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Can employers office group life insurance to employees on a pre-tax basis?
Wiki User
∙ 16y ago
If I'm understanding the question correctly, then yes, employers can deduct premiums for group life insurance on a pre-tax basis.
Wiki User
∙ 16y ago
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What is pretax FEHB incentive?
The Pretax FEHB incentive is to ensure a high reputation for employees and clients. They specialise in safety and ensuring everyone is a happy customer with absolutely no complaints.
Is employee paid life insurance pretax?
no they will take it out when you start receiving your check.in retirement
Can a temp agency refuse to cancel your insurance because of federal pretax?
yes , for 47 states out of 50, in America
What is Pretax Group's population?
Pretax Group's population is 1,100.
When was Pretax Group created?
Pretax Group was created in 1944.
If you pay for your group life insurance through your employer on a pretax basis and name your husband as beneficiary are the proceeds taxable because you paid for the benefit with pretax dollars?
Insurance proceeds are non-taxable funds no matter how the premiums are paid. In Michigan, insurance proceeds received by a spouse,and only a spouse, are also excluded from household income for the Michigan Homestead Property Tax Credit.
Is disability insurance premium allowed as a pretax deduction in Ohio?
The pretaxing of disability premiums is a decision made by employers when setting up Section 125 benefit plans. There are three possible configurations: pretax only, after tax only, or employee chooses. When the premium is paid pre-tax the benefit becomes taxable when an employee is disabled. The employer and employee would both have a FICA or payroll tax obligation for the benefit paid. The insurance company may issue a 1099 statement for the benefits. There is no Ohio law changing the IRS guidelines on this topic that I am aware of.
What are the cost advantages of choosing group insurance over individual insurance?
The cost advantages of choosing group insurance over individual insurance include discounted prices, group benefits, and coverage for families/dependents. The other benefit is that you can pay pretax.
Does pretax need to be hyphenated?
The word pretax can be used either with or without a hyphen.
Can you deduct insurance premiums on taxes?
Depends on how you paid the premiums. If you paid the premiums on a pretax basis, then you cannot declare the premiums. Many COBRA payments, retiree insurance payments and so on can be deducted.
Can you deduct group insurance premiums on taxes?
Depends on how you paid the premiums. If you paid the premiums on a pretax basis, then you cannot declare the premiums. Many COBRA payments, retiree insurance payments and so on can be deducted.
What is the FICA tax liability status of pretax contributions to qualified deferred compensation arrangements?
They are subject to FICA tax like any other wages. However the employers' matching contributions are tax-free.
