Knowledge Base

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Health and Welfare

HSA Best Practices: How to Save on Prescription Drugs

Consumers who use high deductible health plans (HDHPs) and Health Savings Accounts (HSAs) to help manage their healthcare costs are conscious of rising drug prices, which are increasing at their highest rate since 2003.

Retirement

Retirement Plan Basics – Missed Deferral Opportunities

One of the more difficult areas in retirement plan compliance is making sure that all eligible participants that wish to contribute to a retirement plan are given the opportunity to do so.

Health and Welfare

How to Handle FSA Contributions During a Leave of Absence

Occasionally we find that an employee must take an approved unpaid leave of absence. How do you fund the FSA while they are out?

Retirement

Comparison of 401(k) and 457 Plans

Who can sponsor a 457 savings plan? What are the different types of 457 plans and what advantages do each provide as compared to a tradition 401(k) type savings plan?

Health and Welfare

Using a Limited-Purpose FSA in Conjunction with your HSA

Why would anyone ever choose to make a separate contribution to a Limited-Purpose Flexible Spending Account (FSA) that only covers dental and vision expenses when you already have an HSA for those expenses?

Retirement

Unrelated Business Taxable Income

Unrelated Business Taxable Income (UBTI) generally means any gross income gained from any unrelated business regularly conducted by an exempt organization. Whether the income is UBTI depends on the type of tax-exempt organization that produces the income.

Health and Welfare

Clearing the Tax Form Fog

With February upon us, most Americans have forgotten or discarded their New Year’s resolutions, but there is still one thing Americans can look forward to, tax refunds! Unfortunately, getting a refund requires collecting, sorting, and verifying all the tax documents needed to correctly file a tax return.

Health and Welfare

Can Owners Participate in a Cafeteria Plan?

The main idea behind a cafeteria plan is to provide a tax advantage to a business’s rank-and-file employees, as opposed to their key employees or executives. One particular group to consider in the administration of a cafeteria plan, then, is a business’s owner or group of owners.

Retirement

2016 Retirement Plan Limits

The IRS has released Retirement Plan Limits for the 2016 plan year. There were no cost of living adjustments made, so the limits will remain the same as they were during 2015. Below is a summary of the retirement limits for your reference throughout the coming year.

Health and Welfare

Cadillac Tax Delayed Until 2020

On December 18th, 2015 Congress passed a $1.1 trillion spending bill to fund government operations and avoid shutdown. Included in the bill is a two-year delay to the "Cadillac Tax" provision of the Patient Protection and Affordable Care Act.