Money Talk

APRIL 14, 2022

The 2021 income tax season will soon be in the history books. With income tax calculations still fresh in our heads, this is a great time to do some tax planning for 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.

Taxes 189

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

Money Talk

MARCH 22, 2023

With 2022 income tax season well underway and almost three months already passed in 2023, now is an appropriate time to review some evergreen tax planning tools and techniques. A larger standard deduction means that taxpayers can shelter more income from income taxes. an elective surgery) that exceed 7.5%

Taxes 189

Taxes 401(k) Deductible Deductions 189

Money Talk

DECEMBER 29, 2021

Insurance- COBRA premium assistance for health insurance was provided under the American Rescue Plan Act and Medicaid enrollment surpassed 80 million. There were also large premium increases nationwide for homeowners and flood insurance. There was also late notice of tax exemption for up to $10,200 of 2020 unemployment benefits.

Finance 363

Finance Taxes Retirement Plan Insurance 363

Money Talk

DECEMBER 27, 2024

Also, with tax-deferred retirement plans subject to RMDs, savers are in a partnership with the IRS. Diagnostic Tools- Useful documents to understand an individual or couples finances for planning purposes are net worth and cash flow calculations, saving and investment account statements, and income tax returns.

Retirement Plan 166

Retirement Plan Finance Taxes Insurance 166

WEX Inc.

OCTOBER 2, 2024

Exploring HSAs and FSAs HSAs and medical flexible spending accounts (FSAs) let you save money because the funds you contribute to them are pre-tax. Consider the following when evaluating these accounts: Tax benefit: Contributions to HSAs and FSAs are tax-deductible and reimbursements for qualified medical expenses are tax-free.

Employee Benefits 98

Employee Benefits Flexible Spending Account Health Savings Account Life Insurance 98

HR Lineup

SEPTEMBER 28, 2024

Payroll and Compensation Management: Automates payroll processing , salary adjustments, and tax calculations. Benefits Administration: Tracks and manages employee benefits, such as health insurance, retirement plans , and leave policies. Benefits Administration: Manage employee benefits like health insurance and retirement plans.

Human Resources 245

Human Resources Payroll Recruitment Retirement Plan 245

HR Lineup

SEPTEMBER 24, 2024

Benefits Administration: Offering competitive benefits such as health insurance, retirement plans, paid time off, and wellness programs. Key Features: Automated payroll processing: Technology ensures timely and accurate payments by automating payroll tasks such as salary calculations, tax deductions, and overtime.

Retirement Plan 245

Retirement Plan Recruitment Technology Salary 245

WEX Inc.

JULY 10, 2024

These benefits go beyond the core offerings like medical, dental, and vision insurance. They can include a wide range of options such as pet insurance and more specialized benefits like accident and critical illness insurance. It is not legal or tax advice.

Voluntary Benefits 98

Voluntary Benefits Disability Insurance Utilities Taxes 98

Money Talk

MARCH 15, 2023

An annuity is a contract between an investor and a life insurance company. Annuities are sold by insurance agents, stock brokers, and other financial advisors. No Federal Insurance - There is no federal government insurance for annuities as there is for bank products (FDIC) and investment products (SIPC).

401(k) 244

401(k) Life Insurance Insurance Taxes 244

Employee Benefit News

DECEMBER 9, 2024

Justworks surveyed over 2,000 workers about their open enrollment experience, and many of the respondents aren't happy.

Taxes 290

Taxes Health Insurance Insurance Employee Benefits 290

PeopleKeep

OCTOBER 23, 2024

With a QSEHRA, employees can buy their own individual health insurance policies and get tax-free reimbursements for their premiums and other medical costs. While the QSEHRA is designed to replace employer-sponsored group premiums, not all individual insurance premiums are eligible for reimbursement.

Health Insurance 105

Health Insurance Healthcare Insurance Medical 105

Patriot Software

JUNE 18, 2024

Tax withholding is an essential piece of the payroll puzzle. One of the taxes you must withhold from employee wages is the Old-Age, Survivors, and Disability Insurance (OASDI) tax. You must also contribute an employer portion of the OASDI tax. OASDI tax is more commonly referred to as Social Security tax.

