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.

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401(k) Health Insurance Taxes Retirement Plan 72

HR Lineup

NOVEMBER 30, 2021

These services include HR consulting, payroll processing and tax filing, employees’ compensation insurance, safety, and risk management services, hiring across various jurisdictions, retirement vehicles, and more. Life insurance. Disability insurance. Accident insurance, and more. Educational assistance.

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Professional Employer Organization Human Resources Disability Insurance Insurance 245

Winston Benefits

FEBRUARY 25, 2016

Life insurance is like the tax code. We all know it’s there (and know we should have a basic knowledge of it) yet most of us will never fully master it.

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Life Insurance Insurance Taxes IT 45

HR Lineup

DECEMBER 28, 2022

This includes processing payroll, providing employee self-service portals, and handling tax compliance and reporting. With Resourcing Edge, businesses can also take advantage of employee benefits such as healthcare, retirement plans, and life insurance, helping to attract and retain top talent.

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Retirement Plan Human Resources Payroll Service Life Insurance 130

Kollath CPA

JULY 5, 2022

IRS Form 941 is a tax form that businesses file quarterly. It is how businesses report income taxes. As well as payroll taxes, Social Security, and Medicare taxes that the business withheld from employee paychecks over the previous tax year. Learn All About Quarterly Tax Returns below.

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Taxes Electronics Payroll Life Insurance 52

WEX Inc.

AUGUST 23, 2023

Examples of voluntary benefits are: Supplemental life insurance Critical illness Pet insurance Voluntary benefits are additional perks that an employer can offer at a discounted group rate, with the employee either fully or partially paying for the benefits through a payroll deduction. It is not legal or tax advice.

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Voluntary Benefits Disability Insurance Life Insurance Insurance 98

InterWest Insurance Services

MARCH 22, 2022

Employers fund these flexible benefit plans with funds that are deducted from their employees’ salaries on a pre-tax basis. Since the salary reductions are not received by the employee, they are not considered wages for income tax purposes. Set-up and tax implications. Flexible spending account.

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Flexible Spending Account 401(k) Flexible Spending Deductions 96

WEX Inc.

OCTOBER 5, 2023

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. They can genuinely improve your quality of life. It is not legal or tax advice.

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Money Talk

DECEMBER 2, 2021

Like term life insurance, it is a form of insurance for “big ticket" purchases. An extended warranty fee may seem “cheap” compared to the cost of a big-ticket item with sales tax, but it is not a purchase requirement. An extended warranty (a.k.a.,

IT 135

IT Life Insurance Electronics Manufacturing 135

Employee Benefits

JULY 11, 2023

The remaining amount is covered by employees from their post-tax salary. Choosing the right workplace pension provider can also offer a tax benefit via salary sacrifice – reducing the company’s National Insurance contributions and enabling your employees to retain more of their earnings.

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Business Management Daily

MARCH 9, 2020

Our expert pay and tax attorney Alice Gilman addresses readers’ questions on everything from the new w-4 to taxable prizes. In the short-term, since the employee hasn’t presented you with a valid form, you must withhold federal income taxes as if she is single and claimed no other adjustments on her form (i.e.,

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Payroll Service Taxes Payroll Life Insurance 52

Insperity

JANUARY 27, 2022

The IRS’ Publication 15-B (2021) Employer’s Tax Guide to Fringe Benefits defines a fringe benefit as “a form of pay for the performance of services. Unless specifically excluded by the tax code, all fringe benefits are taxable as income. What are fringe benefits? In common parlance, fringe benefits (a.k.a. for partners in the business.

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Employment Taxes Health Savings Account Benefits Package 102

Hppy

NOVEMBER 26, 2024

401(k) for private companies or 403(b) for non-profit organizations allow employees to allocate a portion of their pre-tax earnings to retirement savings. Life Insurance Some employers offer life insurance as an extra benefit to their workforce.

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Benefits Package 401(k) PTO Health Insurance 36

InterWest Insurance Services

APRIL 11, 2024

Chamber of Commerce, found that firms with 100 or more workers to whom they offer group health benefits gained from increased productivity, reduced direct medical costs (for self-insured firms), tax benefits and improved retention and recruitment.

