executive Compensa

JANUARY 31, 2023

provisions make some significant changes for retirement plans , but CAA 2023 also extends the telehealth plan safe harbor for high-deductible health plans (“HDHPs”) that were first introduced in the 2020 CARES Act. Generally, a participant must pay their HDHP’s deductible before the plan can cover medical services.

Deductible 98

Deductible Deductions Health Savings Account Retirement Plan 98

HR Lineup

APRIL 23, 2024

The information on Form W-2 includes total wages earned, federal and state income tax withheld, Social Security and Medicare taxes withheld, and any other deductions or contributions such as retirement plan contributions. Form 1099-R: Reports distributions from pensions, annuities, retirement plans, or insurance contracts.

Taxes 246

Taxes Employment Health Insurance Deductible 246

Money Talk

APRIL 14, 2022

Here are 12 tax topics to consider: Itemized Deductions- Only about 10% of taxpayers can itemize since the Tax Cuts and Jobs Act went into effect in 2018. President, most people can’t itemize without a plan. For example, you may qualify to deduct medical expenses on a state income tax return while you cannot on a federal return.

Taxes 189

Taxes Family and Medical Leave Act 401(k) Deductible 189

Money Talk

AUGUST 8, 2024

Not only does this provide an opportunity to catch possible errors and omissions, but it also provides valuable insights about household finances and a source of questions about tax calculations and future tax planning for my second visit. Otherwise, you could overlook valuable tax deductions (e.g.,

Taxes 176

Taxes Deductible Deductions Finance 176

Qandle

JANUARY 29, 2025

Benefits Compliance: Organizations must also stay compliant with benefits regulations, such as healthcare benefits under the Affordable Care Act (ACA) and retirement plans under ERISA. Payroll software simplifies this process by automatically applying the correct deductions based on employee benefits selections.

Payroll Software 90

Payroll Software Software Payroll Overtime 90

WEX Inc.

NOVEMBER 27, 2024

Nearly two-thirds of large employers provide their employees with the choice of a high-deductible health plan (HDHP) and a traditional health plan, such as a preferred provider organization (PPO), during open enrollment. If so, let’s start by breaking down the two plans. But there are high-deductible PPOs, as well.

Deductible 52

Deductible Deductions Health Savings Account Flexible Spending Account 52

HR Lineup

OCTOBER 18, 2023

This software is a comprehensive platform that allows HR professionals, benefits managers, and employees to efficiently manage, access, and make decisions regarding benefits such as health insurance, retirement plans, leave policies, and more. It offers automated benefits administration, including health insurance and retirement plans.

Software 246

Software Retirement Plan Health Insurance Payroll 246

Money Talk

DECEMBER 22, 2021

Other tax numbers that get indexed are the standard deduction, certain tax credits, and the deduction for business-related and medical mileage. Tax-Deferred Retirement Plan Limits - Like IRAs, maximum plan contributions are indexed for inflation.

401(k) 232

401(k) Pension Taxes Deductible 232

Money Talk

JULY 25, 2024

Continue Retirement Plan Contributions - Older self-employed adults can continue to contribute to Roth or traditional individual retirement accounts (IRAs) and simplified employee pension (SEP) or SIMPLE IRAs. They can be on Social Security and Medicare while earning money from self-employment.

Employment 162

Employment Health Insurance Pension Deductible 162

HR Lineup

JULY 6, 2023

Payroll Outsourcing: Payroll is a critical HR function that involves the calculation of employee salaries, tax deductions, and compliance with local labor laws. This type of outsourcing is particularly beneficial for organizations that require large-scale hiring or lack internal recruitment capabilities.

Human Resources 246

Human Resources Outsourcing Payroll Retirement Plan Payroll 246

Best Money Moves

OCTOBER 1, 2024

In fact, when surveyed by the National Association of Insurance Commissioners (NAIC), only about a quarter of Gen Z adults could define the terms “deductible” (27%) and “copay” (29%). However, Gen Z employees are particularly susceptible to a lack of education on insurance terms and policies.

Insurance 59

Insurance Deductible Deductions Education 59

HR Lineup

MAY 28, 2024

These programs go beyond the traditional healthcare and retirement plans, incorporating elements that cater to employees’ holistic well-being. They can range from traditional benefits like health insurance and retirement plans to more modern and creative offerings that cater to employees’ diverse needs and interests.

