Research shows that almost 80 percent of those employed want employee benefits. But are these benefits essential? The answer is absolutely. In fact, benefits are just as important as a good salary, and are one of the factors that will make an employee decide whether he or she wants to work for you.
California collects a variety of taxes from its residents and as of this writing has an income tax rate of 13.3 percent, which is the highest in the United States. There are a number of reasons why taxes in this stateare so high, and below are some state taxes in California that residents are responsible for.
Regardless of how many times you’ve done it, open enrollment can be a bit tedious. As a result below are some tips that have been developed by many large businesses to ensure the process is as seamless and hassle free as possible. It includes all the things you should be doing prior to, during and after open enrollment has been completed.
One of the many taxes that business owners are responsible for paying is FICA. But what is it? How is it used? Anyone who is not a sole proprietor, and who employs at least one employee must pay this tax. Below are some things you should know including how it should be calculated.
Employee benefits are constantly improving, so it is important for employers to keep abreast of the changes that are occurring in their respective industries. This will ensure that they will continue to attract and retain the top talent. Here is a list of the top benefits for 2017.
As insurance premiums and medical costs continue to increase, business owners are looking for new methods to lower their insurance related expenses. One common way of achieving this is by raising health plan deductibles. However, transferring the cost to workers can be problematic to employers, especially when it comes to hiring the top talent. Therefore, another option for dealing with rising deductibles is to package a medical plan which is high deductible with a HRA and HSA. Each can be used to fill the gap for a low and high deductible while simultaneously lowering insurance premiums.
When employees become injured or ill, or they’re expecting a child, they may decide to take time off work. This leave of absence can be confusing for both them and their employer. The reason for this is because there are different types of off time, two of which are FMLA leave and short term disability leave. Understanding the two types, as well as when employees can use it, is essential.
The AHCA, or American Health Care Act, recently passed the House of Representatives and is considered the replacement of Obamacare. This has left many small business owners wandering what it means for them and their employees. Below are some important things you should know.
Many business owners will at some point begin thinking about their retirement and that of their employees. The best retirement plan is the 401(k), and the sooner you get started, the better. However, there are some essentials you’ll need to know in order to make the best use of it.
Once a business owner is ready to present the small business HRA to his employees, it is essential to explain the benefits of using it. They should understand that the change will not lower their health benefits, and will instead make them better. Below are some other things you should do.