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401(k) Health Insurance Insurance Taxes 93

Insperity

FEBRUARY 11, 2021

Not only do you have to figure out the proper way to pay your people, you have to withhold the appropriate taxes, deposit them and report them to the government. Most payroll services use automation to calculate wages, taxes and other withholdings properly and to generate and file tax returns. Locate or apply for your tax ID.

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Payroll Overtime Payroll Service Deductions 105

Professionals Alternative

SEPTEMBER 14, 2022

We listed a few keywords a loan officer should have a clear knowledge on, when going through the job description with job applicants: Property taxes: Property taxes are levied on the value of your real estate, which includes your house, commercial property, and vacant land. Property taxes are not collected by the federal government.

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Salary Taxes Retirement Plan Insurance 98

Employee Benefits

MAY 29, 2023

Benefits such as life insurance or disability insurance can provide financial support to employees and their families in the event of unforeseen circumstances. One of the most significant advantages of this type of employee benefit is that they are often tax-free.

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Salary Employee Benefits Disability Insurance Pension 98

HR Digest

SEPTEMBER 14, 2020

To qualify, the startup must have fewer than 25 full-time equivalent employees, pay average annual wages below $50,000 and contribute 50% or more toward employees’ self-only health insurance premiums. If eligible, the startup receives a tax credit of up to 50% to offset the cost of the insurance.

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Health Insurance Insurance Deductions Deductible 98

HR Digest

MAY 21, 2023

Payroll taxes 2. Health insurance Those benefits provide a baseline of employee expectations. Health insurance 2. Dental or vision insurance 4. Considering health care and life insurance 5. Retiree health insurance 6. The mandatory benefits form the foundation of all employee benefit packages.

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Benefits Package 401(k) Employee Benefits Disability Insurance 105

Health Consultants Group

OCTOBER 1, 2021

When you comply with their guidelines, the IRS doesn’t require you to withhold FICA, FUTA, Medicare, or income taxes from pre-tax contributions. Group-term life insurance . A provision of The Taxpayer Certainty and Disaster Tax Relief Act of 2020 extended use and rollover options to 2022. . Adoption Benefits.

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Employee Benefits Family and Medical Leave Act Flexible Spending Account Health Savings Account 86

cipHR

NOVEMBER 15, 2021

It’s worth remembering that it’s an employee’s responsibility to check they’re on the right tax code, as it impacts how much tax they pay – whether it’s too much tax or too little. For the 2021/22 tax year (and through to 2025/26), the tax code for most people under 65 who only have one job or pension is 1257L.

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Money Talk

AUGUST 12, 2021

. ¨ Beneficiary Designations List - It is wise to regularly review the beneficiaries and personal representatives listed in your financial and legal documents such as tax-deferred retirement savings plans, life insurance policies, and wills. The 2021 gift tax exclusion is $15,000 per recipient.

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InterWest Insurance Services

FEBRUARY 20, 2024

HSAs are tax-advantaged accounts that allow enrollees to save up to pay qualified medical expenses. They decide how much money they want to transfer to their HSA each pay period — funds that are not subject to taxes. Then their insurance would cover everything at 100%.

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Deductions Deductible Out of Pocket Cost Health Savings Account 98

CorpStrat

AUGUST 14, 2023

Imagine the potential of providing your key team members with guaranteed acceptance Life Insurance, all without the hassle of underwriting or setting up a private company foundation. We keep you updated with cutting-edge compliance solutions, including ERISA, COBRA, and various pre-tax programs, ensuring your peace of mind.

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Life Insurance Insurance Healthcare Payroll 84

HR Bartender

JULY 19, 2016

The information we’re covering is for general informational purposes only and does not constitute legal advice, tax advice, accounting services, or professional consulting of any kind. Exploring the Overtime Policy Piece. The benefit received by the employee is based upon hours worked or pay history, or both. You get the point.

