Employers: Update Your Section 125 Plan - PRWeb Press Release Group http://www.rsspad.com/rss2/13380.xml Section 125 Plans allow employees to pretax their portion of health insurance. January marks the beginning of a new Section 125 plan year for most employers. - Powered by PRWeb and RSSPad en xml@emediawire.com xml@emediawire.com 30 http://www.prweb.com/userfiles/200611/core_shadow_logo200.jpg Happy Image http://www.prweb.com/ Core Documents Adds Section 125 Premium Only Plan MP3 Audio File to Site http://www.prweb.com/releases/2007/12/prweb573376.htm Core Documents announces they've added a four minute MP3 audio file at www.Core125.com explaining how Section 125 Premium Only Plans eliminate income tax on employee paid insurance premium. Learn how employers and employees can reduce income tax liability. (PRWeb Dec 2, 2007)

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]]> Sun, 02 Dec 2007 08:00:00 GMThttp://www.prweb.com/releases/2007/12/prweb573376.htm Section 125 Plan Employer Guide - Free Report http://www.prweb.com/releases/2007/06/prweb536115.htm Many employers mistakenly believe that Section 125 Plans are too complicated and expensive to set up and they miss out on hundreds or thousands of dollars in tax savings. A new Free Report entitled "Section 125 Plan Employer Guide" from Core Documents at www.CoreDocuments.com dispels this myth. (PRWeb Jun 28, 2007)

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]]> Thu, 28 Jun 2007 07:00:00 GMThttp://www.prweb.com/releases/2007/06/prweb536115.htm $99 Section 125 Plan Designed for Special Massachusetts Health Connector Regulations http://www.prweb.com/releases/2007/06/prweb532057.htm Effective July 1, 2007, the Mass Health Care Reform Law requires Massachusetts employers with 11 or more full-time employees to adopt an IRS Section 125 Premium Only Plan. Core Documents has developed a custom Section 125 Premium Only Plan to meet the special eligibility requirements established by the Massachusetts Commonwealth Connector (the Health Connector). (PRWeb Jun 10, 2007)

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]]> Sun, 10 Jun 2007 07:00:00 GMThttp://www.prweb.com/releases/2007/06/prweb532057.htm IRS Section 125 Cafeteria Plans Should be Updated by 1-1-2007 http://www.prweb.com/releases/2006/12/prweb487620.htm Employers all over the country are rushing to amend and update their Section 125 Cafeteria Plans before the New Year. Changes in IRS Section 125 tax code, revenue rulings and the law require employers to update their old plan documents for administrative purposes. (PRWeb Dec 7, 2006)

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]]> Thu, 07 Dec 2006 08:00:00 GMThttp://www.prweb.com/releases/2006/12/prweb487620.htm 2007 HSA Deductible & Contribution Limits Announced by IRS http://www.prweb.com/releases/2006/12/prweb487788.htm Employers are scrambling to update their HSA minimum and maximum deductible amounts and contribution for 2007 HSA indexed figures recently announced by the IRS. Section 125 plans also need to be updated if employee HSA savings deductions are made on a pretax basis. (PRWeb Dec 7, 2006)

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]]> Thu, 07 Dec 2006 08:00:00 GMThttp://www.prweb.com/releases/2006/12/prweb487788.htm Medical Expenses Not Covered by Health Insurance Can Be Paid Tax-Free through a Section 125 Health FSA Plan http://www.prweb.com/releases/2006/11/prweb482377.htm Employees can let the Government pay for up to 40% of their medical expenses not covered by health insurance if their employer establishes a Section 125 Health FSA or Flexible Spending Account. The beginning of a new year is historically when most employers set up Section 125 Health FSA plans for their employees. (PRWeb Nov 24, 2006)

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]]> Fri, 24 Nov 2006 08:00:00 GMThttp://www.prweb.com/releases/2006/11/prweb482377.htm HSA Savings Can Be Pre-Taxed Through a Section 125 Premium Only Plan http://www.prweb.com/releases/2006/11/prweb482602.htm When employees have their HSA or Health Savings Account bank deductions made through a Section 125 Premium Only Plan (POP) they save an additional 7.65% in Medicare and Social Security payroll taxes. Employers also save their matching 7.65% FICA (Medicare and Social Security) tax. (PRWeb Nov 24, 2006)

