Graduate students outraged by tax change

Posted Leave a commentPosted in education, Employee Benefits, Taxes

The tax reform process has triggered uncertainly and angst while final negotiations are worked out. Many groups, including graduate students, have good reason to be concerned. The proposals that passed by Republicans in both the House and Senate change the tax treatment of employer-provided educational benefits. Scholarships that are now tax-free for employees would be […]

How to save money on workers compensation insurance costs

Posted 1 CommentPosted in Employee Benefits, Small Business, Tax Planning

Three primary and effective strategies are available to help small business owners reduce the cost of workers compensation insurance: Qualify for an exemption from coverage Qualify employees for a better rating category Arrange employee benefits to be specifically excluded from taxable wages. (This strategy reduces both wage taxes and workers compensation insurance costs). The details […]

Odd experience with employee benefit documents

Posted Leave a commentPosted in Employee Benefits, Small Business

Over the years I’ve collected sample employee benefit documents from former employers, the IRS, insurance and investment companies, members of Employee Benefits Institute of America Inc., and my own clients. They’ve been loaned back and forth and changed, mashed, updated and reviewed many times. They used to be posted in an online library but I don’t […]

Effect of election on NJ small businesses

Posted Leave a commentPosted in Accounting, aquaculture, Employee Benefits, News and Politics

New Jersey is now the seventh state where Democrats control both the executive and legislative branches. What does that mean for us with small businesses here? This is more than just a local wall against trumpism. It directly translates to increased tension and a lack of coöperation between the federal and state government. The news […]

How can I save real money on health care?

Posted Leave a commentPosted in Employee Benefits, Financial Planning, Health Insurance

If you run a business, are self-employed or otherwise pay the full cost of your own health care expenses then you know that the price is too high. We are quickly approaching the point where one out of every five dollars of income will be spent on health care. This week the federal government took […]

All Tweets are not created equal

Posted Leave a commentPosted in Employee Benefits, Health Insurance

My top tweet @tonynovak this month got 60% of all impressions. the #2 had 15%, the next four most popular got about 5% each, leaving only 5% total for the many other tweets.  I see that cross-posting a popular tweet into other conversations boosts it further. The hot topic: health care reform of course. My […]

Retirement saving basics for small businesses

Posted Leave a commentPosted in Employee Benefits, Retirement

Most working people today say that they expect to continue working past age 65. Yet the real world statistics tell a different story. At least half of us end our working career sooner than we expected, usually for medical reasons. My two related comments to small business owners are: It is simple and inexpensive to […]

Features of Freedom Benefits Small Business Benefit Plan 2018

Posted Leave a commentPosted in Employee Benefits, Small Business

The new 2018 Small Business Employee Benefit Plan, available now, includes more features and options than ever before to allow your small business to offer big company benefits. Features include: ·       Easy, fast and inexpensive ·       Allows for inclusion of a Health Reimbursement Arrangement (HRA), Health Savings Account (HSA), Flexible Spending Account(FSA), dependent care plan, […]

New small business employee benefit plan

Posted Leave a commentPosted in Employee Benefits, Small Business

I am pleased to introduce Freedom Benefits’ new small business flexible consumer driven employee benefit plan for 2018. Three new features are incorporated immediately: 1) Increased opportunities to waive the setup and advisory fees by working through an affiliate accountant or agent, 2) increased range of insurance options to include non-ACA compliant health insurance, and […]

Taxation of health insurance

Posted 1 CommentPosted in Affordable Care Act, Employee Benefits, Health Insurance

This article was originally published in 2003 and has been revised multiple times; most recently to reflect changes triggered by the American Cures Act of 2016. At the time of this latest revision, it appears possible that we may see still more last-minute tweaks in health insurance tax law for 2018. Until recently, the tax-favored […]