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Flexible Spending Account Contribution Limit Climbs

InterWest Insurance Services

The IRS recently announced that the annual contribution limit for flexible spending accounts will rise to $3,200 in 2024, up $150 from this year. Also, employees will be able to carry over up to $640 next year into 2025 if they have funds left over in their account, if their employer allows it (it’s optional).

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New COVID relief package extends payroll provisions

Business Management Daily

Congress has put to rest the controversy regarding whether expenses associated with loans forgiven under the Paycheck Protection Program are deductible on your corporate return. 31, 2025: The Work Opportunity Tax Credit. Expanded meal deduction. Originally, the IRS said no because it was a double-dip. Tax extenders. Through Dec.

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Basics of Tax-Efficient Investing

Money Talk

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.

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How Employee Perks Can Help Companies in the US

Vantage Circle

In this, employees can elect to have a portion of their earnings automatically deducted from their paychecks and directed into their investment account. They are actively working towards achieving gender parity in global leadership by 2025. Making the most of Flexible Spending Accounts (FSAs) involves a smart approach.

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AMERICAN RESCUE PLAN ACT CONTAINS MANY EMPLOYEE BENEFITS RELATED PROVISIONS

Benefits Notes

Health care flexible spending accounts are not subject to the ARPA provisions. The credit is fully deductible and, in anticipation of the credit, the credit may also be advanced, according to forms and instructions provided by federal agencies, through the end of the most recent payroll period in the quarter.