Tomorrow Solution Insurance Group

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Tax Saving

There are real tax savings for the employer and the employee

How do both the Employer and Employee benefit?

Employer/Owner:

  • The employer will save 7.5% for FICA on each employee pre-tax deduction.
  • The more the employees spend on benefits that are pre-tax, the more the company will save on FICA Tax at the end of the year.

Employees:

  • Employee will save on taxes from most benefits that are deducted on a pre-tax basis from their paycheck.
  • The savings usually run around 20% Tax bracket of the total cost of most benefits for a middle class employee.

Did you know?

Why using TSI for all your insurance needs?

The advantage of having good benefits

What is a real cost of replacing a good employee?