InterWest Insurance Services
AUGUST 10, 2022
Employers who offer health savings account-eligible high-deductible health plans (HDHPs) to employees can significantly expand pre-deductible coverage for certain drugs used to manage chronic conditions — with only a tiny effect on premiums. no deductible and no coinsurance), the net impact on premiums was an increase of 4.7%.
Benefit Resource Inc.
JANUARY 3, 2023
The money set aside in your FSA is deducted from your paycheck each month before taxes are taken out so you get an immediate tax savings on every dollar contributed. As we begin 2023 fresh with optimism for achieving our goals — make sure you set yourself up for success by utilizing pre-tax benefits. That’s more money in your pocket!
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Kollath CPA
FEBRUARY 10, 2022
When you’re filing your tax returns, what expenses can you deduct from business income? To start with, a business expense must be both ordinary and necessary to be deductible, according to the IRS. Deducting Business Expenses: Separating Fact From Myth. You must capitalize some costs rather than deduct them.
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.
Money Talk
JANUARY 18, 2023
Not surprisingly, much of the news was negative; e.g., soaring prices for food, gas, utilities, cars, insurance, and more. 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).
Benefit Resource Inc.
APRIL 23, 2019
Unfortunately, too often, neither of these things happen and employers see over-utilization and misuse of HRA funds by employees. However, this perception also leads employees to over-utilize their benefits as they try to avoid leaving anything unused. Option 1: Add a deductible to the HRA. Option 2: Offer to split the check.
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.
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