Employee Benefits

JUNE 6, 2023

The government has launched a consultation on non-discretionary tax-advantaged employee share schemes , including sharesave schemes and share incentive plans (Sips) as part of its aim to improve and increase their usage. The consultation will be open for responses until 25 August 2023.

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Consulting Government Taxes Recruitment 52

Employee Benefits

JANUARY 24, 2024

Crypto currency is subject to income tax when an employee receives it but could also incur a capital gains tax charge if they hold it for more than 30 days. And, while most people are happy to watch the roller coaster ride from the sidelines, employers are beginning to consider crypto as part of their pay strategies.

Global Payroll 105

Global Payroll Employment Taxes Pension 105

Kollath CPA

JANUARY 13, 2022

What Exactly Is a “Tax Year”? A tax year is an annual accounting period for keeping records and reporting income and expenses. Types of Tax Year. A 52-53-week tax year is a fiscal tax year that varies from 52 to 53 weeks but doesn’t have to end on the last day of the month. Calendar Year.

Taxes 98

Taxes Consulting Employment IT 98

PeopleKeep

JUNE 8, 2022

With a tight labor market caused by a record number of resignations and job openings, employers need to go above and beyond to attract and retain top talent. Offering competitive employee benefits packages is a great way to attract and retain your employees, with many employers looking to employee stipends and fringe benefits.

Taxes 105

Taxes Benefits Package Consulting Education 105

Employee Benefits

NOVEMBER 22, 2023

The government is to consult on expanding the Pension Protection Fund’s (PPF) role to act as a consolidator for defined benefit (DB) pension schemes that are deemed “unattractive to commercial providers” and are not currently served by the market. Any public consolidator must be voluntary and separate.”

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Consulting Government Pension Finance 59

HR Digest

JANUARY 31, 2019

For these offices, seeking the help of a small business consultant makes no sense. But no matter how innovative they may be, some benefits still elude them for neglecting the services of a business consultant. Here are some notable benefits of hiring a small business consultant. Time and money is saved.

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Consulting Taxes Utilities Recruitment 92

BerniePortal

MARCH 5, 2020

*This blog is adapted from the HR Party of One episode, Tips for Employer Taxes, which you can view below. Tax season is among us - so today, we’re covering what HR Parties of One need to know. Paying employer contributions for FICA taxes. Paying other employer business taxes. percent Medicare tax.

Taxes 52

Taxes Employment Deductions Deductible 52

Employee Benefits

FEBRUARY 1, 2023

The Department of Work and Pensions (DWP) has launched a public consultation on a policy framework for broadening collective defined contribution (CDC) provision in pension schemes. The consultation began this week and will close on Monday 27 March.

Pension 64

Pension Consulting Government Employee Benefits 64

Employee Benefits

MAY 16, 2023

Employers can help by offering flexible work arrangements, discounted leisure and dining vouchers, and signposting staff to government support. Employers that can be seen to help will benefit from more productive and motivated staff. Flexible-working arrangements are an obvious place to start.

Employment 111

Employment Government Taxes Entertainment 111

Employee Benefits

MARCH 4, 2024

Employers will need to review policies for employees who previously opted out of the pension scheme because they may have been close to the lifetime allowance. Two new limits will be introduced in April to control tax relief on pension lump sums. Some employers offered a cash benefit instead of a pension contribution.

Pension 59

Pension Pension Benefit Employment Taxes 59

Benefit Resource Inc.

MARCH 31, 2023

As an employee with a Health Savings Account (HSA), knowing what you need to report during tax season is important. Even though HSAs can be complex, tax reporting shouldn’t be a headache. With this information, you’ll be better equipped to tackle your HSA taxes. What are the tax benefits of an HSA?

Health Savings Account 52

Health Savings Account Taxes Healthcare Medical 52

Fringe Benefit Analysts

MAY 8, 2022

As many employers and businesses are aware, employee benefits packages are very important considerations for candidates when they are being scouted by recruiters. They will also navigate employers and employees through the layered and complicated task of implementing such plans to reduce complications or errors.

Consulting 52

Consulting Employee Benefits Benefits Package Health Insurance 52

Business Management Daily

AUGUST 2, 2022

The DOL stated that the proposed rule is in response to the frequent misclassification of employees, which they called “one of the most serious problems facing affected employees, employers, and the U.S. These frequent changes make it difficult for employers to keep up. Who can be classified as an independent contractor?

