Questions tagged [benefits]

Questions regarding employment benefits such as Health Spending Accounts, Retirement plans and other financial concerns in compensation packages.

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How to value benefits and pension?

I recently started a job with several benefits including health and dental. It also has a pension. For various reasons I do not think I will be staying at this job very long. One reason is the base ...
BenderPiece's user avatar
1 vote
0 answers
95 views

Counter-intuitive distribution of Child-Care Assistance in New Mexico, USA: Would my family be better off earning less?

My understanding of how NM's child-care assistance program works is that my family would be financially better off if our income were lower. I'm hoping someone can explain why I'm wrong. Eligibility ...
Peter Davenport's user avatar
1 vote
0 answers
38 views

FSA - prepay installment plan for orthodontics - okay on flexible spending account?

Let's say $2,000 is still owed on an orthodontic payment plan which is set to have monthly payments of $250/mo. Assuming there is $2,000 left available on an FSA, can it be used to pay off the rest? ...
g491's user avatar
  • 145
-1 votes
1 answer
43 views

Do non-revenue flight tickets incur tax liabilities on the individual who obtained or used the ticket in the United States?

Airline employees often have access to so-called non-revenue flight tickets, for themselves or their surroundings. Do non-revenue flight tickets incur tax liabilities on the individual who obtained or ...
Franck Dernoncourt's user avatar
13 votes
2 answers
3k views

Employer tax benefits of 401k matching vs salary increase

I was trying to understand why a company would offer 401k matching instead of higher salaries to employees. I read that some states require companies to offer retirement things which makes sense. One ...
roobee's user avatar
  • 265
1 vote
2 answers
134 views

Is it better to have non-employer-related pet insurance if you anticipate leaving the company?

Logically, pet insurance coverage/premiums are more expensive the older the pet is when it is enrolled (higher risk factors associated with age, no preexisting conditions, etc...). I currently have my ...
Runeaway3's user avatar
  • 2,844
2 votes
2 answers
97 views

Tax Implications of employee education assistance reimbursement the following year

The company I work for offers an Educational Assistance Plan and I took classes over the Spring and Fall semesters of 2021. The company requires final grades before reimbursing the expense and so I ...
amccormack's user avatar
1 vote
2 answers
1k views

lifetime orthodontic maximums, do they reset if I leave to another insurance plan and come back a couple years later?

I had orthodontic work done on my son for a phase 1 and used some of his orthodontic lifetime benefits from insurance A. After he was done with phase 1, I changed to insurance B for a couple years. (...
shaheen chaklashia's user avatar
4 votes
2 answers
360 views

Which insurance is primary when you have coverage through two employers?

If someone has health insurance coverage in the U.S. through two separate employers, which is considered primary for the coordination of benefits? How is this determined?
Daniel's user avatar
  • 5,300
2 votes
1 answer
38 views

With a Dependent FSA, are expenses incurred in the current calendar year, but before mid year enrollment eligible?

In the United States with a Dependent FSA, are expenses incurred in the current calendar year but before mid-year enrolment eligible? e.g., if I enroll in November for the 2021 calendar year, are ...
MonkeyBonkey's user avatar
2 votes
0 answers
23 views

Are state disability benefits taxable in tax year when you were eligible for them, or approved for them, or when benefits were actually paid?

Imagine that someone gave birth on November 5th, 2020. California allows moms to take off up to 8 weeks of disability insurance benefits. Are such state disability insurance benefits taxable in 1) tax ...
user4910112's user avatar
0 votes
1 answer
233 views

Employment Insurance (EI): Total Insurable Earnings vs Weeks of Entitlement

If one's Regular Weeks Entitlement for the EI is 50 weeks, but the Total Insurable Earnings amount is about $15,000 then does this mean that the EI payments would stop once the $15,000 has been paid ...
sequence's user avatar
  • 227
4 votes
6 answers
833 views

Is 50K Salary Jump Worth No 401K Benefit

I currently make $75K and my employer offers a 3% match on my 401K. I have now been offered an exceptional job making $120K but there is no retirement plan offered. In CA by 2022 all employers will ...
ady79's user avatar
  • 41
2 votes
0 answers
94 views

What will I lose if US employer switches me to working for a foreign company?

I'm a dual citizen having grown up in the US, but working and residing outside of US for 20 years. I have worked for my US-based employer for 10 years during which time I've been paid in the US with ...
Lynne's user avatar
  • 21
4 votes
1 answer
139 views

Claiming UK benefits with a SIPP/ISA

I am ask for a friend, who is expecting hard times soon. My friend is not computer literate, and I know nothing of the UK benefits system. The best information I can find is How do savings and lump ...
Sam Fox's user avatar
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1 vote
1 answer
51 views

Workplace benefits: negative expense, or different category of income?