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Hppy

MAY 29, 2018

Employers have the responsibility to accurately calculate payroll deductions and pay employee benefits taxes. These include Social security, Federal tax and state and local tax. As an employer, you are responsible to withhold and pay certain taxes. Your responsibilities include taxes, social security, and Medicare.

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Deductions Deductible Taxes Payroll 37

Higginbotham

MAY 31, 2024

A statutory employee is a worker who would be considered an independent contractor under common law rules but must be treated as an employee for certain tax purposes. Businesses are responsible for paying employment taxes and collecting payroll taxes for their employees. Some life insurance sales agents.

Life Insurance 52

Life Insurance Taxes Overtime Insurance 52

Insperity

APRIL 16, 2015

This allows the PEO to handle functions such as payroll, benefits, tax remittance and related government filings. Management of certain employee-related claims and provision of Employee Practice Liability Insurance (EPLI). I-9 requirements. EEO reporting and claim resolution.

Payroll 101

Payroll Flexible Spending Account Disability Insurance Insurance 101

InterWest Insurance Services

JANUARY 18, 2024

HSAs are tax-advantaged accounts that allow enrollees to save up to pay qualified medical expenses. They decide how much money they want to transfer to their HSA each pay period — funds that are not subject to taxes. Then their insurance would cover everything at 100%.

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Out of Pocket Cost Deductions Deductible Voluntary Benefits 83

Business Management Daily

SEPTEMBER 22, 2021

HSA benefit plans: A health savings account lets employees set aside money on a pre-tax basis to pay for qualified medical expenses. FSA benefit plans: Flexible spending accounts also allow employees to set aside pre-tax dollars to cover qualified healthcare or dependent care expenses. The IRS sets annual HSA contribution limits.

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Employment Benefit Providers Deductions Deductible 90

WEX Inc.

SEPTEMBER 12, 2023

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.

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Employee Benefits Flexible Spending Account Health Savings Account Life Insurance 52

Benefit Resource Inc.

NOVEMBER 29, 2023

Take out a life insurance policy for added peace of mind. There are any number of employee benefits you can take advantage of which either contribute to your financial security or provide you more time to enjoy the little things in life. We are all faced with choices every day which can lead you to save time or money.

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401(k) Medical Retirement Plan Health Savings Account 98

Employer Connection

JULY 16, 2024

Fees are monthly and not prorated, and are subject to applicable taxes. and Trustmark Life Insurance Company. Additional terms and conditions apply. Program availability may vary. All trademarks are the property of their respective owners, which are not affiliates of Star Marketing and Administration, Inc.

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Life Insurance Taxes Insurance 52

Business Management Daily

DECEMBER 1, 2019

Although most companies choose this option, it may be a costly decision, since employees will receive an extra paycheck, along with extra taxes withheld and extra benefits provided. No federal or state agency requires you to adjust employees’ pay for the extra pay period. Figure pay based on 52.143 weekly pay periods or 26.07

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Payroll 401(k) Deductions Deductible 83

Employee Benefits

OCTOBER 12, 2023

Pitchup, an online booking site for UK and Europe outdoor holidays, has introduced a tax-free bikes-for-work scheme for its employees. Bikes-for-work schemes are tax-exempt arrangements, usually offered via a salary sacrifice scheme that will deducts payments from an employee’s gross pay.

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Gross Pay Retail Life Insurance Pension 52

Vantage Circle

DECEMBER 31, 2019

Most of the fringe benefits may come under the domain of taxation based on the tax rules applied in your country of operation. But, there’s also a list of few tax-exempted fringe benefits that you can consider for curating a lucrative employee benefits plan. Employee Health Insurance Benefits. Sponsored Life Insurance Coverage.

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Life Insurance Employee Stock Option Retirement Plan Taxes 52

PeopleStrategy

JULY 8, 2019

Ancillary benefits : these types of benefits are in addition to standard health coverage, and can include dental, vision care, life insurance and short- or long-term disability coverage. As long as the funds are used to pay for medical expenses, they are not taxed, and employees can keep the accounts when they leave the organization.

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Health Savings Account Deductions Deductible Healthcare 82