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Section 125 Plans
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Contact
Us
ALLTIME
Integrated
Payroll
Services, Inc.
200 Stonewall Blvd
#3
Wrentham,
MA 02093 (508)
384-7900
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The best of both worlds for the Employer & Employee
A
section 125 plan is an employee benefit plan, authorized by
Section 125 of the Internal Revenue Code, which allows
employees to redirect a portion of their salaries into the
plan on a PRETAX basis. This can provide significant tax
savings for both the employee and employer.
•Through
a simple payroll deduction, your employees can pay for the
following on a PRETAX basis.
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Dependent Care Expenses such as child care or adult
dependent care.
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Un-reimbursed Health Expenses such as deductibles and
coinsurance, medical and dental expenses.
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Group Insurance Premiums (Premium Plan) includes medical,
dental disability and term life.
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Employer Benefits
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Reduction of payroll related costs
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NO Social Security Taxes (FICA)
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NO Medicare Tax
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Lower Workers' Compensation Premiums
Employee Benefits
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Reduction of payroll related costs
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NO Social Security Taxes (FICA)
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NO State Income Tax
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NO Federal Income Tax
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NO Medicare Tax
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Three types of Section 125 plans exist: Premium Only,
Flexible Spending Accounts,
and Full Cafeteria Plan. Money allocated to a Section 125
Plan is subtracted from the employee's taxable income. It is
also free from employer-paid Social Security and
Unemployment taxes.
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To find out more call
(508) 384-7900 ext 22
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Copyright 2006 ALL-TIME, Inc. |
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