Pre-Tax programs Information
What is a Pre-Tax program?
There are many federal programs in place that if properly implemented, allow an employer and employee to pay for benefits with Pre-Tax dollars.
Paying for them, or saving money on a Pre-Tax basis eliminates some or all of the corresponding payroll taxes.
Some types of eligible products or programs are:
- Health insurance premiums
- Voluntary insurance premiums
- Health Savings Accounts
- Health Reimbursement Accounts
- Flexible Spending Accounts
- Certain Retirement Contribution Accounts
Certainly there are compliance requirements, participation, filing, and contribution guidelines for each type of account.
The greatest benefit to employers and employees is that they utilize funds generally already in play to fund and pay for these options.
Contact us to discuss ways to keep more of your revenue active and provide a legal and excellent way to use these programs to your advantage.