I have two concrete examples that I'm curious as to how people would account for them. note that I live in Germany so so rules might be different elsewhere Mandatory Health Insurance Benefit At the ...
Scott Muc's user avatar
  • 263
2 votes
2 answers
75 views

Taxes regarding relocation - Final Move/Travel

If my spouse and I both get relocation package from different employers, and both employers cover the final move/travel (from current address to out-of-state new address) for 2 of us, can each one of ...
user12562215's user avatar
1 vote
0 answers
67 views

Retroactive benefits cut

My company just announced that they will no longer award paid time off or sick leave, effective 15 days before the announcement. I’m concerned that such a change may not be legal. I am paid monthly. ...
user98288's user avatar
1 vote
0 answers
116 views

Employee benefits not signed up by hr

I enrolled in life insurance for myself and my husband on hire and open enrollment. He now has passed away. The life insurance company said hr never enrolled him. So no policy. Do I have any recourse? ...
Farr Kimberly's user avatar
0 votes
2 answers
46 views

Whether a Non-Immigrant visa holder is eligible for unemployment benefit?

Whether a Non-Immigrant visa holder is eligible for unemployment benefit? Due to COVID-19/ Economy shutdown, delays my job hunt approach. I wonder, whether i am eligible for unemployment benefit in ...
goofyui's user avatar
  • 1,117
0 votes
1 answer
73 views

401K Enrollment Benefits

I have enrolled in my 401K plan from 2016 onward. While looing into the investment portal, right now I am having only 68K but I contributed for 69K. Is it still worth in enrolling 401K? If I invested ...
Test's user avatar
  • 129
1 vote
1 answer
232 views

Sweden: Tax in Sweden on Income from the US

Hej, During 2019, I've worked in Sweden for 9 months and temporarily in the US for < 3 months (during which I requested unpaid leave from my normal Swedish employment). I am aware that I need to ...
ojke83's user avatar
  • 11
2 votes
1 answer
39 views

Does electing to file a joint return abroad (US citizen with retired alien) eliminate tax due on alien's Soc Sec benefits?

My husband and I are retiring in France. Both of us have US Social Security benefits due us. I am a US citizen, spouse is a non-resident alien. If we elect to file a joint 1040 so that he is treated ...
Jiglet's user avatar
  • 21
0 votes
1 answer
153 views

Why don't companies systematically offer ESPPs that offer stock options (instead of stocks)?

I read on https://fairmark.com/compensation-stock-options/employee-stock-purchase-plans/overview-of-employee-stock-purchase-plans-espps/ (mirror) in the context of employee stock purchase plans (ESPP) ...
Franck Dernoncourt's user avatar
0 votes
1 answer
73 views

Why would you prefer employer to pay all non-taxable benefits and you pay for the benefits that are taxable if your employer pays them?

Tax Planning for You and Your Family 2019 by KPMG. p 153. 10.1.1 Non-taxable employment benefits Certain employment benefits are not taxable, even though many of them are deductible expenses ...
user avatar
2 votes
2 answers
212 views

How to claim Commuter Parking funds?

I have funds locked into a Commuter Parking account (withdrawn from my bi-weekly pay on a pre-tax basis) that I will never use. Typically, these funds can only be used on work-related parking expenses....
Canbo's user avatar
  • 525
3 votes
1 answer
238 views

Erroneously used child's birth instead of loss of insurance as QLE, double paid insurance for same month

Quick backstory: My wife is a teacher and we were getting our health/dental/vision from her work. When we got pregnant with our second child, we decided she wouldn't go back to work after the baby ...
Andrew's user avatar
  • 193
2 votes
1 answer
99 views

Impatriate Tax Regime

I will be moving to Luxembourg soon and just got to know about this tax regime for expatriates in Luxembourg. I think I am qualified for this regime because I will be getting a European Blue Card once ...
Chirag Arora's user avatar
3 votes
1 answer
57 views

UK Tax/Universal credit pension contributions for non earning partner

I understand that any pension contributions made by someone claiming tax credits or universal credit are deducted from the claimants earned income when assessing the amount a claimant is eligible for. ...
rdans's user avatar
  • 357
5 votes
1 answer
159 views

How is 'death in service' benefit funded? Does the employer benefit?

In the UK many employers offer a 'Death in Service' benefit of (for example) 4x annual salary (e.g. £80,000 if the person was earning £20,000) payable if the employee were to die whilst employed by ...
user81798's user avatar
  • 271
1 vote
1 answer
152 views

Can my grandfather receive money in the state of Wisconsin if he's unemployed?

Please read entire post before answering. Hello! My grandfather has lived here in the U.S for the past eight years. He immigrated here in 2010 and does have a green card (no citizenship). He also has ...
user9760's user avatar
  • 111
0 votes
1 answer
57 views

Can W2 salary be negotiated when removing healthcare plan?

As a W2 employee, I will get $4,500/mo plus benefits. One of the benefits is that they will pay half the healthcare plan that I select from the options available. In my case, it's about $400, so I pay ...
Meyers's user avatar
  • 47
2 votes
1 answer
96 views

Financial benefits of installing EV charger for landlords and employers

This question is based on the location: Vermont, USA. A lot of information regarding federal tax benefits are available online for Electric or Hybrid car owners. However, I am interested to know if ...
skr's user avatar
  • 123
2 votes
2 answers
117 views

Health Care Benefits Gift?