Disability Insurance 86

Disability Insurance Taxes Insurance Deductions 86

PeopleKeep

JULY 22, 2024

With a QSEHRA, small employers can reimburse employees tax-free for qualifying medical expenses, including individual insurance premiums. Luckily, health reimbursement arrangements (HRAs)— specifically the qualified small employer HRA (QSEHRA)—can help small employers overcome this challenge.

Benefits Package 105

Benefits Package Medical Taxes Insurance 105

Money Talk

JUNE 28, 2023

Below are ten mid-year financial tweaks and tasks: Tax-Deferred Savings Tweak - Perhaps you will get a raise on July 1. Consider completing the paperwork needed to save more money from July to December in your employer’s tax-deferred retirement savings plan. The 2023 maximum pre-tax contribution is $3,050.

Flexible Spending Account 242

Flexible Spending Account Banking Health Savings Account Taxes 242

Vantage Circle

AUGUST 1, 2024

However, navigating the complex tax laws and regulations surrounding these awards can be a daunting task. This guide aims to provide a comprehensive overview of the tax implications of service award practices in the United States and Canada, while also highlighting innovative solutions that address these challenges.

Deductible 95

Deductible Deductions Taxes Bonuses 95

WEX Inc.

AUGUST 29, 2024

Most people using fertility services pay thousands of dollars out of pocket without insurance. Fertility treatments will qualify for HSA and medical FSA funds to the extent that procedures are performed on the participant, spouse, or another individual whose expenses are eligible for tax-free reimbursement.

Flexible Spending Account 98

Flexible Spending Account Health Savings Account Flexible Spending Medical 98

WEX Inc.

OCTOBER 30, 2024

Health savings accounts (HSAs) HSA participants save money by contributing funds to their HSA pre-tax. Ensure these resources highlight the triple-tax savings, long-term investment potential, and portability between jobs that HSAs offer. Pet benefits Pet insurance has gained significant interest among employees.

Education 95

Education Health Savings Account Taxes Consulting 95

HR Digest

MARCH 12, 2025

This article unpacks the fringe benefits definition, explores their types and examples, and offers a clear overviewincluding tax implications and practical guidance for employers navigating the IRS fringe benefits guide. The Tax Angle: Taxable Fringe Benefits and IRS Guidance Not all employee perks are tax-free.

401(k) 72

401(k) Health Insurance Taxes Retirement Plan 72

WEX Inc.

OCTOBER 29, 2024

Here are some prime examples: Supplemental life insurance : This benefit allows you to bolster your life insurance coverage, ensuring your loved ones are well taken care of in case of the unexpected. Pet care peace of mind : Pet insurance means you never have to choose between your pet’s health and your wallet.

Voluntary Benefits 93

Voluntary Benefits Life Insurance Health Insurance 93

Money Talk

JANUARY 4, 2023

Taxes - The average income tax refund in 2022 was $3,039, but some families with advanced child tax credits faced tax payments. Some states held sales tax holidays in response to high inflation. Homeowners insurance premiums increased by 12.1% on average and renters insurance premiums averaged $18 per month.

Finance 244

Finance Banking Taxes Food 244

HR Lineup

JANUARY 29, 2024

A pay stub not only serves as a record of an employee’s earnings but also provides crucial information about deductions, taxes, and other financial details. Deductions: Federal and state taxes Social Security and Medicare contributions Health insurance premiums Retirement contributions 4. Deductions and Taxes 1.

Net Pay 246

Net Pay Deductible Deductions Payroll Software 246

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.

Taxes 98

Taxes Insurance Employment Payroll 98

InterWest Insurance Services

APRIL 24, 2025

For years,high-deductible health plans have been the most common type of health insurance that employers offer. Those committed to using HSAs: For individuals actively contributing to and spending from HSAs, HDHPs can offer both immediate tax benefits and long-term savings growth. enrollment.

Out of Pocket Cost 83

Out of Pocket Cost Employment Deductible Deductions 83

WEX Inc.

NOVEMBER 21, 2024

From pet insurance to identity theft protection, these benefits allow employees to pick and choose coverage that supports their specific needs, enhancing overall employee satisfaction. It is not legal, tax or investment advice. For legal, tax or investment advice, you should consult your own legal counsel, tax and investment advisers.

