Tax reform made a lot of changes, some of which impacted employees’ fringe benefits. This article reviews the most frequently encountered fringe benefits, including those that were and were not impacted by tax changes. These changes can affect both a business’s bottom line and its employees’ deductions. Benefits Impacted by Tax Reform Qualified Transportation Fringe […]
Benefits
Wages vs. Perks: Millennial Startup Culture Meets Traditional Biz Practices
Hiring and retaining quality employees should be a core concern for any company. As the workforce shifts and unemployment drops, it’s especially important to consider both the wages and perks your business offers. Traditional business practices may not do the job anymore. With millennials now comprising a majority of young workers, it’s worth taking a […]
The Importance of Pensions to SMEs
For SMEs to remain competitive in the current economic climate, it’s imperative that they’re able to retain and recruit the best possible talent. This can be challenging, however, particularly with small businesses being relentlessly squeezed by soaring inflation, declining consumer confidence and incrementally higher interest rates. While fintech innovations such as P2P lending and invoice […]
You Could Be Taxed on That “Non-Taxable” Employee Benefit
A benefit frequently offered to employees is discounts on products or services that the company sells. Under the Internal Revenue Code, all benefits provided to an employee are taxable, unless they are specifically excluded from income or defers tax on the benefit. One example of deferring tax on the benefit would be employer contributions to […]
Why Workplace Health is an Employer’s Responsibility
One of the major healthcare controversies of the past few decades has centered around the role of businesses in paying for their employees’ health-related expenses. Although much of the debate has been centered around health insurance and who should pay for it, the role of employers in cultivating a healthy workspace has expanded in recent […]
4 Low-Cost Benefits That Majorly Boost Employee Happiness
Does your company offer free snacks in the lunchroom, long out-of-office lunch breaks, and gift cards to local restaurants as productivity rewards? If you answered yes, but can’t figure out why your employees are still dragging through the day without energy, enthusiasm or focus, then you might be interested to learn that those practices do […]
Lower Your Healthcare Costs with Employee Wellness Plans
The year 2017 has already started out rocky in the United States. With the new Presidential administration, the Affordable Care Act is on the chopping block, and many Human Resource professionals are wringing their hands waiting to see what happens. If the ACA is gutted, insurance companies could change their contracts drastically. But this could […]
15 of the Most Popular Employee Perks (Some are Free!)
In today’s job market, attracting and retaining top talent isn’t all about dollar signs. It’s not just about what you have to offer — it’s also a matter of what kind of culture your company embraces. According to employee recognition specialist Cord Himelstein, “The conversation has evolved from emphasizing retention to emphasizing company culture.” After surveying more […]
How Much Paid Vacation Should I Offer in My Small Business?
Just like everyone should be exercising regularly and eating right, vacation time can be lumped right into these important activities. Employees must take off some time to recharge their bodies and minds throughout the year to stave off stress and be more productive individuals. Let’s examine some of the concepts to consider when deciding how […]
5 Ideas for Attracting Today’s Workforce with Tomorrow’s Workplace Perks
Take a quick look around, and it may seem like the future of work is changing faster than employers can keep up with. Worker life expectancies are increasing. Lifelong careers are being replaced by flex-time and freelancing. And some workers are being replaced altogether by rise of the machines. In this article, learn five ideas […]
