Snell & Wilmer Benefits

JANUARY 24, 2023

If you sponsor a high deductible health plan (“HDHP”) and have been tracking telehealth relief, your head may be spinning and rightfully so! The relief allows, but does not require, HDHPs to provide telehealth and other remote care services on a pre-deductible basis without making participants health savings account (“HSA”) ineligible.

Deductions 52

Deductions Deductible Family and Medical Leave Act Health and Welfare 52

Employee Benefits

FEBRUARY 28, 2023

Salary sacrifice schemes are hugely popular among UK employees and employers. Whilst taking money from the pay packet reduces what an employee may receive each month, it can also reduce the taxes both employee and employer are expected to pay – if the scheme is applicable.

Deductions 52

Deductions Deductible Salary Taxes 52

Benefit Resource Inc.

JANUARY 4, 2023

The 2023 spending bill signed into law on December 29th includes extending pre-deductible telehealth services coverage. This is excellent news for employers and HR professionals who want to provide employees with access to affordable healthcare services. But what does this extension mean, and how can employers take advantage of it?

Deductions 40

Deductions Deductible Out of Pocket Cost Healthcare 40

Stratus.HR

JUNE 11, 2021

High Deductible Health Plans (HDHP) and Health Savings Accounts (HSA) are growing more and more popular each year. Well, there’s a flipside of HDHPs and HSAs that includes a higher deductible and added out-of-pocket costs. It’s also possible that your employer has already contracted with a bank to simplify this process.

Deductions 76

Deductions Deductible Out of Pocket Cost Health Savings Account 76

HR Lineup

APRIL 19, 2024

In this comprehensive guide, we will delve into the various types of equity compensation, how they work, their tax implications, and their impact on both employees and employers. Employee Stock Purchase Plans (ESPPs): ESPPs allow employees to purchase company stock at a discounted price, often through payroll deductions.

Equity Compensation 80

Equity Compensation IT Taxes Compensation Equity 80

Benefit Resource Inc.

JUNE 20, 2019

Not all payroll deductions are created equal. Some people (although not many) may engage in a heated debate on the value of pre-tax deductions vs. post-tax deductions. Colleagues (even in our own organization) have asked “Why do we need post-tax deductions?” What is a pre-tax deduction?

Deductions 53

Deductions Deductible Taxes Health Savings Account 53

Snell & Wilmer Benefits

JANUARY 24, 2023

If you sponsor a high deductible health plan (“HDHP”) and have been tracking telehealth relief, your head may be spinning and rightfully so! The relief allows, but does not require, HDHPs to provide telehealth and other remote care services on a pre-deductible basis without making participants health savings account (“HSA”) ineligible.

Deductions 40

Deductions Deductible Family and Medical Leave Act Health and Welfare 40

InterWest Insurance Services

MARCH 22, 2022

The deadline is fast approaching for employers with 5 or more workers in California, and who do not already offer their employees a retirement plan, to register their staff for the CalSavers Retirement Savings Program. Employers with 50 or more workers – The deadline for registration was June 30, 2021. Employers can register here.

401(k) 98

401(k) Retirement Plan Employment Deductions 98

Money Talk

MAY 18, 2022

Since there is no longer a non-itemizer’s charitable deduction in 2022 and only about 10% of tax filers itemize, you’ll probably have fewer receipts to save. Ramp Up Retirement Savings - Consider increasing retirement savings in a tax-deferred employer retirement savings plan (e.g., 401(k), 403(b), and traditional IRA).

Taxes 262

Taxes 401(k) Deductions Deductible 262

InterWest Insurance Services

JULY 13, 2023

Employers who were surveyed for a new report expected that group health insurance premiums would increase 5.4% In fact, 64% of large employers (with 500 or more workers) plan to enhance their health insurance and well-being benefits to stay competitive for talent and to keep their staff happy, Mercer found. copay plan). copay plan).

Employment 98

Employment Out of Pocket Cost Health Insurance Health Savings Account 98

Global People Strategist

DECEMBER 12, 2023

Austria, nestled in the heart of Europe, is renowned for its picturesque landscapes and robust employment laws. Navigating the Austrian employment landscape requires a nuanced understanding of the legal framework that governs the employer-employee relationship.

Employment 52

Employment Taxes Deductions Deductible 52

InterWest Insurance Services

OCTOBER 27, 2022

The plans benefit employers, as well. Since the pre-tax benefits aren’t subject to federal social security withholding taxes, employers don’t have to pay FICA or workers’ comp premiums on those payments. A cafeteria plan can save employers an average of almost $115 per participant in FICA payroll taxes.

