Genesis HR Solutions

SEPTEMBER 22, 2020

Using untaxed dollars in an HSA to pay for deductibles, copayments, coinsurance, and some other expenses can lower overall health care costs. An HSA can be used only if employees have a qualified High Deductible Health Plan (HDHP). There is risk involved in sponsoring a 401(k) Plan— we discuss this in detail in this article.

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Business Management Daily

JANUARY 5, 2023

Congress has chosen to pay for it by mandating that plans offering certain 401(k) features, like catch-up contributions, be made on an after-tax, Roth basis. Every mention of the word “Roth” will require significant adjustments to your payroll system to accommodate after-tax withholding. Roth 401(k) provisions.

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Business Management Daily

NOVEMBER 12, 2019

Which means now is the perfect time to think about the impending payroll year-end season. Payroll ’s annual year-end trek crosses many corporate boundaries. Here are some key year-end payroll tasks: Balance and reconcile amounts in calendar quarters to each other and to W-2s, payroll reports, and W-3s.

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Business Management Daily

MARCH 21, 2022

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).

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Empuls

JULY 11, 2023

tax free benefits are those that provide financial advantages for both employees and employers by avoiding certain taxes and deductions. Non taxable employee benefits refer to various perks and incentives provided by employers that are exempt from certain taxes and deductions. However, the benefit comes when the stock is sold.

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