Employment 98

Employment Taxes PTO Overtime 98

WEX Inc.

MARCH 20, 2023

If you’re an employer, is your in-house benefits administration team struggling to juggle the multitude of complexities behind running a successful benefits administration program? Luckily for you, we’re sharing our insights on the top four questions employers ask when considering outsourcing benefits administration.

Employment 98

Employment Flexible Spending Account Flexible Spending Education 98

Employee Benefits

OCTOBER 6, 2023

The majority (85%) of organisations plan to enhance their benefits packages for employees, according to research by HR and employee benefits consulting services firm Gallagher. Just over four-fifths (84%) employers have implemented hybrid-working policies, while 43% offer compressed hours and 15% have a four-day working week.

Benefits Package 59

Benefits Package Employment Voluntary Benefits Consulting 59

Employee Benefits

JANUARY 16, 2023

Record high inflation in the UK is resulting in some employers increasing pay levels in an attempt to keep up. Alongside one-off payments and pay rises, employers may want to consider investing in a long-term strategy to ensure the financial wellbeing of their employees. Pay strategy changes.

Employment 105

Employment Salary Consulting Pension 105

Business Management Daily

JULY 28, 2022

To be mindful of the personal aspect of the payroll relationship between employer and employee and to ensure that harmony is maintained through constant concern for the Payroll Professional’s fellow employees. To maintain the absolute confidentiality of the payroll within the procedures of the employer. No, according to the IRS.

Taxes 59

Taxes Payroll IT Payroll Manager 59

Benefit Resource Inc.

MAY 2, 2023

As a result, many employers are in hyper-vigilance mode, anticipating the next recession and bracing themselves for a potentially difficult ride. In this climate, employers are considering a range of strategies to mitigate their financial risks in anticipation of a possible recession.

Employment 52

Employment Flexible Spending Account Benefits Package Healthcare 52

Employee Benefits

APRIL 24, 2024

Stephen Budge, partner, DC investment consulting at LCP, says: “An improvement in return of 1% per annum over the course of a member’s working life is equivalent to an additional 2% contribution over the same period. The post What should employers look for in a default investment strategy? appeared first on Employee Benefits.

Pension 59

Pension Employment Government Banking 59

Griffin Benefits

JUNE 27, 2022

Shown below is a list of key issues employers should consider in response to this decision. Tax treatment of abortion procedures: Under current federal tax law, medical services must be legal to be eligible for tax-free reimbursement. Abortion would most likely be legal where the life of the mother is in danger.

Employment 72

Employment Medical Taxes Health Savings Account 72

Employee Benefits

AUGUST 22, 2023

UK Workplace Pension Regulations: What Every Employer Should Know In the dynamic landscape of finance, grasping the nuances of workplace pension regulations might be daunting. Therefore, it’s vital to familiarise yourself with the core pension obligations for both employees and employers. Here’s the breakdown.

Pension 52

Pension Employment Taxes Government 52

HR Digest

AUGUST 28, 2023

What happens to solo 401k when you’re no longer self-employer? With the ability to make both employee and employer contributions, the Solo 401k allows you to save and invest more compared to traditional retirement plans. This mini-guide explores whether a solo 401k is a good idea for individuals like you. But how does a solo 401k work?

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401(k) Retirement Plan Taxes Consulting 98

Employee Benefits

MARCH 1, 2023

For one, there has been an increase in the number of employers looking for support with office closures, often as the result of fewer employees being in the office on a day-to-day basis, and the costs of running the office outweighing the benefit of keeping it open. Any contractual changes would then need to be documented.

Employment 52

Employment Taxes Consulting Employee Benefits 52

Business Management Daily

FEBRUARY 14, 2020

The IRS reports that the tax filing season is off to a sluggish start, with tax refunds averaging about the same as last year—$1,869. That may disappoint employees who expect larger tax refunds. If employees don’t want to owe taxes next year or want heftier tax refunds next year, they have to take steps this year.

Taxes 52

Taxes Deductions Deductible Consulting 52

Employee Benefits

APRIL 1, 2024

Employers should ensure that their benefits technology and chosen provider are able to support varying needs in multiple countries. With more employers looking to streamline their benefits offering to employees across the globe, how can technology help to offer a unified global benefits proposition?

