PayPlus® is pleased to now offer reasonable priced Section 125 Plans for the small to medium sized business owner.
The IRS Code has numerous pre-tax provisions designed to help employers provide benefits to their employees. This saves the employee approximately 30% on their taxable income, and the employer realizes a reduced matching payroll tax savings of approximately 8%. Everybody saves money!
To take advantage of these tax deductions, the IRS requires that the employers provide a written plan document and ERISA law requires that the employee receive a summary plan description (SPD) explaining the new benefits.
Plans can be HSA (Health Savings Accounts), FSA (Flexible Spending Accounts), or HRA (Health Reimbursement Accounts).
IMPORTANT: Many small employers take insurance premium and medical expense reimbursement deductions without formal Plan Document and Summary Plan Descriptions as required by the IRS Code. The penalty for non-compliance may include disallowance of all deductions, and payment of interest and penalties.
To choose a plan today go to: www.FlexAffiliates.com/plan/PayPlusLLC