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. 2022 Retirement Plan Limits Increase.

401(k) 55

401(k) Retirement Plan Health Savings Account Deductions 55

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

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

InterWest Insurance Services

JULY 20, 2022

Indeed, a 2021 study found that 29% of Gen Z respondents are carrying medical debt. Explain how and if they can carry over excess funds at the end of the year to the following year for FSAs and HRAs, and how HSAs can be kept for life — and that they can invest the funds in those accounts much like they would a 401(k) plan.

Education 98

Education 401(k) Deductions Deductible 98

WEX Inc.

APRIL 24, 2023

Pre-tax employee benefits plans, such as health savings accounts (HSAs) and flexible spending accounts (FSAs) , let you save money by putting aside pre-tax dollars to pay for eligible medical, dental, vision and other expenses. In 2021, the average employer contribution to employee HSAs was $869.

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. In addition, 401(k) nondiscrimination testing may be affected. Depending on your payday, this will happen next year, when the 27th payday falls on Dec. Twist: If you don’t push the Jan. Who’s impacted.

Payroll 83

Payroll 401(k) Deductions Deductible 83

Business Management Daily

JANUARY 5, 2021

The new COVID relief package included in the Consolidated Appropriations Act, 2021 (H.R. The COVID relief package extends paid sick and family leave , and your tax credits for providing through March 31, 2021. The leave and the tax credits are extended, not reset, for 2021. The law extends the payback time to the end of 2021.

Family and Medical Leave Act 52

Family and Medical Leave Act Payroll 401(k) Taxes 52