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The Internal Revenue Service (IRS) updated its special per diem rates for the transportation industry, incidental expenses and the “high-low” substantiation method. These rates, announced September 26 in Notice 2018-77, apply to allowances paid to employees on or after October 1 for travel on or after that date.
A recent survey of 1,000 office workers by Adler Business Gifts found that 97% of employees expect company perks as part of their employment package. We all know how much recruitment can cost, so retaining your staff is more important than ever. If your business isn’t already offering a benefits package alongside your basic salary, […]
The Internal Revenue Service (IRS) in late September announced two updates to procedures that plan sponsors and their service providers should note.
A struggle many employers face is deriving the most value from their benefits investments and encouraging employee participation in company health and wellness programs. At a fundamental level, most employers offer similar benefits and, when put side by side, they can often add up to as many as 67 individual services or programs for employees […]
We recently reported that employer-sponsored 401(k) plans with above-average performance criteria are likely to be offered by companies that have 20-percent to 80-percent higher corporate profitability than companies with average-rated plans. This was all according to new T. Rowe Price research. Today we have new analysis of that report by our Benefits Editor, Jane Meacham.
More companies are quickly realizing that candidates and employees, alike, are looking for a better work/life balance. One way to do this is by offering flexible schedules and according to one survey, flexible scheduling leads to more productive workers. A win-win for all!
In part 1 of this article we began to explore the effect that the Tax Cuts and Jobs Act of 2017 (TCJA) has on personal tax deduction for business owners. Today we are going to explore reporting requirements for Relevant Passthrough Entities (RPEs) as well as some timing considerations.
Employees in every industry are burdened with student loan debt. According to the latest Federal Reserve data, Americans carry over $1.5 trillion in student loans. The amount continues to grow every quarter. PricewaterhouseCoopers’ 2018 Employee Financial Wellness Survey revealed that 54% of employees are stressed about their finances, and 64% are impacted by student loans. […]
We know a well managed 401(k) can help employees plan for retirement, but what do 401(k)’s do for employers? New research shows it might just be helping their bottom line.
Retirement plans always have been an excellent vehicle for creating current tax deductions for businesses. For a business that passes through income to its owners, the business’s retirement plan often is designed to reduce each owner’s personal taxable income by a share of the retirement plan’s contributions.