I am also setting up a pre-tax AFLAC deduction. We are a very small business. We have no flexible spending or cafeteria plans and frankly, I have no time to research these topics. Can we do the aflac deduction pre-tax without the flex or cafeteria? And is this deduction free from fed...
Section 125 cafeteria plansgenerally cover most of the employee benefits pre-tax. Examples of pre-tax voluntary benefits are: Adoption assistance programs 401(k) contributions Long-term and short-term disability coverage Employer-sponsored accident and health plans (which includes FSAs and accidental de...
Another type of flexible benefits plan often offered to employees is a flexible savings account (FSA), orhealth savings account(HSA). These allow individuals to contribute pre-tax income to the account, and then withdraw the funds as needed to pay for qualified expenses, such as medical bills...
Some common fringe benefits include health insurance, retirement plans, paid time off. It can also include perks like access to the company car, cell phones, in-house gyms, subsidized cafeteria plans and more. Even though all employees within a company are eligible for specific fringe benefits,...
401(k) plans, which allow employees to contribute a portion of their pre-tax income to a retirement account, with some employers matching a portion of the employee's contribution. Defined benefit plans, which provide a specific benefit amount to employees upon retirement based on their years of...
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In the early 1960s, when my parents were in high school, they received free sampler packs of cigarettes on their cafeteria trays. To the cigarette companies, it made sense: Where better to find new customers than at schools, whose students, being children, hadn’t yet established brand loyal...
Pre-tax insurance (Cafeteria 125) plans Group Term Life Insurance (GTLI) A taxable fringe benefit like Personal Use of Company Car (PUCC) A taxable company contribution like a Health Savings Account (HSA) Retirement deductions Deductions like retirement can decrease the amounts in one or more...
Common fringe benefits are basic items often included in hiring packages. These include health insurance, life insurance, tuition assistance, childcare reimbursement, cafeteria subsidies, below-market loans, employee discounts,employee stock options, and personal use of a company-owned vehicle. Uncommon f...
Common fringe benefits are basic items often included in hiring packages. These include health insurance, life insurance, tuition assistance, childcare reimbursement, cafeteria subsidies, below-market loans, employee discounts,employee stock options, and personal use of a company-owned vehicle. Uncommon f...