Money Talk

MAY 18, 2022

Now that 2021 income tax season has been over for a month and the dust has settled, it is time to start some serious tax planning for 2022. Improve Your Tax Records - If disorganized records were a problem for 2021 taxes due in 2022, set up a better system. 401(k), 403(b), and traditional IRA).

Taxes 262

Taxes 401(k) Deductions Deductible 262

Griffin Benefits

NOVEMBER 11, 2021

Together, these combined announcements by the IRS detail 2022 adjusted limits to the amounts employees can tuck away pretax into Flexible Spending Accounts (FSAs), Health Savings Accounts (HSAs), transportation benefits, and retirement plans such as 401(k)s. HSA & HDHP Limits Increase for 2022.

401(k) 55

401(k) Retirement Plan Health Savings Account Deductions 55

InterWest Insurance Services

JULY 20, 2022

Keep in mind that the ritual of choosing a benefits package is a brand-new experience for people who are new to the workforce, and you should prepare to educate new employees on how to effectively choose and use their new coverages, as well as all the details like premiums, deductibles and out-of-pocket expenses. Financial wellness.

Education 93

Education 401(k) Deductions Deductible 93

Benefits Notes

OCTOBER 28, 2020

On October 26, 2020, the Internal Revenue Service (IRS) released Notice 2020-79 , which sets forth the 2021 cost-of-living adjustments affecting dollar limits on benefits and contributions for qualified retirement plans. The following chart summarizes the 2021 limits for benefit plans. Elective Deferral Limit 401(k), 403(b), 457(b).

401(k) 40

401(k) Health Savings Account Retirement Plan Deductions 40

WEX Inc.

APRIL 24, 2023

Nearly two-thirds of large employers provide their employees with the choice of a high-deductible health plan (HDHP) and a traditional health plan, such as a preferred provider organization (PPO), during open enrollment. In 2021, the average employer contribution to employee HSAs was $869. Does your employer offer options?

401(k) 52

401(k) Health Savings Account Deductions Deductible 52

Business Management Daily

DECEMBER 1, 2019

1, 2021, is a holiday. 1 payday back into 2020, you’d still have 27 biweekly pay periods, this time in 2021. Hourly-paid nonexempts are impacted only to the extent of withholding and deductions. Employees’ benefits deductions and allowances (e.g., In addition, 401(k) nondiscrimination testing may be affected.

Payroll 83

Payroll 401(k) Deductions Deductible 83

McNees

JANUARY 19, 2021

The Consolidated Appropriations Act, 2021 (“Act”), signed by President Trump on December 27, 2020, contains several provisions affecting employee benefits. Here is what you should know: Temporary Special Rules for Health and Dependent Care Flexible Spending Arrangements. The distribution must be taken prior to June 25, 2021.

Employee Benefits 40

Employee Benefits Flexible Spending Health Insurance Pension 40