Flexible Spending Account 97

Flexible Spending Account Employment Flexible Spending Deductions 97

InterWest Insurance Services

JANUARY 5, 2023

this year, the tight labor market is forcing employers to prioritize enhancing benefits over cost-cutting measures, according to a new report by Mercer. Also, with mental health a top concern for workers, employers are seeking out benefits and plans that include virtual mental health services to make it easier to access care.

Out of Pocket Cost 92

Out of Pocket Cost Employment Health Insurance Deductions 92

PeopleKeep

OCTOBER 26, 2020

The percentage of workers covered under HDHP plans has increased from four percent of all employer-sponsored health insurance plans in 2006 to 31 percent in 2020. A high deductible health plan (HDHP) paired with a Health Savings Account (HSA) is growing in popularity because it allows employees to pay for medical expenses tax-free.

Deductions 75

Deductions Deductible Health Savings Account Health Insurance 75

BerniePortal

JUNE 2, 2022

Employers, on the other hand, know how complicated payroll can get, especially when it comes to withholding taxes. To employees, payroll may seem pretty straightforward.

Payroll 98

Payroll Employment Commissions Deductions 98

InterWest Insurance Services

MARCH 16, 2023

Large employers are unwavering in their plans to continue offering group health plans to their workers instead of funding individual reimbursement accounts that would allow them to shop for plans on government-run exchanges, according to new research. “We liked to have control. .” “A big part was trepidation. .”

Health Insurance 98

Health Insurance Employment Out of Pocket Cost Health Savings Account 98

InterWest Insurance Services

NOVEMBER 30, 2023

American employers are trying to meet their workers’ mental health needs as they struggle with burnout and stress from their jobs and finances, according to a new report. The poll also found that only half of workers (48%) had confidence that their employers cared about their well-being.

Paid Sick Leave 98

Paid Sick Leave Employment Bonuses Medical 98

Qandle

SEPTEMBER 20, 2023

Payroll taxes are a crucial aspect of every employer’s financial responsibilities. Understanding which payroll taxes employers are responsible for is essential for compliance and financial planning. The current Social Security tax rate for employers and employees is 6.2% Check out the Payroll Software.

Taxes 52

Taxes Payroll Employment Deductions 52

Money Talk

MARCH 22, 2023

I recently attended a NY Public Library webinar about tax planning and below is a summary: Standard Deduction - 2023 saw the largest ever automatic adjustment to standard deductions since indexing was introduced in the 1980s. A larger standard deduction means that taxpayers can shelter more income from income taxes.

Taxes 188

Taxes 401(k) Deductions Deductible 188

Bayzat

DECEMBER 1, 2023

Understanding termination of employment processes in the UAE helps employers and workers foster healthy transition relationships. Under labour laws, responsibilities and liabilities fall on workers and employers terminating employment, and ignoring these can attract legal consequences. What is Termination of Employment?

Employment 94

Employment Human Resources Recruitment Medical 94

CorpStrat

JULY 30, 2021

What if we told you there was a way you can deduct all of the medical expenses that are not covered by your insurance plan. We’re talking about things like deductibles, co-insurance, doctor visits, doctor’s who don’t take insurance, eyeglasses, therapy, etc. Doesn’t that sound interesting? Sole Proprieters.

Deductions 52

Deductions Deductible Medical Insurance 52

Global People Strategist

JULY 9, 2020

The Australian Taxation Office (ATO) has created short-cuts for employers and workers in order to deduct certain home office expenses. For example, employees may deduct a rate of 52 cents per hour for operating costs in addition to $50 per year for work related phone and Internet costs.

Deductions 52

Deductions Deductible Work From Home Utilities 52

Global People Strategist

DECEMBER 25, 2023

Ghana, known for its vibrant culture and burgeoning economy, offers a unique landscape for employment. Navigating the workforce in this West African nation requires a comprehensive understanding of the employment laws that govern employer-employee relationships. These contributions fund pension schemes and other social benefits.

Employment 52

Employment Taxes Paid Leave Overtime 52

Global People Strategist

DECEMBER 12, 2023

Navigating the employment landscape in Morocco involves understanding the intricacies of the country’s employment laws, which encompass regulations on general labor, taxation, and employee benefits. The Labor Code governs the employer-employee relationship, outlining the rights and obligations of both parties.

Employment 52

Employment Overtime Taxes Paid Leave 52

HR Lineup

APRIL 1, 2024

However, they become subject to taxation in the host country based on their residency or employment status. This includes understanding residency rules, tax treaties, and any applicable exemptions or deductions. This involves considering factors such as income, allowances, deductions, and tax rates. What is Shadow Payroll?

