Featured Video: What Employers Need to Know about Taxing Benefits

June’s Featured Video

What Employers Need to Know about Taxing Benefits

When an employer offers employee benefits, there are requirements to tax certain benefits. While most employers may be familiar with using a cafeteria plan for employees to pay for health insurance on a pre-tax basis, there are taxation rules that apply to voluntary plans, life insurance coverage exceeding a certain amount, long-term disability or short-term disability, fringe benefits, and wellness rewards.

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The information provided is for informational purposes only and does not constitute legal advice. The information above contains only a summary of the applicable legal provisions and does not purport to cover every aspect of any particular law, regulation or requirement. Depending on the specific facts of any situation, there may be additional or different requirements. This is to be used only as a guide and not as a definitive description of your compliance obligations.