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There are four major types of employee benefits many employers offer: medical insurance, lifeinsurance, disability insurance, and retirement plans. Medical Insurance. Using untaxed dollars in an HSA to pay for deductibles, copayments, coinsurance, and some other expenses can lower overall health care costs.
With a 401(k), employees can elect to have a percentage of each paycheck deposited directly into an investment account. These funds may be deducted on a pre-tax basis depending on the type of 401(k) plan. There are some tax credits that can help offset the initial costs of offering a 401(k).
Double-check pretax deductions, coding for W-2 Box 12, and year-to-date figures. life and disability insurance) are processed before W-2s are processed. Calculate car allowances, insurance costs, etc. Balance quarterly reports and Forms 941 with the general ledger. Ensure that payroll -related items (e.g.,
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