WEX Inc.

SEPTEMBER 19, 2024

When you’ve made a purchase or received a service using a benefits card , retaining documentation is essential in case it’s needed to substantiate your claim. It is not legal or tax advice. For legal or tax advice, you should consult your own legal counsel, tax and investment advisers.

Health 98

Health Flexible Spending Account Health Savings Account Flexible Spending 98

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

Money Talk

FEBRUARY 22, 2024

With income tax season well underway, many people are getting ready to see a tax preparer to get their 2023 income tax return prepared and filed before April 15, 2024. Some may have a long-standing tax pro while others are selecting a tax preparer for the first time. About half of U.S. About half of U.S.

Taxes 127

Taxes Banking Finance IT 127

Money Talk

SEPTEMBER 17, 2022

incorrect gift tax and estate tax exemptions from 2021). I took my survey with me and left the seminar shortly thereafter when the presenter started pitching various “combo packages” for legal documents. The speaker noted that updates to estate planning documents should be shared with trusted family members.

Life Insurance 245

Life Insurance Banking Taxes Finance 245

PeopleKeep

DECEMBER 7, 2022

As an employer or human resources professional, you must know the proper documents, forms, and rules for payroll and taxes. Required payroll documentation includes payroll records and the supporting information your organization uses to determine wages and hours worked. Looking for more compliance tips for your organization?

Payroll 98

Payroll Employment Human Resources Taxes 98

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 91

Payroll Software Software Payroll Overtime 91

Business Management Daily

AUGUST 8, 2022

Worried that your company might not have a particular document on hand if the IRS conducted an audit? They create a document retention policy that clarifies what needs to be saved, where, and for how long. Courts and government agencies frown upon individual employees selectively keeping or tossing important documents.

Family and Medical Leave Act 105

Family and Medical Leave Act Taxes Deductible Deductions 105

Money Talk

APRIL 12, 2023

Common challenges that affect many widows/widowers are aloneness, a lower income, increased taxes/higher tax rate filing as an individual vs. a couple, loss of services that a deceased spouse used to perform, and no longer spending time with couples. placing savings in taxable, tax-free, and tax-deferred accounts).

Banking 246

Banking Taxes Finance Pension 246

HR Lineup

NOVEMBER 14, 2021

Looking for an easy way to create, convert, edit, and sign forms and documents? It is a cloud-based tool that quickly and efficiently helps you create forms and documents in various niches, including legal documents, tax forms, and other necessary templates. FormSwift is precisely what you need. Recruiterbox.

Employment 237

Employment Recruitment Taxes Human Resources 237

HR Lineup

NOVEMBER 24, 2023

The software automates tasks related to contracts, payroll, and tax compliance, ensuring that organizations stay on top of their legal obligations. It offers tools for managing visas, work permits, and other immigration-related documentation. Document Management: Efficient document management is a key feature of HR compliance software.

Software 245

Software Human Resources Healthcare Retirement Plan 245

WEX Inc.

NOVEMBER 14, 2024

Health savings accounts have a triple-tax advantage, meaning distributions for qualified medical expenses and investment returns are tax-free, and contributions are tax-deductible. You won’t need to pay Social Security or Medicare tax on the funds going into the FSA. It is not legal or tax advice.

401(k) 98

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

Money Talk

AUGUST 12, 2021

When people hear the words “estate planning,” their first thought usually turns to legal documents: wills, living wills, powers of attorney, trusts, and the like. These documents are very important and all adults should have at least the first three prepared with the assistance of an experienced estate planning attorney.

Life Insurance 100

Life Insurance Pension Commissions Taxes 100

Take It Personel-ly

JULY 6, 2021

The recruitment process can be pretty grueling; reading through so many documents, enduring a few interviews, and hoping to get a job can be rather taxing. And even though you are likely eager to sign any employment contract that comes your way, there are a few crucial details that you should always check first. You […].

Employment 216

Employment Taxes Recruitment Human Resources 216

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

HR Lineup

JULY 4, 2024

Transit Passes Transit passes are a popular form of commuter benefit where employers provide employees with pre-tax transit passes or reimbursements for public transportation expenses. Tax Savings: Both employers and employees can enjoy tax advantages. Employers can also save on payroll taxes. For Employers 1.

Transportation 246

Transportation Taxes Deductible Deductions 246

Money Talk

MARCH 24, 2022

Depending on household income/assets and lifestyle decisions, income taxes and housing costs may increase or decrease. 401(k)s), tax-deferred accounts (e.g., Sources of Retirement Income - Income sources include Social Security, employer defined-benefit pensions or defined-contribution retirement plans (e.g., Estate planning can help.

401(k) 278

401(k) Finance Entertainment Taxes 278

Kollath CPA

MARCH 9, 2022

You don’t generally have to withhold or pay any taxes on payments to independent contractors, as you do with employees. Document each factor used in coming up with your determination. And there are fewer payments to the IRS, as you don’t have to match payments of taxes such as Social Security tax or pay unemployment tax.

Taxes 98

Taxes Electronics Pension Software 98

HR Lineup

JUNE 9, 2024

Key Features: Payroll and tax compliance Applicant tracking Onboarding Learning management Workforce analytics Benefits: User-friendly interface Strong customer support Efficient payroll processing Drawbacks: Limited advanced HR features Mobile app could be improved 9. It focuses on simplifying HR tasks and improving efficiency.

Software 246

Software Payroll Human Resources Overtime 246

WEX Inc.

DECEMBER 3, 2024

When your employees do need to substantiate a claim, it’s easy for them to upload documentation and check the status of a claim with their mobile app or online account. It is not legal or tax advice. For legal or tax advice, you should consult your own legal counsel, tax and investment advisers.

