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Five examples are tax-loss harvesting, Roth IRA conversions, qualified charitable contributions (age 70½ +), setting up a donor advised fund, and increased contributions to a tax-deferred retirement savings plan, health savings account or HSA (if eligible), or flexiblespendingaccount or FSA (if available).
In this post, I continue my discussion of tips from webinars, podcasts, and virtual conferences that I heard during the last quarter of 2021. Decumulate Carefully- Consider a webinar speaker’s observation that spending down accumulated savings in retirement is more complex and has higher stakes than saving during working years.
Below are six tax-saving ideas gleaned from recent webinars and research for my book: Look Toward the Future - Absent new tax legislation, the Tax Cuts and Jobs Act is scheduled to sunset after 2025, tax rules will return to what they were in 2017, and tax rates will be higher than they are right now.
PeopleKeep also provides flexiblespendingaccounts (FSAs), health reimbursement arrangements (HRAs), and health savings accounts (HSAs) to help employees save money on healthcare expenses. One of the key features of PeopleKeep is its ease of use.
Schedule workshops or webinars to break down complex topics like: Health savings accounts (HSAs) Flexiblespendingaccounts (FSAs) Retirement planning options Emphasize the total rewards picture Highlight how your benefits program fits into your companys total rewards strategy.
The platform also offers a flexiblespendingaccount (FSA) option, allowing employees to set aside pre-tax dollars for eligible medical and dependent care expenses. The platform also offers a wide range of resources, including tutorials, webinars, and articles, to help companies get the most out of their benefits offerings.
Sign up for our webinar. Educate About Tax-Advantaged HSAs (And Similar Benefits) As you know, health savings accounts (HSAs) are triple tax-advantaged. In previous articles, we have covered several strategies for demystifying HSAs , HDHPs, and similarly confusing tax-advantaged programs like flexiblespendingaccounts (FSAs).
FSA and HSA: By taking advantage of programs like FlexibleSpendingAccounts (FSAs) and Health Savings Accounts (HSAs), employees can allocate a portion of their pre-tax earnings to cover essential health-related expenses. Nutritional Workshops: Host workshops or webinars on healthy eating, cooking, and meal planning.
In our latest webinar, we discussed the most recent legislative changes rolled out by Congress in the American Rescue Plan Act. FlexibleSpendingAccounts are not eligible for subsidy. Many of them affected pre-tax benefits plan and continuation coverage, also referred to as COBRA. What is the subsidy period?
Flexiblespendingaccounts (FSAs) allow your employees to use pre-tax dollars to cover eligible out-of-pocket healthcare expenses, providing a tax-efficient way to manage medical costs and helping you and your employees save money. But how can you effectively communicate and offer FSAs to your employees?
FSA benefit plans: Flexiblespendingaccounts also allow employees to set aside pre-tax dollars to cover qualified healthcare or dependent care expenses. Webinars or meetings can be helpful. It’s a good idea to host some open enrollment information sessions during work hours, either in the office or in webinar format.
Use various communication channels such as emails, webinars, and even mobile apps to reach employees in a way that suits their preferences and schedules. Host webinars, workshops, or Q&A sessions where employees can ask questions and receive immediate answers. Offer Choice and Flexibility Employees value choice and flexibility.
The Role of Employee Benefits Employee benefits, such as Health Savings Accounts (HSAs), FlexibleSpendingAccounts (FSAs), Commuter Plans, and Specialty Accounts emerge as valuable tools in the toolbox of employers seeking to support their workforce during times of inflation.
From flexiblespendingaccounts (FSAs) to health savings accounts (HSAs) and commuter benefits, these options offer significant advantages if managed wisely. Know Your Pre-Tax Benefit Options Flexiblespendingaccounts (FSAs): An FSA allows you to set aside pre-tax dollars for eligible healthcare expenses.
Timeline Considerations for Consumer-Directed Benefit Plans Participants with a runout period that expired on or after March 1, 2020, received an extended period of time to submit claim reimbursements for eligible expenses from their FlexibleSpendingAccounts (FSA). Interested in learning more?
If applicable, provide information on FlexibleSpendingAccounts (FSAs) and Health Savings Accounts (HSAs) and how employees can contribute. Emails, printed materials, small group meetings, office hours, webinars, and utilizing other management leaders all should be considered as good ways to disperse information.
As year-end draws closer, countless employees unknowingly leave money on the tablemoney theyve set aside for healthcare through their FlexibleSpendingAccounts (FSAs). Workshops and webinars : Host Q&A sessions to clarify FSA rules and provide actionable tips.
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