Health and Welfare 244

Health and Welfare Retirement Plan Health Insurance Parental Leave 244

WEX Inc.

JULY 24, 2023

Fortunately, there’s an often overlooked way to help employees build wealth and prepare for retirement. Why HSAs for retirement planning? These accounts provide another way for your employees to diversify their efforts to prepare for retirement. Click below to get your free HSA retirement white paper.

Retirement Plan 98

Retirement Plan 401(k) Health Savings Account Taxes 98

Money Talk

APRIL 11, 2024

One of the few things that taxpayers can do to reduce their income taxes after a calendar year ends is to make a tax-deductible contribution to a traditional individual retirement account (IRA) or a SEP-IRA (for small business owners and/or their employees). 401(k), 403(b), 457, or Thrift Savings Plan). There is no way out.

401(k) 185

401(k) Taxes Retirement Plan Pension 185

Business Management Daily

MAY 5, 2022

Fewer employees are covered by traditionally defined benefit plans. DB plans are retirement plans. The plan sponsor, most likely the employer, bears all the investment risk and pays you a fixed amount every month until you die. The undisputed fact is, however, 401(k) plans have morphed into retirement plans.

401(k) 133

401(k) Retirement Plan Deductible Deductions 133

Money Talk

JUNE 13, 2024

In a recent article for the Rutgers Cooperative Extension newsletter, VISIONS , I described key features of your tax return to review for future financial planning including income sources, tax write-offs, changes in tax filing status, tax rates and marginal tax brackets, tax withholding, retirement plan contributions, and capital gains and losses.

Taxes 125

Taxes 401(k) Retirement Plan Health Savings Account 125

Money Talk

DECEMBER 7, 2023

tax-deferred retirement plan contributions and charitable gifting) are already accounted for. Draft Tax Return - A draft tax return with “best estimates” of taxable income and tax write-offs is the first step in a year-end tax review. Year-to-Year Comparison - Once a draft 2023 tax return is prepared, compare it to 2022.

Taxes 158

Taxes Retirement Plan Deductible Deductions 158

InterWest Insurance Services

MARCH 22, 2022

The deadline is fast approaching for employers with 5 or more workers in California, and who do not already offer their employees a retirement plan, to register their staff for the CalSavers Retirement Savings Program. If you already have a qualified retirement plan for your employees, you do not have to participate.

401(k) 98

401(k) Retirement Plan Employment Deductible 98

WEX Inc.

MAY 8, 2023

More employees are enrolling in a high-deductible health plan (HDHP) each year, including more than half of U.S. But there are still misunderstandings that exist among employees about the significant value of an HDHP (or HSA-eligible health plan) and how it compares to a traditional health plan.

Deductible 97

Deductible Deductions Health Savings Account Employee Enrollments 97

WEX Inc.

JUNE 13, 2024

How is your HSA vs. your 401(k) vs. your IRA shaping up for retirement planning? Retirement planning is a lot easier when you imagine what you want it to be like. Will you retire in Florida, or at a cabin in the woods? Would you like to learn more about HSAs and retirement planning?

401(k) 96

401(k) Retirement Plan Health Savings Account Deductible 96

InterWest Insurance Services

NOVEMBER 25, 2022

The changes, which the IRS releases in November each year, will affect contribution limits for HSAs, FSAs and 401(k) and other retirement accounts. The maximum contribution levels are readjusted every year to account for inflation, along with maximum retirement plan contribution limits. Retirement plan maximums.

401(k) 98

401(k) Deductible Deductions Flexible Spending Account 98

Best Money Moves

DECEMBER 9, 2024

One method of support employers are providing will come in the form of affordable deductibles. According to the report, 40% of large companies will offer a medical plan with a low or no deductible.

roth 401(k) 52

roth 401(k) 401(k) Benefits Package Paid Leave 52

HR Lineup

JUNE 9, 2024

It handles payroll calculations, tax deductions, and salary disbursements with accuracy and efficiency. This includes handling health insurance, retirement plans, paid time off, and other employee perks. The system can manage different pay schedules, bonuses, and incentives, ensuring employees are paid correctly and on time.

