Remove 401(k) Remove Deductions Remove Health Savings Account Remove Take Home Pay
article thumbnail

Having a Baby? Use Your Pre-Tax Funds to Save

Benefit Resource Inc.

Fortunately, one great way to help with out-of-pocket costs is utilizing a Health Savings Account (HSA). Switch to a high-deductible health plan. Since we had contributed pre-tax to our HSA before birth our take home pay was lower. Let’s Start from the Beginning.

Taxes 72
article thumbnail

9 Nontaxable Employee Benefits for Maximizing Your Income and Workplace Satisfaction

Empuls

tax free benefits are those that provide financial advantages for both employees and employers by avoiding certain taxes and deductions. Non taxable employee benefits refer to various perks and incentives provided by employers that are exempt from certain taxes and deductions.

article thumbnail

Understanding the cost of employee benefits & what it means for your company

Genesis HR Solutions

Tax-preferred plans: Health flexible spending accounts, health savings accounts, health reimbursement accounts, transportation accounts, and more. 401(k) and retirement plans. Deductions must be set up in payroll and carrier invoices must be paid each month.