Now for some really exciting news.
We’ve been working with several employers recently on Section 125 benefit strategies, and the numbers have been incredible.
One employer we’re working with is projected to save approximately $68,000 per year in payroll taxes while providing eligible employees access to an ACA-compliant benefit at no additional employer cost under the program structure.
Another group has approximately 327 employees, and the projected payroll tax savings are approaching a quarter of a million dollars annually, again while creating an opportunity to provide valuable health and wellness benefits to employees.
When I show business owners these numbers, I hear the same thing all the time:
“James, this sounds too good to be true.”
I understand the reaction.
But Section 125 isn’t some new loophole somebody invented last Tuesday.
Section 125 of the Internal Revenue Code has been around since 1978.
Congress created these tax-advantaged benefit structures for a reason: there is public policy value in encouraging employers to provide benefits and allowing eligible employee benefit contributions to receive favorable tax treatment.
And today’s benefit strategies can use that framework in some very interesting ways.
If you already offer health insurance, that doesn’t necessarily mean this isn’t for you. Depending upon your existing benefits and workforce, these programs may be able to complement what you already have.
If you own a business with employees, let’s run the numbers.
There is no obligation.
Give us your census and payroll information, let us evaluate it, and we’ll show you whether there’s an opportunity.
You might be surprised by what we find.
To schedule an appointment with James, please click here. or reach out to James at here or 631-608-1137.
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