Payroll 52

Payroll Payroll System IT Taxes 52

Global People Strategist

DECEMBER 4, 2023

Ireland’s employment laws are designed to protect employees’ and employers’ rights and interests. These laws encompass various topics, including employment contracts, working hours, wages, and workplace safety. Irish employment law sets limits on working hours to ensure employees’ well-being.

Employment 52

Employment Taxes Payroll Overtime 52

Benefit Resource Inc.

FEBRUARY 7, 2022

What does this mean to workers and employers in 2022? There are three key takeaways from the past 20 years: • Premiums will increase, but employers must stay diligent when reviewing their benefits programs in order to maintain manageable increases. A “high” deductible plan still has a negative connotation.

Insurance 81

Insurance Deductions Deductible IT 81

HR Bartender

AUGUST 28, 2018

Today’s reader note is questioning the number of deductions on their final pay. When I asked my employer to pay my final paycheck, including my unpaid sick and vacation as well as severance pay, they put the severance pay in the same final check as bonus. Now, my deductions are through the roof – making my net pay very small.

Deductions 70

Deductions Deductible Net Pay Bonuses 70

Money Talk

JANUARY 18, 2023

Increased Savings Contribution Limits - Maximum limits for employer retirement plans (e.g., Standard Deduction - The amount of income taxpayers can shelter from income taxes rises with inflation (e.g., for couples filing jointly, the standard deduction is $27,700 in 2023 vs. $25,900 in 2022). million in 2022).

401(k) 245

401(k) Banking Deductions Deductible 245

Business Management Daily

NOVEMBER 9, 2020

Tax relief for pretax contributions for transportation fringes—mass transit passes or employer-provided parking—wasn’t included in the IRS’ earlier guidance. Transportation fringes are treated a bit differently from other benefits employees can purchase with pretax deductions. Which is great as far as it goes. There are no refunds.

Deductions 52

Deductions Deductible Transportation Construction 52

Money Talk

NOVEMBER 9, 2023

Examples include limiting earned income from a job or self-employment to a certain dollar amount and using tax-loss harvesting to offset realized capital gains on investments. Another way that some people proactively plan is to postpone deductible expenses until RMDs begin as a way to offset higher taxable income.

Pension 185

Pension Taxes Deductions Deductible 185

HR Digest

SEPTEMBER 16, 2023

Health benefits for employees are proving to be a huge investment for employers , with total health benefit cost per employee expected to rise 5.4% What Are Employers Doing to Manage Rising Healthcare Costs? 28 percent of large employers now have navigation services established in preparation for 2024. on average in 2024.

Health and Welfare 85

Health and Welfare Employment Healthcare Pharmaceutical 85

HR Bartender

JULY 11, 2023

I must keep my employment tax knowledge current. Only this time with employment taxes. Just because the organization can do their own employment taxes, it doesn’t always mean they should. What are employment taxes? Can organizations file their employment taxes themselves? Check it out when you have a chance.

Taxes 84

Taxes Employment Payroll Payroll System 84

Money Talk

APRIL 11, 2024

One of the few things that taxpayers can do to reduce their income taxes after a calendar year ends is to make a tax-deductible contribution to a traditional individual retirement account (IRA) or a SEP-IRA (for small business owners and/or their employees). 401(k), 403(b), 457, or Thrift Savings Plan). There is no way out.

401(k) 179

401(k) Taxes Retirement Plan Pension 179

WEX Inc.

MAY 8, 2023

More employees are enrolling in a high-deductible health plan (HDHP) each year, including more than half of U.S. HDHP vs. PPO deductible Nearly two-thirds of large employers provide their employees with the choice of an HDHP and a traditional health plan , such as a preferred provider organization (PPO).

Deductions 97

Deductions Deductible Health Savings Account Employee Enrollments 97

Assurance Agency

APRIL 12, 2023

How important is Ben Admin Most employers with at least 250 employees have a ben admin system. Benefits administration technology (Ben Admin) is a web-based database for all employees who are eligible for employee benefits. What isn’t Ben Admin First and foremost, ben admin isn’t the same as an ACA eligibility system.

Technology 52

Technology IT Insurance Carriers Deductions 52

Global People Strategist

JULY 13, 2022

As the cost of healthcare continues to rise, private employers are searching for new and innovative ways to provide health insurance for their employees. While many employers are still offering traditional health insurance plans, there is a growing trend towards alternatives such as self-funded health plans and wellness programs.

Health Insurance 52

Health Insurance Insurance Health Savings Account Deductions 52