Technology 104

Technology Health and Welfare Voluntary Benefits Payroll System 104

HR Digest

APRIL 23, 2022

If you have started a new job recently, you may wonder why an employer is holding the first paycheck. Why do employers hold the first paycheck? Many employers hold the first paycheck, and this is a common situation in many companies. You should know that an employer does not have a legal right to hold your paycheck.

Employment 52

Employment Taxes Life Insurance Insurance 52

WEX Inc.

JULY 9, 2023

A dependent care flexible spending account lets participants set aside pre-tax dollars to help pay for dependent care. Contributing to this benefit reduces taxable income and spreads the benefits of pre-tax dollars throughout the year, helping you save 30 percent or more on your dependent care costs. It is not legal or tax advice.

Flexible Spending Account 98

Flexible Spending Account Flexible Spending Taxes Consulting 98

Employer Connection

DECEMBER 15, 2021

An electronic version of Form 1095-B will be available in the Document Center on our website beginning January 14, 2022, to assist employers with tax filing requirements for 2021. Employers who have opted in to the Document Center will receive a notification when the form is available. at any point during the 2021 calendar year.

Electronics 40

Electronics Taxes Consulting Employment 40

WEX Inc.

MAY 4, 2023

The IRS emphasized these requirements and potential penalties for employers not meeting the requirements when releasing an Office of the Chief Counsel memorandum last week detailing medical expense claim substantiation for medical FSAs and dependent care FSAs. FSAs are a great way for employers and employees to save.

Flexible Spending Account 98

Flexible Spending Account Flexible Spending Taxes Medical 98

Snell & Wilmer Benefits

JANUARY 26, 2024

Among its efforts to police the ERC program, the IRS announced a new initiative that permits taxpayers to return ERCs to which the employer is not entitled and avoid audit and penalty. Employers in receipt of ERCs may wish to consult with tax and benefits counsel to evaluate participation in the ERC-VDP.

Employee Retention 52

Employee Retention Taxes Consulting Employment 52

WEX Inc.

AUGUST 23, 2023

And they serve as an excellent cost-effective recruitment and retention tool for employers as they look for ways to improve their benefits offerings. Health Voluntary benefits help employers fill any additional health needs that might not be covered by typical health insurance. It is not legal or tax advice. Go to our webpage.

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Voluntary Benefits Disability Insurance Life Insurance Insurance 98

WEX Inc.

AUGUST 29, 2023

There is a wide range of potential treatments and services, including: In vitro fertilization (IVF) Fertility medications Diagnostic testing Egg freezing Fertility counseling and consultations Adoption assistance And more What fertility treatment does an HSA or FSA cover? It is not legal or tax advice. Here are a few to-dos for you.

Flexible Spending Account 98

Flexible Spending Account Health Savings Account Flexible Spending Medical 98

Business Management Daily

APRIL 25, 2024

Employers are required by law to provide certain benefits to employees. Beyond that, however, fringe benefits can help employers sweeten the deal and make work a better place to be. Employers can use this to their favor by distinguishing themselves as a desirable place to work.

Taxes 52

Taxes Retirement Plan Employee Stock Option Bonuses 52

Griffin Benefits

OCTOBER 1, 2022

Among the various transparency rules contained within the Consolidated Appropriations Act is a requirement for employers to provide certain plan information about prescription drugs. Practical Challenges Fully-insured employers may contract with their insurance carriers to provide prescription drug reporting on their behalf.

Insurance Carriers 65

Insurance Carriers Employment Flexible Spending Account Insurance 65

Employee Benefits

AUGUST 24, 2023

For employers, setting up an auto-enrolment pension plan for your staff is a must. Understanding Auto Enrolment At its core, auto enrolment means establishing a pension system by the employer for the benefit of their employees. Salary sacrifice is one method of processing employer workplace pension contributions.

Pension 52

Pension Employment Net Pay Salary 52

Employee Benefits

NOVEMBER 22, 2023

According to the government, which announced the move in the Autumn Statement, this means the average worker earning £35,400 will receive a tax cut in 2024-25 of more than £450. At particular risk are employers with lower-paid staff where flexible benefits and other salary sacrifice schemes are available.

Insurance 59

Insurance Pension Taxes Salary 59

Qandle

JUNE 15, 2023

Tax Deducted at Source (TDS) is a mechanism employed by the Indian government to collect taxes at the source of income. Step 1: Register on the TRACES Portal To make TDS payments online, you need to register on the Tax Information Network (TIN) website’s TRACES portal ( [link] ).

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