Software 246

Software Payroll Human Resources Overtime 246

HR Lineup

OCTOBER 25, 2023

As we step into 2023, retirement planning has become more critical than ever. With the uncertainty surrounding the future of Social Security and the increasing life expectancy, having a solid retirement plan is essential. Their 401(k) plans are no exception, with a focus on simplicity and long-term wealth accumulation.

401(k) 130

401(k) Retirement Plan Taxes Education 130

HR Lineup

JUNE 29, 2023

It also handles tax deductions, benefits contributions, and compliance with labor laws, ensuring accurate and timely payments while reducing the risk of errors. Worklio also offers a powerful payroll management system that automates the calculation and distribution of employee salaries.

Payroll 130

Payroll Retirement Plan Commissions Health Insurance 130

Qandle

DECEMBER 5, 2023

Understanding Payroll Processing: At its core, payroll processing involves calculating employee compensation, including salaries, wages, bonuses, and deductions. Deductions for income tax, social security, and other statutory requirements must be precisely calculated and remitted. Looking for the Best HR Payroll Process ?

Payroll 98

Payroll Net Pay Gross Pay Payroll System 98

Patriot Software

NOVEMBER 27, 2024

How much can employees contribute to their retirement plans? Whether investing in a 401(k), IRA, or another retirement plan, you and your team should understand the rules and limits for 2025. Use our quick-reference chart to learn 401(k) contribution limits 2025, IRA contribution limits, and more.

401(k) 61

401(k) Retirement Plan Deductions Deductible 61

HR Lineup

DECEMBER 4, 2023

It supports various payment methods and deductions, making it adaptable to diverse payroll structures. From health insurance to retirement plans, the platform provides tools to customize and administer a range of benefits packages. One standout feature of Namely is its robust payroll management system.

Payroll 130

Payroll Retirement Plan Human Resources Health Insurance 130

HR Professionals Magazine

JULY 26, 2022

workers currently don’t have access to a retirement plan sponsored by their employer. To bridge this gap, a majority of states have contemplated state-mandated retirement savings plan legislation, and 13 have already signed such programs into law. Key retirement plan differentiators at a glance.

Retirement Plan 52

Retirement Plan 401(k) Employment Deductible 52

HR Professionals Magazine

SEPTEMBER 2, 2021

As an HR professional, you might read that title and think, “Duh – aren’t all retirement plans focused on employees?” As pensions have gone by the wayside and 401(k) plans have gained more notoriety, employees have become increasingly more aware of their employer sponsored retirement plans, and the financial benefits they provide.

Retirement Plan 52

Retirement Plan roth 401(k) 401(k) Taxes 52

InterWest Insurance Services

DECEMBER 20, 2022

Currently only companies with five or more employees who do not offer a retirement plan are required to enroll their workers in CalSavers. Employers that don’t provide a retirement plan for their workers, and who fail to register, can face a penalty of $250 per employee, as well as additional penalties for sustained noncompliance.

401(k) 98

401(k) Paid Sick Leave Retirement Plan Workers’ Compensation 98

HR Lineup

OCTOBER 18, 2023

It simplifies the process of calculating salaries, factoring in taxes, deductions, and benefits. Whether it’s health insurance, retirement plans, or any other employee benefits, Plane can manage it all in one central hub, simplifying the administrative burden.

Payroll 130

Payroll Retirement Plan Health Insurance Benefits Package 130

HR Lineup

JULY 10, 2023

The platform automates the entire payroll process, from calculating earnings and deductions to generating pay stubs and tax forms. It simplifies the enrollment and management of employee benefits programs, such as health insurance, retirement plans, and flexible spending accounts.

Flexible Spending Account 130

Flexible Spending Account Payroll Flexible Spending Retirement Plan 130

HR Lineup

JULY 11, 2023

In addition to precise wage calculations, Hourly takes care of payroll tax calculations and deductions. It automates the calculation of federal, state, and local taxes, as well as deductions for benefits, retirement plans, and other payroll-related items.

Overtime 100

Overtime Payroll Deductible Deductions 100

Qandle

SEPTEMBER 20, 2024

Payroll services ensure accurate and timely payment of wages, managing deductions, benefits, and tax withholdings. Core Features of HRMS Payroll Management: Automates payroll calculations, tax deductions, and paycheck generation. Recruitment and Onboarding: Facilitates the hiring process and streamlines new employee onboarding.

Payroll Manager 105

Payroll Manager Payroll Payroll Software Management 105