What company deductions are supported?

Retirement Plans

We support Retirement Plans that offer both pre-tax and post-tax (Roth) contributions. With pre-tax contributions, the amount to be contributed by the employee to the retirement plan is calculated and deducted from the employee's gross wages before taxes are calculated. With post-tax (Roth) contributions, the amount to be contributed by the employee to the retirement plan is calculated on the employee's gross earnings, but the deduction takes place AFTER taxes are calculated. We also support single and two-tier company matching and contribution options.

Retirement Plan deduction types:

401(k)
403(b)
Safe Harbor 401(k)
Simple 401(k)
Simple IRA
SEP (Simplified Employee Pension) IRA

Pre-Tax Insurance Premiums

Taxable wages for all taxes, with the exception of some state unemployment wages, are reduced by the deduction amount based on the employee income tax and unemployment states.

Pre-Tax Insurance Premium deduction types:

Dental
Medical
Miscellaneous
Vision

Post-Tax Deductions

Post-tax deductions will not reduce employee taxable wages.

Post-Tax deduction types:

Dental
Life
Medical
Miscellaneous
Vision

Flexible Spending Accounts (FSA)

A Flexible Spending Account (FSA) is a tax-advantaged, employer-maintained savings account that allows for tax free savings to employees on qualified expenses. We support 4 types of FSAs.

FSA deduction types:

Dependent Care
Medical
Parking
Transportation

Health Savings Accounts (HSA)

HSA is an employee deduction toward an employer-maintained Health Savings Account (HSA) plan for employees with a high-deductible health plan (HDHP). Employees who do not have HDHP coverage are not eligible for HSA contributions. If a company matches an employee's contributions, matching contributions can only be made through a Section 125 plan. Non-discrimination rules apply.

IMPORTANT: Employees must have an HSA-qualified health insurance in place by December 1st in order to qualify for a tax break for the year.