What is a Health Plan Section 125? A Deep Dive into Cafeteria Plan
Offering competitive health benefits is a key for employers to enhance employee satisfaction and retain talented and hardworking employees in the long run. A health plan section 125 offers numerous pre-tax benefits and covers medical claims as well. However, with the increasing complexities and situations, employees are looking for something much better than a traditional […]
Section 125 Benefit Plan: What Shows on Your W2
It is crucial to recognize how a Section 125 cafeteria plan contributes to your W-2 for proper tax filing and financial planning. These pre-tax deductions impact the company’s reported wages, reduce the taxable income, and at the same time meet all IRS requirements. Many employers are surprised when their W-2 wage doesn’t match the gross […]
Smart Benefits: Why Section 125 Pre-Tax Options Matter for Your Business
As a business owner, it’s important to find smart ways to reduce costs, keep your employees happy, and follow all the right rules. One proven way to do this is by offering a plan that includes Section 125 pre-tax benefits. These plans help both you and your employees save money on taxes. But not all […]