WEX Inc.

OCTOBER 2, 2024

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.

Employee Benefits 98

Employee Benefits Flexible Spending Account Health Savings Account Life Insurance 98

Flimp Communications

FEBRUARY 25, 2025

As the April tax filing deadline is nearing, Americas employees let out a collective groan. This isnt a comment on the economy or current tax policies. Tax season has always arrived with a jolt. Tax filing forces people to honestly assess their incomes, savings plans, and progress toward their financial goals.

Taxes 69

Taxes Deductible Deductions Flexible Spending Account 69

Take It Personel-ly

MARCH 1, 2021

If you recently became an employee who works from home, you might be wondering if you can use your home office as a tax deduction. Figuring out the home office tax deduction for a remote employee can be confusing, but we’re here to help break […]. According to one survey, 41.8%

Deductible 137

Deductible Deductions Taxes Work From Home 137

Money Talk

JUNE 28, 2023

It’s halftime for your 2023 finances and a perfect time to review where you stand, make mid-year adjustments, and complete recommended financial planning action steps. Below are ten mid-year financial tweaks and tasks: Tax-Deferred Savings Tweak - Perhaps you will get a raise on July 1. The 2023 maximum pre-tax contribution is $3,050.

Flexible Spending Account 242

Flexible Spending Account Banking Health Savings Account Taxes 242

Money Talk

OCTOBER 27, 2022

While taxpayers have until the tax filing deadline in April 2023 to contribute to an individual retirement account (IRA) for 2022, many people prefer to make all of their current year tax-saving moves before year-end. IRAs are not an investment, per se, but, rather, a special classification for tax purposes.

Deductible 245

Deductible Deductions Commissions Taxes 245

Money Talk

DECEMBER 7, 2023

As the year winds down so, too, does your opportunity to take proactive steps to reduce 2023 income tax due in April 2024 and, perhaps, taxes due in future years as well. Below are some money-saving tax planning strategies to consider. tax-deferred retirement plan contributions and charitable gifting) are already accounted for.

Taxes 158

Taxes Retirement Plan Deductible Deductions 158

Money Talk

JANUARY 18, 2023

Marginal Tax Brackets - Income ranges in the seven marginal tax brackets ranging from 10% to 37% are inflation-based. When bracket incomes rise, people may be taxed at lower tax rates. Standard Deduction - The amount of income taxpayers can shelter from income taxes rises with inflation (e.g.,

401(k) 246

401(k) Banking Deductible Deductions 246

Money Talk

OCTOBER 11, 2023

Tax Write-Off for Self-Employment Tax - On line 15 of Schedule 2 (for a 1040 form), self-employed workers can write off the deductible portion of their self-employment tax (calculated on Schedule SE), which will lower adjusted gross income (AGI), a trigger for many other taxes.

Employment 215

Employment Deductible Deductions Taxes 215

Money Talk

SEPTEMBER 30, 2022

Many are middle income taxpayers who diligently saved and invested for 4-5 decades in tax-advantaged plans. As I wrote in my book Flipping a Switch , some older adults must “plan for higher taxes in the future, especially when required minimum distributions (RMDs) kick in.” IRMAA surcharges. to $573.30 for Medicare Part B and $12.40

401(k) 245

401(k) Taxes Pension Deductible 245

Money Talk

JUNE 13, 2024

With the 2023 tax filing deadline in the rear view mirror, now is a good time to look ahead to 2024 taxes that you will owe in April 2025. This post extends that discussion with a description of seven key steps to take to plan for your 2024 tax return due in 2025. The IRS withholding estimator can help make this calculations.

Taxes 125

Taxes 401(k) Retirement Plan Health Savings Account 125

HR Lineup

SEPTEMBER 25, 2023

Global payroll refers to the process of managing employee compensation , tax compliance, and other related financial responsibilities across international borders. Integration with HR and Finance Systems: Integrating global payroll with other systems, such as human resources and finance, is essential for efficiency and accuracy.

Global Payroll 238

Global Payroll Payroll Payroll System Payroll Software 238

Business Management Daily

JUNE 26, 2023

Either way, you’ll need to master the basics of business finance if you want to find success. Even employees not working directly in finance generally need a basic understanding of it to succeed. Nothing exists in a bubble, and business finance is no different. Why is that?

