Taxes & Employee Benefits

Ready To Employ An Anti-Pink Tax Policy?

pink tax

Sep 27th, 2018 by TRAXPayroll

No, the “Pink Tax” is not something that is government levied. It’s not the kind of “tax”. It is a markup of services and goods charged to women when compared to comparable services and goods paid for (and purchased by) men. To bring attention to this phenomenon, a campaign was launched by Burger King. For a pink box of French fries, more was charged than for a normal box – but both boxes contained exactly the same portion of fries. Is your business using pricing that is gender-neutral? In fact, is your payroll department practicing neutral policies when it comes to how much men and women get paid?

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What’s The Duration For Health Insurance Reimbursement?

Health Insurance Reimbursement

Sep 16th, 2018 by TRAXPayroll

When HRA (health insurance reimbursement) is first set up by a company, one question is frequently asked: is there a required (or specific) time frame for employee health expenses reimbursement? Employees, likewise, frequently ask what kind of time frame they have within which to get paid for their health expenses. For the most part, deadlines for health insurance reimbursement are HRA plan document defined.

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Do You Fully Understand The Tax Cuts and Jobs Act (TCJA)?

Tax Cuts and Jobs Act

Sep 8th, 2018 by TRAXPayroll

When it comes to alterations involving employee benefits tax breaks, the Tax Cuts and Jobs Act (TCJA) has left people with some negative and positive feelings. Both the benefit-providing businesses and the benefit-enjoying employees are affected by this act. This could prove to be a headache for employees and payroll departments alike. Let’s take a closer look.

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What 1099 Employees Need To Know About Taxes

1099 employees

Aug 23rd, 2018 by TRAXPayroll

1099 employees, whether they work in the office of their employer or at home, have access to much greater freedom and flexibility than traditional forms of employment. At the same time, this freedom comes with more responsibility, particularly when it comes to taxes. Both self-employed people and contractors must familiarize themselves with their employment status, and how their taxes should be filed, as a failure to do so could lead to steep fines and other penalties.

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Tax Season Is Over But You Can Start Planning For The Next One!

Tax season

Jul 29th, 2018 by TRAXPayroll

Taxes and employee benefits are a key part of running a business. It is not something that should be taken lightly, nor should you wait until the last minute to do it. The best way to prepare for tax season is in advance, which will ensure the filing process goes as smoothly as possible. Below are some tips for achieving this.

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


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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