Can a Section 125 Plan Be Customized to Fit Different Business Needs?
Can a Section 125 Plan Be Customized to Fit Different Business Needs? A Section 125 plan is one of the most efficient and approved by the IRS means for firms to cut down on payroll tax costs and give their employees the opportunity to enjoy considerable pre-tax benefits. Firms save on payroll taxes just like […]
How Section 125 Plans Reduce Employer Payroll Tax Liability
How Section 125 Plans Reduce Employer Payroll Tax Liability Among the business owners’ ongoing toughest battles, one is the management of payroll costs. Besides, the payroll expenses associated with wages and benefits are rising while the taxes are quietly taking away a large share of the operating budgets. Most of the companies think of these […]
Section 125 Plan Compliance: Key Requirements for Employers
When you run a business, there are so many obligations: dealing with employees, keeping up with the competition, and last but not least, maintaining payroll and taxes. One of the most effective ways employers can save on costs while providing real value to their team is through an IRS Section 125 plan. These plans (also […]
How Does an IRS Section 125 Plan Affect Employee Paychecks?
There’s no shortage of payroll deductions these days. But some of them actually work in your favor. One of those? The IRS Section 125 plan. It’s been around for a while, but a surprising number of employers and employees still aren’t using it the way they could. Let’s be honest: most people don’t read the […]
How Can You Maximize Tax Breaks for Small Businesses This Year?
Running a business these days means every dollar matters. You’re probably balancing rising payroll, rent, and health costs and taxes only add to the weight. But here’s the thing: many small businesses are sitting on tax-saving opportunities they’ve never tapped into. From smarter benefit structures to credits you may have never considered, let’s walk through […]
What Does Section 125 on W2 Mean for Your Taxes?
When reviewing your W2, you may notice a reference to Section 125 and wonder what it means for your taxes. In short, it’s a powerful tax-saving mechanism used by both employees and employers. This blog explains what Section 125 on W2 really indicates, how it affects your taxable income, and how Renaissance Advisory helps businesses […]
What Is a Section 125 Plan? Benefits and Options To Consider
In today’s cost-conscious business environment, offering competitive benefits can feel like walking a tightrope, trying to keep employees happy without inflating your budget. The key? Smarter structuring. A Section 125 plan, often referred to as a cafeteria plan, offers one of the most efficient ways to reduce payroll tax liability and increase employee take-home pay, […]
What is a Section 125 Plan? Understanding Benefits and Features
Business owners always try to increase profits while making sure their team members are taken care of. A Section 125 Plan both solves these needs and does not cause any disruption to the company. The firm helps businesses adopt this lesser-known way to cut their payroll tax charges and leave their employees with bigger pay […]
How Does a Section 125 Plan Save Me Money?
In today’s competitive business environment, every dollar counts. Along with seeking cost reduction, you must find ways to improve employee benefits as a business owner. A IRS Section 125 plan represents a strong business strategy that numerous organizations ignore. Our company Renaissance Advisory, assists businesses to adopt advanced solutions that unite Section 125 plans with […]
5 Key Employee Benefits to Attract and Retain Talent in 2024
Introduction In 2024, a strong benefits package is essential for attracting and retaining top talent. While salary is important, many employees are now prioritizing benefits that improve their health, work-life balance, and financial security. Here are five key benefits that companies should consider offering to stay competitive and support their workforce. Health and Wellness Programs […]