Finance 105

Finance Banking 401(k) Deductible 105

Qandle

JANUARY 29, 2025

For companies of all sizes, adhering to labor rules, tax laws, and industry standards is a major challenge. These laws may include tax regulations, labor laws, social security contributions, and employee benefits mandates. They can also change frequently due to updates in labor laws, tax codes, or social security policies.

Payroll Software 93

Payroll Software Software Payroll Overtime 93

Money Talk

DECEMBER 22, 2021

Income Tax Changes - Each year, income ranges for federal marginal tax brackets are indexed for inflation. The IRS publishes tables with the income ranges for four filing status categories and seven tax rates that currently range from 10% to 37%. Estate and Gift Tax Exemption - The exemption amount in 2022 will be $12.06

401(k) 232

401(k) Pension Taxes Deductible 232

Money Talk

APRIL 11, 2024

The 2023 income tax filing deadline is only days away (April 15, 2024 in most of the U.S.). It will be a busy weekend for many taxpayers and tax preparers who are filing tax returns or tax filing extensions. money that has been taxed) and can be withdrawn at any time for any reason tax-free and penalty-free.

401(k) 185

401(k) Taxes Retirement Plan Pension 185

Money Talk

NOVEMBER 9, 2023

when there are no more early withdrawal penalties on money removed from tax-deferred accounts) and the start of required minimum distributions (RMDs). Many people are in a lower marginal tax bracket during their gap years (especially after leaving a primary career) than they will be later when RMD withdrawals must begin.

Pension 191

Pension Taxes Deductible Deductions 191

Money Talk

AUGUST 10, 2022

67 for workers born in 1960 or later), Social Security deducts $1 from benefits for every $2 earned above the annual limit ($19,560 in 2022). Tax on Social Security Benefits - Income from unretiring may push older taxpayers into the income range where tax is due on a portion of Social Security benefits.

Disability Insurance 246

Disability Insurance Taxes Health Insurance Pension 246

Money Talk

JULY 25, 2024

It is also easier to keep personal and business finances separate by maintaining dedicated bank accounts and credit cards for business transactions. Stick to a Schedule - Invoicing clients promptly and following up on overdue payments can maintain healthy cash flow and avoid disruptions to personal finances. of net business income.

Employment 162

Employment Health Insurance Pension Deductible 162

Money Talk

JUNE 16, 2023

Of course, policy deductibles (e.g., $500) This post provides general personal finance or consumer decision-making information and does not address all the variables that apply to an individual’s unique situation. All policies have very specific language about types of losses that are covered (e.g., Save receipts for reimbursement.

Deductible 240

Deductible Deductions Insurance Banking 240

Money Talk

JANUARY 19, 2022

Make Tax-Advantaged Gifts - Consider “bunching” charitable donations with other tax deductions (e.g., state income tax and local property tax) every so often (e.g., high income years) to exceed the standard deduction and benefit from itemizing. All of these will impact 2021 taxes that are due in April.

Flexible Spending Account 187

Flexible Spending Account Taxes Pension Deductible 187

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

HR Lineup

DECEMBER 1, 2023

QuickBooks Contractor Edition: Streamlining Finances with Precision QuickBooks Contractor Edition continues to be a stalwart in the realm of contractor payroll software. With features like automatic tax calculations, invoicing, and expense tracking, it remains a top choice for businesses looking for a comprehensive solution.

Payroll Software 246

Payroll Software Payroll Software Taxes 246

Money Talk

JUNE 29, 2022

Last year, I wrote a blog post about mid-year financial check-up s for the OneOp Personal Finance team. In it, I urged a review of tax deductions/credits, tax withholding, budgeting/cash flow, flexible spending accounts, financial goal progress, and investment portfolio status.

401(k) 189

401(k) Out of Pocket Cost Finance Flexible Spending Account 189

Employee Benefits

JANUARY 19, 2023

As the cost of living crisis continues, it is now more important than ever that new parents understand how their finances will be affected and what actions they can take. WEALTH at work, a leading financial wellbeing and retirement specialist, highlights some top tips to help new parents stay in control of their finances: 1.

Finance 105

Finance Parental Leave Pension Salary 105

Employee Benefits

DECEMBER 19, 2023

It’s now more important than ever to support employees to take control of their finances. Create a budget – The first step to taking control of your finances is to create a budget. Many employers offer payroll-deducted savings schemes for effortless saving. Some banks have apps which enable this to be done automatically.

