Health and Welfare Payroll Taxes 
McDermott Will & Emery Employee Benefits
MAY 31, 2023
For decades, promoters have marketed programs to employers seeking to leverage the favorable tax treatment accorded employer-provided medical benefits. These programs are variously described as “wellness” or “preventive services” arrangements, and they are usually wrapped in or offered with hospital indemnity policies.
McDermott Will & Emery Employee Benefits
JULY 20, 2023
A recent Internal Revenue Service (IRS) memorandum addresses the tax status of certain fixed-indemnity health plans that promise employers major payroll tax savings. The post IRS Clarifies Status of Fixed-Indemnity Health Plans Claiming Big Tax Savings appeared first on EMPLOYEE BENEFITS BLOG.
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McDermott Will & Emery Employee Benefits
AUGUST 10, 2023
In light of recent Internal Revenue Service (IRS) guidance, employers should carefully examine any supplemental health plan, program or arrangement (which may or may not claim to leverage fixed indemnity insurance) that promises substantial payroll tax savings.
Employee Benefits
APRIL 1, 2024
Employers can also introduce platforms that offer integration with payroll systems, tailored user interfaces, and flexible and customisable benefit options. However, some local legislations encourage the provision of certain benefits through tax incentives, such as flexible welfare benefits in Italy, or wellbeing benefits in Sweden.”
Insperity
MARCH 25, 2021
Being an employer comes with many HR-related costs beyond the cash compensation you pay to your employees, such as: Payroll taxes (FICA, FUTA, Social Security, Medicare) Worker’s compensation insurance coverage Statutory insurance and paid leave programs (e.g., What is your employer overhead? Direct costs. Administrative fees.
Genesis HR Solutions
DECEMBER 11, 2019
Looking into payroll companies in Massachusetts? But is a payroll company really all the help you need? Keep reading to find out whether your ideal solution is purely payroll, or if you might benefit more from a slightly different option (that still includes payroll services): a PEO. East Coast Payroll. ConnectPay.
Genesis HR Solutions
JANUARY 24, 2023
Payroll deductions This item spells out each of the deductions the company withholds, including federal, state, and local taxes and other things, including voluntary deductions for benefits. Employees don’t pay taxes on this money, which means they save an amount equal to the taxes they would have paid on the money you set aside.
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