Remove accounting self-employment-tax-deductions
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HSA vs. FSA: See how you’ll save with each

WEX Inc.

Participating in a health savings account (HSA) or flexible spending account (FSA) is a great way to save money. Health savings account An HSA is an individually owned benefits plan funded by you or your employer that lets you save on purchases of eligible expenses. Your employer owns your FSA.

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Business Vehicle Programs: Why is a Car Allowance Taxable?

Runzheimer

In this blog, we will dive into what a car allowance is , what makes a car allowance taxable and discuss a better alternative to an allowance. How a Car Allowance Works Employers pick a number and use that on a monthly cadence. Ca r Allowances are Taxable Above, we covered why car allowance s are taxed as additional income. Here’s

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Health Insurance Options for Independent Consultants

Embroker

Being an independent consultant has taught you to handle employment-related things on your own. Even if you have just recently decided to cut ties with the corporate world, you must be prepared for the challenges of being self-employed. You have to take care of your business growth, financial stability, taxes, and even retirement plan.

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Is an HSA the New 401(k) When It Comes to Retirement ROI?

Extensis

Working with a PEO partner is beneficial for both employers and their employees to ensure everyone is well-informed and set up for future financial success. Often, health savings accounts (HSAs) get grouped in with flexible spending accounts (FSAs) and leave people in the dark about what each actually offers. Yes and no.

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Switching Payroll Providers: Breaking Up with Your Current Provider

Netchex HR Blog

As we showed in our previous blog , when the time comes to switch payroll providers, you’ll notice the signs. For this blog, now that you have decided it’s time to switch, how do you go about choosing a new payroll provider? Will employees have self-service access? Discover why NOW is the right time to switch to Netchex.

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Business Vehicle Programs: Federal Mileage Allowance

Runzheimer

As long as their reimbursements for mileage fall at or below the IRS rate, those reimbursements will be tax free. We should also note that this rate was previously used by W-2 employees to claim un-reimbursed business mileage on their taxes. With the passage of the TCJA in 2016 , W2 employees can no longer deduct this mileage.

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Understanding Income Tax – Gathering data to run a payroll

Keka HR Blog

Under Section 192 of the Income Tax Act, every employer who is paying a salary income to his employee is required to deduct TDS from the salary income if it exceeds the basic exemption limit. This deduction is based on the estimate of the income that will be earned in the particular financial year and the applicable tax rates.

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