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100 WAYS: #29 Cash in on Employee Benefits
– June 21, 2010
Give your employees a raise by implementing a Section 125 cafeteria plan.
A cafeteria plan reduces compensation by the cost of medical expenses not covered by insurance including health insurance premiums, child care and elderly care and certain pharmaceutical expenses.
The employee and employer will save on income taxes and social security taxes. You get to give a benefit to your employees and save the company money at the same time.
Walker Coburn
318.429.2109
wcoburn@hmvcpa.com
Walker is a Senior Auditor in our Shreveport office. He received his Bachelor of Administration in Accounting and a Masters of Accountancy from Millsaps College in Jackson, MS. Prior to returning to his hometown of Shreveport and joining Heard, McElroy & Vestal, Walker worked for KPMG in Jackson and Memphis, and more recently as a financial reporting advisor for FedEx Corporate.
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