Finance 104

Finance Banking Pension Insurance 104

Money Talk

AUGUST 16, 2023

Tax on Social Security Benefits - Those who work and claim benefits will trigger taxes with a combined income above $25,000 (individuals) or $32,000 (married couples filing jointly). Continued FICA Tax - Like all workers, employed older adults must pay Social Security/ Medicare tax.

Taxes 130

Taxes Pension Deductible Deductions 130

Hppy

OCTOBER 28, 2024

Highlighting earnings and deductions, as well as paystubs, fosters transparency and trust between employers and employees. By providing a detailed record of wages and deductions, they help both employers and employees meet legal requirements. They provide a detailed breakdown of wages, taxes, and deductions.

Net Pay 36

Net Pay Deductible Deductions Management 36

Money Talk

AUGUST 15, 2024

Example: The amount provided by mortgage interest deductions is three times that of housing subsidies. No taxes are owed on VA disability compensation and Veterans can receive both VA and Social Security disability. Also, the U.S. does a poor job of connecting people to programs they need and it subsidizes affluence instead of poverty.

Financial Counseling 140

Financial Counseling Education Finance Deductible 140

Best Money Moves

DECEMBER 9, 2024

With a dedicated financial wellness program, you can help employees manage their finances reducing stress and improving productivity. This added stress can drastically affect an employees finances, especially if they do not have an adequate amount saved and now, companies are providing solutions.

roth 401(k) 52

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

WEX Inc.

JANUARY 9, 2025

Open enrollment is an important time for HR professionals and employers, since its the moment employees make decisions that impact their health, finances, and overall wellness for the coming year. Common topics include: Clarification of coverage details Questions about deductibles, copays, or reimbursement processes.

Employee Benefits 52

Employee Benefits Health Savings Account Taxes Education 52

HR Lineup

SEPTEMBER 4, 2023

Tax Compliance: The system keeps up with ever-changing tax laws and regulations, helping businesses stay compliant and avoid costly penalties. Reports and Analytics: Users can generate comprehensive payroll reports, helping HR and finance teams gain insights into labor costs, deductions, and tax liabilities.

Payroll Software 130

Payroll Software Payroll Payroll Manager Human Resources 130

Money Talk

DECEMBER 21, 2022

Dollar-cost averaging works best if investment deposits are “automated,” such as authorizing 401(k) plan payroll deductions or automatically debiting a bank account monthly for mutual fund share purchases. For example, $100 in a mutual fund or 5% of pay every payday in an employer retirement savings plan.

401(k) 180

401(k) Banking Food Deductible 180

HR Lineup

AUGUST 8, 2023

With a cloud-based platform, PayFit offers the flexibility of access from anywhere, ensuring seamless collaboration and efficiency for HR and finance departments. Employers can easily set up employee profiles, input salary information, tax details, and deductions, and the software takes care of the rest.

Payroll Software 130

Payroll Software Payroll Payroll Manager Software 130

HR Lineup

APRIL 1, 2024

Managing international payroll can be complex due to differences in tax laws, regulations, and currency exchange rates. It involves calculating and reporting the income tax and social security obligations of employees in both their home country and the host country where they work. How Does Shadow Payroll Work?

Payroll 130

Payroll Payroll System IT Taxes 130

Benefit Resource Inc.

DECEMBER 8, 2023

As we celebrate the 20th anniversary of Health Savings Accounts (HSAs), it’s time to reflect on the transformative impact this financial tool has had on healthcare and personal finance. Key Benefits of HSAs Tax Advantages: One of the main attractions of HSAs is their triple tax advantage.

Health Savings Account 98

Health Savings Account Flexible Spending Account Healthcare Taxes 98

Qandle

FEBRUARY 12, 2025

It integrates various functions like employee attendance, salary calculation, tax management, benefits administration, and statutory compliance, all within one unified platform. This system automates the tedious tasks of calculating salaries, generating payslips, and ensuring accurate tax deductions, saving valuable time for HR professionals.

Payroll 52

Payroll Payroll Manager Payroll System Deductible 52

HR Lineup

AUGUST 2, 2023

By automating payroll calculations, tax deductions, and compliance reporting, the platform reduces the risk of errors and saves significant time for finance and HR teams alike. Additionally, Mosaic HCM stays up-to-date with the latest tax regulations and labor laws, ensuring businesses stay compliant at all times.

Payroll 130

Payroll Deductible Deductions Taxes 130