Taxed Enough Already: Episode 11

IRS Ruling is a Massive Win for Employers and Employees

In this episode of Taxed Enough Already our Founder, Dan Nuwash, and our Director of Operations, Jesse Somdahl, discuss a recent IRS Ruling that was released earlier this year (April 3^rd, 2024). This ruling is a massive win for employers and employees, and it specifically relates to, and solidifies the validity of, a tax plan we consistently utilize. We call this plan a PTR Plan, or payroll tax reduction plan.

Dan Nuwash is the Founder and Managing Partner of Finance For Thought and can be reached through our website.

Jesse Somdahl is the Director of Operations of Finance For Thought and can be reached through our website.

Watch Taxed Enough Already here, on Rumble, YouTube, and listen to it on Apple Podcasts, Spotify, or anywhere you listen to your podcasts.

If you're interested in obtaining more information you can schedule a quick introductory virtual meeting with one of our partners using the button below or contact our office.

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Disclosures:
TAX- To the extent that this material concerns tax matters, it is not intended or written to be used, and cannot be used, by a taxpayer for the purposes of avoiding penalties that may be imposed by law. Each tax payer should seek tax, legal or accounting advice from a tax professional based on his/her individual circumstances.

TAXES- This material is for informational purposes only. Neither Finance For Thought, FFT nor its Representatives provide tax, legal or accounting advice. Please consult your own tax, legal or accounting professional before making any decisions.

Sources:

https://www.federalregister.gov/documents/2024/04/03/2024-06551/short-term-limited-duration-insurance-and-independent-noncoordinated-excepted-benefits-coverage

https://www.dol.gov/newsroom/releases/ebsa/ebsa20190619

https://www.oig.dol.gov/public/Press%20Releases/Accountant%20Charged%20with%20Conspiracy%20for%20His%20Role%20in%20Operation%20of%20Covington%20Business%20Running%20Medical%20Reimbursement%20Account%20Program.pdf

https://www.irs.gov/pub/irs-wd/201622031.pdf

https://www.irs.gov/pub/irs-wd/201703013.pdf

https://www.irs.gov/publications/p15b

https://www.irs.gov/

https://www.shrm.org/resourcesandtools/hr-topics/benefits/pages/retention-top-benefits-objective.aspx

https://www.shrm.org/resourcesandtools/hr-topics/benefits/pages/alter-benefits-attract-retain.aspx

https://www.irs.gov/government-entities/federal-state-local-governments/faqs-for-government-entities-regarding-cafeteria-plans

https://www.treasury.gov/press-center/press-releases/pages/hp526.aspx