Taxes & Employee Benefits

Offering A Dependent Care Assistance Program (DCAP) To Your Employees

dependent care assistance program

Jul 6th, 2018 by TRAXPayroll

Some business owners are considering providing their employees with benefits which will ease the financial impact of childcare. DCAP, or Dependent Care Assistance Program is a great way to start, and below is what employers should know about it.

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Did You Get A Marketplace Notice?

Marketplace notice

Jun 21st, 2018 by TRAXPayroll

The first batch of health insurance marketplace notices have recently been sent out and you may have received one. Below is a description of what these notices mean, why some receive them, and how you should respond.

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Getting To Know Level Funded Health Plans

level funded health plans

Jun 7th, 2018 by TRAXPayroll

Establishing employee health coverage has become an essential part of operating a business, large or small. However, smaller enterprises have had a more challenging time acquiring sufficient coverage since the passing of the Affordable Care Act. One solution that has been devised is level funded health plans. Below is a description of how it works, and the advantages companies can gain by using it.

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Is Your Employee’s Health Insurance Taxable?

employee's health insurance

May 28th, 2018 by TRAXPayroll

A number of small businesses owners want to know if it’s possible to reimburse the individual health insurance of their employees, rather than providing a standard group policy. Additionally, they want to know if such an arrangement is taxable.

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What Businesses Should Know About The New Tax Rules In The United States

new tax rules in the United States

May 4th, 2018 by TRAXPayroll

Many small business owners are coming to terms with the new tax reform 2018 bill. It has made drastic changes to income taxes associated with individuals and businesses, and below are the most important new tax rules that business owners should be aware of this year.

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The Massachusetts Pregnant Workers Fairness Act Takes Effect In April

Massachusetts Pregnant Workers Fairness Act

Apr 3rd, 2018 by TRAXPayroll

The Pregnant Workers Fairness Act has gone into effect starting April 1st. This law basically states that employers within the state of Massachusetts will not be able to deny females or recent mothers proper accommodations, even in cases where her pregnancy or condition isn’t considered a disability within current federal and state discrimination laws.

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Tax Changes In 2018 That Every Employer Should Know

tax changes in 2018

Mar 18th, 2018 by TRAXPayroll

The Tax Cuts and Jobs Act law is now official, with the Internal Revenue Service releasing its newest tables for withholding of income taxes. Some aspects of the bill have left employers shaking their heads in regards to what it all means, and whether or not they will be affected by it. Below are some details that will clarify tax changes in 2018.

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How To Deal With Official IRS Notices

IRS notices

Mar 8th, 2018 by TRAXPayroll

While receiving official IRS notices is rarely a pleasant experience, they can sometimes result from clerical issues or discrepancies involving payment, and can be resolved with ease. However, regardless of whether the issue is simple or complex, it is important for employers to handle these tax notices in the right way.

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Employee Benefits Trends Predicted To Go Big In 2018

employee benefits trends

Feb 25th, 2018 by TRAXPayroll

Employers in multiple industries have become aware of the importance of employee benefits and have taken steps to assist their workers in making sound financial decisions. In particular, employers are emphasizing those benefits which boost worker satisfaction, as well as loyalty and productivity. Here are some of the hottest employee benefits trends which are expected for 2018. Read More

Amendments for Qualified Retirement Plans

Amendments for Qualified Retirement Plans

Feb 20th, 2018 by TRAXPayroll

Plan sponsors that have added additional features and benefits to their retirement plans during 2017 will need to make sure that the discretionary amendments are signed before December 31s. . Those who have made such amendments must also take the time to ensure they’re adopted formally before the close of the year. Read More

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