Employee Benefits

FEBRUARY 22, 2023

Car salary sacrifice arrangements remain a popular employee benefit; in its January 2023 Leasing Outlook , the British Vehicle Rental and Leasing Association (BVRLA) found a 20.5% year-on-year increase in company cars funded through salary sacrifice to quarter three in 2022. What are car salary sacrifice schemes?

Salary 98

Salary Taxes Insurance Government 98

Business Management Daily

AUGUST 31, 2023

Expenses that could previously be deducted on an employee’s tax return may no longer qualify, and relocation benefits that previously could be paid out without counting towards a taxpayer’s income may now result in higher tax liabilities. Can employees deduct their moving expenses? What is a relocation reimbursement?

Taxes 98

Taxes Deductions Deductible Bonuses 98

cipHR

NOVEMBER 15, 2021

As head of payroll bureau services at CIPHR’s sister company PBS , a payroll software and service provider, Jon and his team process payroll and BACS salary payments for 94,000 employees, across 500 organisations every month. This means people can earn £12,500 tax-free, and only start paying tax on income over that amount.

Pension 98

Pension Gross Pay Payroll Deductions 98

Insperity

OCTOBER 10, 2023

Act are: Starting in 2025, long-term, part-time employees – those workers with at least two years’ tenure and who have worked a minimum of 500 hours – must be able to participate in their company’s retirement plan. Starting in 2023, if a retirement plan allows for it, employees can elect for their employer match to receive Roth tax treatment.

401(k) 108

401(k) Retirement Plan Taxes Benefits Package 108

HR Digest

SEPTEMBER 11, 2023

You must deduct and/or contribute a standard percentage of an employee’s wages to fund paid family and medical leave. Because federal FMLA is unpaid, you don’t have to worry about these types of payroll deductions. Paid family leave benefit amount: Approximately 60-70% of the employee’s weekly salary. of employee wages.

Family and Medical Leave Act 86

Family and Medical Leave Act Paid Sick Leave Paid Leave Parental Leave 86

Business Management Daily

JANUARY 5, 2023

Congress has chosen to pay for it by mandating that plans offering certain 401(k) features, like catch-up contributions, be made on an after-tax, Roth basis. Every mention of the word “Roth” will require significant adjustments to your payroll system to accommodate after-tax withholding. For plan years beginning in 2025, SECURE 2.0

401(k) 52

401(k) roth 401(k) Taxes Deductions 52

Higginbotham

NOVEMBER 2, 2023

Developing an Employee Financial Wellness Program Employees typically look for competitive compensation, but a good salary alone isn’t necessarily enough to ease financial difficulties. Offering retirement benefits also makes financial sense because they often come with tax incentives.

401(k) 52

401(k) Disability Insurance Benefits Package Insurance 52