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]]> Fri, 24 Nov 2006 08:00:00 GMThttp://www.prweb.com/releases/2006/11/prweb482602.htm Employers: Update Your Section 125 Premium Only Plan Now http://www.prweb.com/releases/2006/11/prweb481552.htm The IRS and the Department of Labor require employers to establish a formal plan document and summary plan description before they allow their employees to pretax insurance premium. The beginning of a new tax year is historically when most employers update or start a new Section 125 Premium Only Plan year. (PRWeb Nov 22, 2006)

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]]> Wed, 22 Nov 2006 08:00:00 GMThttp://www.prweb.com/releases/2006/11/prweb481552.htm Core Documents Announces Flex Affiliate Program for Accountants, Payroll Companies and Insurance Agents http://www.prweb.com/releases/2006/04/prweb372688.htm IRS Business Audit #204378 – IRS Agent: “Let me see your Section 125 Plan Document. What do you mean you don't have one....we have to re-class all these years of insurance premium deductions back to taxable income plus interest and penalties.” This business owner may be filing a lawsuit for damages against his Accountant, Payroll Company and/or insurance agent who either knew or should have known he needed this plan document to pre-tax benefits. Core Documents has developed a program to turn this potential liability into a profit center. (PRWeb Apr 16, 2006)

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]]> Sun, 16 Apr 2006 07:00:00 GMThttp://www.prweb.com/releases/2006/04/prweb372688.htm Why Your Business Needs a Full Section 125 Cafeteria Plan http://www.prweb.com/releases/2005/11/prweb314254.htm Employers nationwide are learning how to offset high insurance rate increases by reducing payroll taxes with Section 125 Cafeteria Plans. In many cases, employer savings can add up to as much as 20 percent of every dollar being passed through the plan. (PRWeb Nov 24, 2005)

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]]> Thu, 24 Nov 2005 08:00:00 GMThttp://www.prweb.com/releases/2005/11/prweb314254.htm IRS Section 125 Audit Disasters Await Many Small Employers http://www.prweb.com/releases/2005/10/prweb302543.htm Employers nationwide are routinely ignoring IRS and DOL compliance requirements for properly establishing and maintaining IRS Section 125 and HRA plans to deduct insurance premiums, medical expenses, and dependent care assistance. The consequence: deductions may be disallowed back to the beginning; assessment of back taxes with interest and penalties; and, possible daily DOL fines. Are you one of these employers? (PRWeb Oct 27, 2005)

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]]> Thu, 27 Oct 2005 07:00:00 GMThttp://www.prweb.com/releases/2005/10/prweb302543.htm Beware of Payroll Company Profit Centers and Save Money http://www.prweb.com/releases/2005/08/prweb267722.htm One area that just about every client of a payroll processor is paying too much for is Section 125 Premium Only Plan (POP) administration. A recent survey found that payroll processors are charging their clients $360.00 to $1,500.00 every year for Section 125 POP administration. Discover a $99 alternative. (PRWeb Aug 1, 2005)

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]]> Mon, 01 Aug 2005 07:00:00 GMThttp://www.prweb.com/releases/2005/08/prweb267722.htm IRS Notice 2005-42-Core Documents offers $19.95 Plan Document Amendment Language to Extend Claims Reimbursements to 14 1/2 Months for Section 125 FSA Plans http://www.prweb.com/releases/2005/06/prweb250844.htm In a surprise move, the IRS announced a revision to the "use-it-or-lose-it-rule" for Section 125 healthcare and dependent care flexible spending accounts (FSA). At the employer's option, the cafeteria plan may be amended to allow for a 2 1/2 month grace period after the end of the plan year, during which time the participants may still incur expenses and claim reimbursement from any unused balance in their FSA accounts. (PRWeb Jun 15, 2005)

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