Employee Benefits 104

Employee Benefits 401(k) Employment Health Savings Account 104

HR Lineup

OCTOBER 13, 2024

Willis Towers Watson Willis Towers Watson (WTW) is a global advisory and broking company that specializes in risk management, insurance brokerage, and HR consulting. Ensure they have expertise in managing international labor laws, tax regulations, and cross-border recruitment.

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Consulting Payroll Recruitment Payroll Service 246

PeopleKeep

DECEMBER 11, 2024

Health insurance subsidies make coverage more affordable for Americans who dont have access to employer-sponsored coverage. million people 1 enrolled in Health Insurance Marketplace plans during Open Enrollment. million of them received health insurance subsidies, also known as premium tax credits. In 2023, 21.4

Health Insurance 52

Health Insurance Insurance Taxes Employment 52

Money Talk

OCTOBER 11, 2023

Tax Write-Off for Self-Employment Tax - On line 15 of Schedule 2 (for a 1040 form), self-employed workers can write off the deductible portion of their self-employment tax (calculated on Schedule SE), which will lower adjusted gross income (AGI), a trigger for many other taxes.

Employment 215

Employment Deductible Deductions Taxes 215

PeopleKeep

OCTOBER 4, 2024

Group health insurance remains a popular employer-sponsored benefit in the United States. With this type of HRA, employers can reimburse employees tax-free for their individual health insurance premiums and other qualified out-of-pocket costs. But traditional group health plans are too costly for many employers.

Out of Pocket Cost 105

Out of Pocket Cost Health Insurance Insurance Medical 105

Money Talk

JANUARY 13, 2022

Think Tax Efficiency - Plan ahead to pay the least amount of taxes legally due on retirement savings. Tax efficiency can have a significant impact on portfolio longevity. The aim is to pay taxes at the lowest possible tax rate and avoid being pushed into higher tax brackets with required minimum distributions (RMDs).

Taxes 242

Taxes Utilities Finance Banking 242

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. Most neobanks partner with chartered banks, which provides access to FDIC insurance.

Banking 246

Banking Taxes Finance Pension 246

PeopleKeep

JUNE 12, 2024

Traditional group health insurance is a type of health insurance plan employers offer their employees and their families at a discounted premium rate. Because of its familiarity and tax benefits, group health insurance is a sought-after employee benefit. There are two sizes of group health insurance: small and large.

Health Insurance 105

Health Insurance Insurance Taxes Employee Benefits 105

Employee Benefits

NOVEMBER 17, 2022

Autumn budget 2022: The government has decided to maintain the current freeze on employers’ national insurance (NI) contribution thresholds for a further two years. Paul Farrer, founder and chairman of recruitment agency Aspire, said: “Cancelling the increase to employers’ national insurance was the right decision.

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Government Insurance Taxes Recruitment 105

Money Talk

JANUARY 18, 2023

Not surprisingly, much of the news was negative; e.g., soaring prices for food, gas, utilities, cars, insurance, and more. Marginal Tax Brackets - Income ranges in the seven marginal tax brackets ranging from 10% to 37% are inflation-based. When bracket incomes rise, people may be taxed at lower tax rates.

401(k) 246

401(k) Banking Deductible Deductions 246

McDermott Will & Emery Employee Benefits

MAY 23, 2024

The New York State fiscal year 2024 – 2025 budget institutes a new tax on health plans, including insurers and managed care organizations. This tax has been garnering attention for its promise to yield $4 billion for New York State.

Taxes 98

Taxes Insurance Employee Benefits Management 98

Money Talk

JUNE 16, 2023

If you have material you would like to remove immediately, because it could be a health hazard, ask your insurance agent for instruction. friend or family member’s house or cell phone) where you can be reached by an adjuster or insurance agent if your home is uninhabitable or you are evacuated to another location.

Deductible 240

Deductible Deductions Insurance Banking 240

WEX Inc.

NOVEMBER 14, 2024

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

401(k) 98

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

InterWest Insurance Services

AUGUST 22, 2024

Voluntary group life insurance is offered to employees as an optional benefit, and often employers will pay the small premium as an employee retention tool and to provide workers some peace of mind for their families. Internal Revenue Code Section 79 governs the taxation of this employer-provided life insurance.

Life Insurance 98

Life Insurance Insurance Medical Deductible 98