Flexible Spending Account 98

Flexible Spending Account Flexible Spending Medical Taxes 98

Money Talk

AUGUST 30, 2022

Chapter 3 - Three tricky retirement expenses to project in advance are health care, housing, and taxes and the four Ls of spending in later life are Lifestyle, Longevity, Legacy, and Liquidity. Chapter 10- Tax-efficient distributions, tax diversification, and tax bracket management can prolong the sustainability of retirement savings.

Retirement Plan 246

Retirement Plan Taxes Finance Pension 246

Money Talk

MAY 30, 2024

Benefits of advance directives include: reducing disagreement about health or financial decisions among family members and, for health-related documents, avoiding unnecessary suffering by a patient. paying bills, making deposits, applying for benefits, preparing tax returns, and signing checks).

Hospitality 182

Hospitality Banking Finance Medical 182

Money Talk

JUNE 16, 2023

Document Damage - Take photos, before cleaning up, to document losses. Note that benefits paid will never exceed the maximum coverage provided by a policy for a dwelling, other structures (e.g., a shed), personal property, and additional living expenses. Protect Your Property - Avoid further damage by making temporary repairs (e.g.,

Deductible 240

Deductible Deductions Insurance Banking 240

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

JUNE 22, 2023

Who is going to get what you someday leave behind in life insurance policies and/or tax-deferred retirement accounts? Contingent Beneficiaries - It is wise to name contingent beneficiaries in case beneficiaries pre-decease you or wish to disclaim an asset, typically for tax planning purposes.

401(k) 235

401(k) Life Insurance Retirement Plan Finance 235

HR Lineup

SEPTEMBER 22, 2023

It offers features like contractor onboarding, payroll management, compliance monitoring, tax management, and more. It automates payroll , tax compliance, and contract generation, ensuring that you can focus on your project’s success rather than administrative tasks.

Software 243

Software Management Global Payroll Payroll 243

HR Lineup

APRIL 5, 2022

Conducting employee onboarding involves verifying gathered documents, signing forms, approving eligible candidates for hire, among others. Tax Filing. Tax laws must be complied with regardless of a business’s size and location. With HR automation, you do not need to worry about making mistakes during recruitment. .

Human Resources 246

Human Resources Payroll Manager Payroll Taxes 246

InterWest Insurance Services

OCTOBER 15, 2024

Your auditor will need to see records such as federal and state tax returns, ledgers, checkbooks, contracts and employee or contractor tax documents. Updated information results in more accurate premium assessments. Get your records ready. If you prepare your records in advance, you’ll speed up the audit process.

Insurance 96

Insurance Overtime Benefits Package Taxes 96

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

Money Talk

APRIL 18, 2024

My brother, for example, used hanging folders in a home office desk that were organized alphabetically by the name of product or service providers or by a description of specific documents. It took me two full days to hunt down documents related to my brother’s assets and debts and calculate an estimated net worth.

Banking 166

Banking Finance Taxes Construction 166

Money Talk

SEPTEMBER 22, 2022

criminal justice and incarceration expenses and reduced income tax and FICA tax revenue). Third party monitoring of financial accounts is often recommended, and preparation of estate planning documents is essential. The costs of opioid addiction affect individuals and families, employers (e.g.,

Finance 245

Finance 401(k) Hospitality Taxes 245

WEX Inc.

JANUARY 15, 2025

The audit can either take place at one point during the year as a one-time snapshot of dependent eligibility, or you can choose to have an ongoing verification process where dependent documentation is reviewed on a daily basis throughout the year. This documentation verifies that they are considered an eligible dependent.

Insurance Carriers 52

Insurance Carriers Taxes Electronics Health 52

Money Talk

FEBRUARY 10, 2022

Invest Automatically at Work - Participate in a tax-deferred employer retirement plan (e.g. Set Up Holding Accounts- Plan proactively for periodic household expenses, such a property taxes and water bills, by dividing the annual cost by 12 and setting that amount aside monthly in savings until the bill comes due. Just do it.

401(k) 189

401(k) Finance Taxes Retirement Plan 189

HR Lineup

AUGUST 6, 2024

Payroll and Tax: Integrated payroll and tax filing services. Key Features: Payroll: Easy and accurate payroll processing with automated tax filing. For example, it can manage tax filings, benefits administration, and employee documentation. Time and Attendance: Accurate tracking of employee hours and attendance.

Software 246

Software Management Payroll Recruitment 246

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., Another tax-advantaged way to benefit from charitable gifts is to open a donor advised fund (DAF) with a major brokerage firm.

Flexible Spending Account 187

Flexible Spending Account Taxes Pension Deductible 187

Money Talk

FEBRUARY 29, 2024

A frequently used quote is that “nothing is certain in life except death and taxes.” desk drawers) for documents like insurance policies; recent income tax returns; bank, investment, and credit card statements; and copies of a will, living will, etc. But what exactly does that mean? lawyer, insurance agent, etc.),

IT 196

IT Hospitality Banking Taxes 196

InterWest Insurance Services

MARCH 20, 2025

However, employers who offer ICHRAs may face various administrative challenges: Documentation Employers are required to comply with IRS reporting rules, just as they would if they provide health insurance. For example, an employer could offer group coverage to full-time employees and an ICHRA to part-time employees.

Health Insurance 72

Health Insurance Insurance Taxes Healthcare 72

HR Lineup

JANUARY 24, 2024

Understanding Proof of Investment (POI) Proof of Investment, commonly known as POI, refers to the documentation that validates an individual’s investment activities. Documentation Types: Employers should be familiar with the different types of documentation that qualify as Proof of Investment.

401(k) 130

401(k) Retirement Plan Taxes Education 130