InterWest Insurance Services

DECEMBER 5, 2024

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.

Out of Pocket Cost 97

Out of Pocket Cost Health Savings Account Deductible Deductions 97

Money Talk

MAY 18, 2022

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. Ramp Up Retirement Savings - Consider increasing retirement savings in a tax-deferred employer retirement savings plan (e.g., 401(k), 403(b), and traditional IRA).

Taxes 263

Taxes 401(k) Deductible Deductions 263

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. You must be enrolled in a high-deductible health plan (HDHP) to be eligible, which lowers you insurance premiums. Your employer owns your FSA.

401(k) 98

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

Money Talk

MARCH 4, 2022

Required Minimum Distributions (RMDs) - Taxpayers with traditional IRAs, SEPs (self-employed), and employer retirement savings plans (401(k), 403(b), 457, and TSP) must begin annual RMDs upon reaching age 72. Increased Standard Deduction - Taxpayers age 65+ (and those who are blind) get an increased standard deduction on federal income taxes.

Taxes 245

Taxes 401(k) Deductible Deductions 245

Money Talk

OCTOBER 27, 2022

Below is a discussion of IRAs and details about how they can lower your taxes and provide a retirement savings nest egg: Description - An IRA enables workers with earned income (salary from a job or net earnings from self-employment) to save and invest for retirement. For additional information about IRAs, review this U.S.

Deductible 245

Deductible Deductions Commissions Taxes 245

HR Lineup

JULY 4, 2024

With the rising costs of transportation and the increasing awareness of environmental sustainability, commuter benefits have become an essential consideration for both employers and employees. By subsidizing these costs, employers help reduce the financial burden on employees who use public transportation to commute to work.

Transportation 246

Transportation Taxes Deductible Deductions 246

InterWest Insurance Services

FEBRUARY 20, 2024

With more than half of all private sector employees enrolled in high-deductible health plans , it’s important that employers have in place certain protocols to ensure that they are a success. The employer can also contribute to its employees’ HSAs to encourage participation.

Deductible 98

Deductible Deductions Out of Pocket Cost Health Savings Account 98

Qandle

DECEMBER 11, 2023

Human Resources Information Systems (HRIS) are software solutions designed to streamline and enhance various HR functions within an organization. HRIS serves as a comprehensive database for employee information and supports a wide range of HR activities. What Is HR Information Systems ? Check out the HR Information Systems.

Human Resources 105

Human Resources Payroll Software Retirement Plan 105

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

Money Talk

JUNE 8, 2022

Many older adults also have multiple income sources including Social Security, a pension, full-or part-time work or self-employment, withdrawals from retirement savings (including taxable required minimum distributions or RMDs), and interest, dividends, and capital gains on investments. In other instances (e.g.,

Taxes 278

Taxes Pension Deductible Deductions 278

Qandle

JANUARY 29, 2025

Some of the most common compliance risks that businesses face in payroll include: Tax Compliance Risks: Employers are responsible for withholding federal, state, and local taxes from employee wages and remitting these amounts to the appropriate tax authorities. This helps reduce the risk of non-compliance caused by outdated information.

Payroll Software 90

Payroll Software Software Payroll Overtime 90

HR Lineup

JANUARY 2, 2022

Filing federal and state tax returns online can be challenging and overwhelming for employers. Since the process needs to be seamless and fast, employers are looking for effective tax filing solutions. These include ease of use, affordability, ability to identify credits and deductions, customer service, to name a few.

Taxes 245

Taxes Software Payroll Deductible 245

HR Lineup

JUNE 18, 2024

These notices are typically issued by legitimate employers, job portals, recruitment agencies , and even government bodies. They serve to: Warn Job Seekers: Informing potential candidates about the existence of scams. Legal and Reporting Information: Guiding victims on how to report the scam to authorities.

Recruitment 245

Recruitment IT Banking Media 245

CorpStrat

DECEMBER 4, 2024

As the year winds down, employers have a crucial opportunity to fine-tune their employee benefits strategy. Use multiple channels—emails, webinars, printed guides, or one-on-one meetings—to make sure everyone feels informed and confident in their choices. Review 2025 Plan Design Changes Have you updated your plans for 2025?

Employee Benefits 52

Employee Benefits Employment Disability Insurance Health Savings Account 52

Money Talk

MARCH 22, 2023

I recently attended a NY Public Library webinar about tax planning and below is a summary: Standard Deduction - 2023 saw the largest ever automatic adjustment to standard deductions since indexing was introduced in the 1980s. A larger standard deduction means that taxpayers can shelter more income from income taxes.

Taxes 189

Taxes 401(k) Deductible Deductions 189

HR Lineup

MAY 14, 2024

In the realm of labor rights and employment regulations, ensuring fair wages is paramount. This article delves into what the Wage Protection System entails, its objectives, implementation, and its impact on both employers and employees. It acts as a safeguard against exploitation and arbitrary deductions by employers.

Electronics 237

Electronics Salary Government Banking 237

HR Lineup

JUNE 9, 2024

In the rapidly evolving world of business, managing employee information efficiently is critical for organizational success. Here, we explore the ten best employee database software in 2024, evaluating their features, benefits, and potential drawbacks to help you make an informed decision. What is Employee Database Software?

Software 246

Software Payroll Human Resources Overtime 246

WEX Inc.

JULY 20, 2023

Deductible options The words “health”, “coverage”, “insurance”, and “deductible” were among the most frequent words to appear when participants were asked in our survey what was missing from their benefits. Specific responses included: “A lower deductible or copay options would be an improvement.” Deductibles are too high.

