Webinar: Payroll Tax Reduction Plan 2.0; The Tax Breaks Keep

A Payroll Tax Reduction Plan is the most overlooked strategy businesses are not using, and with some recent changes the tax breaks are only getting better!

What’s most unfortunate about businesses not using this strategy is that it not only reduces the payroll taxes of the business, it also substantially increases employee benefits with no out of pocket cost to the employee.

We will also be covering how the recent "payroll tax holiday" will affect this strategy, businesses and employees.

You can see the high-level benefits and guidelines below:

Key Benefits of the plan:

• The employer receives an annual tax savings of up to $1,400 per participating employee 
• Through the limited medical benefit provider, employee receives tax credits to fund additional healthcare and insurance benefits
• The tax credits reduce overall taxable income, decreasing the businesses FICA and payroll taxes
• On average employee benefits quadruple and their take home pay DOES NOT change

Employer Eligibility Requirements:

• 25 or more full time W2 employees making at least $25,000 a year.
• Employer must currently offer a healthcare plan

Employee Eligibility Requirements:

• Must currently have healthcare (it does not have to be with the employer, it can be through a spouse, parent the exchange ect)
• Must be full-time with the employer
• Must be a W2 Employee
• Must be 18 years or older
• Must have an annual income of $25,000 or more with the same employer