A friend of mine has opened a company that allows a person to use their health care benefits for things like Orthotics and Compression Stockings but they also give you a free "gift" (something like a ...
Anon's user avatar
  • 21
0 votes
1 answer
448 views

Sweden: Base salary with taxable benefits

I am discussing a job offer in Sweden and has been offered a base salary with taxable benefits added on top of that. I am happy with the take-home amount but I have the following concerns: What sort ...
Priyath Gregory's user avatar
1 vote
2 answers
435 views

My medical insurance from my employer is extremely high. Could there be a possible mistake?

I am 26 years old and recently my employer changed to another insurance provider agency and the price went up ridiculously, at least for me. At this company the employer pay 50% of the insurance cost. ...
Nhat Quang Pham's user avatar
3 votes
2 answers
137 views

What happens if my primary and one of my contigent beneficiaries pass away? How are percentages disbursed?

When updating my benefits, how should I assign beneficiary percentages? The way I have it setup currently is: Spouse: 100% / Primary Child-1: 34% / Contingent Child-2: 33% / Contingent Child-3: ...
MrDuk's user avatar
  • 1,371
4 votes
1 answer
159 views

Spouse termination documents affecting insurance

A little background: my wife recently changed jobs and is now working part time with a new employer. I want to add her to the health plan I have with my employer, but was told I need confirmation that ...
Frostbyte's user avatar
1 vote
1 answer
6k views

Can corporate insurance coverage continue even after resigning?

While working at a company in India, I was covered by a corporate insurance policy. Also, I was asked to pay the annual premium for including my parents to the policy. In December, I had to resign ...
Prem's user avatar
  • 299
3 votes
1 answer
342 views

How long after a US serviceman is killed would the family receive the 100K death benefit?

Under ordinary circumstances how soon after a serviceman's confirmed death would the family actually have the 100K to use for expenses? (My understanding that this 100K is in addition to life ...
BobE's user avatar
  • 688
24 votes
2 answers
5k views

Parents want to claim me

I just turned 19 so I'm a legal adult. I moved out of mothers due to neglect and abuse, but still remain somewhat friendly with her. However, she texted wanting to know if she could claim me on her ...
Porixify's user avatar
  • 387
1 vote
1 answer
142 views

Do I lose potential tax benefits by using my employer's tuition assistance program?

Let's say I plan on attending graduate school part-time and that I am currently employed full-time at a company that offers full tuition reimbursement for graduate school with the catch that I must ...
Ethan's user avatar
  • 418
9 votes
2 answers
663 views

Can an employer change 401(k) rules to exclude part-time employees who previously participated?

I currently participate in a 401(k) at my work. I am classified as a part time employee with accruals but no benefits currently. For next year, my classification is the same, but now work is not ...
star's user avatar
  • 91
9 votes
1 answer
254 views

Should my wife stay un-benefited during pregnancy?

We just found out my wife is pregnant. She's in the process of switching her employment status to what they call per diem, meaning she's not technically a full time employee, although she can (and ...
MrDuk's user avatar
  • 1,371
2 votes
3 answers
842 views

When should both spouses get benefits from their jobs?

My wife and I get medical, dental, and vision benefits through her job. Generally we've been pretty satisfied with them. Now for the first time, my job is offering health, dental, and vision as well. ...
Shawn V. Wilson's user avatar
6 votes
2 answers
237 views

Self maintain my 401(k) if company offers no benefits?

I am switching jobs. My previous job offered a 401(k) plan and I contributed through payroll. My new company literally offers "no benefits at all" meaning no 401(k), healthcare, etc. How can I still ...
user avatar
1 vote
2 answers
486 views

How do I compare two salary offers with and without benefits?

Can you please help me with the following reasoning? case A) Full time (W-2) employee, in IL state, with gross salary: 140k 140k divided by 2080 gives ~ $67/hr gross. In this case benefits are ...
pebox11's user avatar
  • 153
3 votes
2 answers
435 views

What tax percentage will I pay on this benefit in kind?

I live and work in the UK I'm confused at the amount of the tax I will have to pay on this benefit in kind. Say I earn £50k, and have a benefit in kind for travel which is £2000 (for a yearly season ...
user55067's user avatar
0 votes
1 answer
504 views

Small business: offering an FSA without an administrator

I work for a very small company (only 2 other employees) that pays well but offers no benefits. I'd really like my employer to offer me a Dependent Care FSA. I'm sure he'd agree as long as it 1) doesn'...
firstmute's user avatar
4 votes
2 answers
258 views

How do I estimate the value of employer-provided job benefits, for comparing compensation?

I'm trying to put a number on the benefits (health insurance, dental insurance, 401k match, etc). that my job provides. I'm looking at a career move and would like a total compensation number for ...
T. Thomas's user avatar
  • 383