Deductible 75

Deductible Deductions Flexible Spending Account Health Savings Account 75

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 Withholding Adjustments - Adding income from employment to what could be multiple streams of income in later life (e.g.,

Disability Insurance 246

Disability Insurance Taxes Health Insurance Pension 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. Strategies to garner a tax benefit for charitable gifts to qualified charities include “bunching” deductions into one tax year and setting up and funding a donor advised fund.

Taxes 189

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

Money Talk

SEPTEMBER 30, 2022

A letter from the Social Security Administration (SSA) notifies beneficiaries of their expected benefit, including IRMAA deductions, if any. Three IRMAA Action Steps ¨ Reduce MAGI- MAGI is based on adjusted gross income (AGI) plus tax-exempt interest income and certain deductions that are added back. You can be grateful and strategic.

401(k) 245

401(k) Taxes Pension Deductible 245

WEX Inc.

NOVEMBER 27, 2024

One emerging trend is employers offering their employees health plan options. 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. What’s an HDHP?

Deductible 52

Deductible Deductions Health Savings Account Flexible Spending Account 52

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. Employers with 50 or more workers – The deadline for registration was June 30, 2021. Employers can register here.

401(k) 98

401(k) Retirement Plan Employment Deductible 98

HR Lineup

SEPTEMBER 25, 2023

It encompasses all the activities involved in paying employees, such as calculating wages, deducting taxes and other withholdings, processing payments, and generating necessary reports. These laws can vary significantly from one country to another, making it crucial for businesses to stay informed and up-to-date on local regulations.

Global Payroll 238

Global Payroll Payroll Payroll System Payroll Software 238

Best Money Moves

OCTOBER 1, 2024

Learn about how employers can help with financial wellness benefits. 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%).

Insurance 59

Insurance Deductible Deductions Education 59

Money Talk

OCTOBER 19, 2023

Below are nine of my key take-aways from information that was provided about living well in later life and not running out of money during your lifetime: Medical Advances - Many of the leading causes of death today may no longer be as prevalent in another one or two decades due to medical research advances.

401(k) 213

401(k) Finance Medical Deductible 213

Money Talk

NOVEMBER 9, 2023

Examples include limiting earned income from a job or self-employment to a certain dollar amount and using tax-loss harvesting to offset realized capital gains on investments. Another way that some people proactively plan is to postpone deductible expenses until RMDs begin as a way to offset higher taxable income.

Pension 191

Pension Taxes Deductible Deductions 191

Business Management Daily

JUNE 28, 2024

As many of these young workers may be taking on their first job, employers must remember some important payroll considerations. First-Job Jitters It’s natural for employers and young employees to experience some jitters regarding payroll. A clear understanding of the basics can help alleviate those concerns.

Employment 97

Employment Net Pay Payroll Taxes 97

Flimp Communications

SEPTEMBER 26, 2024

The cost of healthcare and employer-sponsored health plans are on the rise in 2024. As several studies have attested, employees routinely choose sub-optimal health plans due to misunderstandings, cognitive biases, and pure momentum at great cost to themselves and their employers. It’s not easy being an HR professional these days.

Deductible 52

Deductible Deductions Healthcare Medical 52

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

Flimp Communications

OCTOBER 30, 2024

About half of American employers offer HSAs — coupled with high-deductible health plans (HDHPs) — but, according to one study , 69% of employees don’t understand their benefits or uses. Not only are HSA contributions tax deductible, but investment growth and funds used for qualified medical expenses are also protected.

Deductible 52

Deductible Deductions Taxes Flexible Spending Account 52

WEX Inc.

JULY 24, 2024

These communication tactics can be especially useful if you’re updating major health insurance options, like switching to a high-deductible health plan (HDHP) or adding a health savings account (HSA) and want to measure the outcomes of these changes. The information in this blog post is for educational purposes only. goal technique.

Health Savings Account 59

Health Savings Account Taxes Health Insurance Consulting 59

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

Global People Strategist

DECEMBER 12, 2023

Understanding local employment laws is crucial for those considering employment opportunities in this South American nation. Navigating the intricacies of Peru’s employment landscape involves grasping key aspects such as general labor laws, tax regulations, and employee benefits.

Employment 96

Employment Overtime Taxes Paid Leave 96

HR Lineup

DECEMBER 1, 2023

Cloud-based solutions often offer the flexibility of accessing payroll information from anywhere, ensuring that your team can manage payroll processes seamlessly, whether they are in the office or working remotely. This ensures a cohesive flow of information across various departments and minimizes the risk of errors.

Payroll Software 246

Payroll Software Payroll Software Taxes 246

Business Management Daily

SEPTEMBER 22, 2021

Some employers start as early as September. Most employees elect coverage through their employer, but some may be eligible for marketplace coverage as well. Most employers have an open enrollment period of at least 2 to 4 weeks. Eligibility for HSAs is generally limited to people enrolled in High Deductible Health Plan (HDHP).

Employment 90

Employment Deductible Deductions Benefit Providers 90

Qandle

FEBRUARY 12, 2025

This system automates the tedious tasks of calculating salaries, generating payslips, and ensuring accurate tax deductions, saving valuable time for HR professionals. Payroll involves multiple steps, including calculating employee salaries, withholding taxes, processing deductions, and generating payslips.

Payroll 52

Payroll Payroll Manager Payroll System Deductible 52