Payroll Tax Savings Plan - An Alternative to the 2019 Loss of Personal Business Deductions

Overview:

In a 60-minute review Michael will cover the history of this tax law benefit and how it has changed. He will illustrate the new Third-Party-Administrator (TPA) methodology for 2019 and beyond to benefit Employers and Employees.

This can be done by adding this "turn-key outsourced" solution to your payroll further enhancing your benefits package.

The TPA (creator) of this plan is the ONLY group to receive a Private Letter Ruling from the IRS outlining their plan and how it is the only IRS compliant plan. The IRS came out with a Revenue Ruling (RR-2012-25) on Sept 14, 2012. Now this is the Law of the Land.

In the IRS Annual Guidance Sheet, the Plan and the Revenue Ruling are shown as the only recognized compliant plan structures.

Why should you Attend:News Flash! Employees Can No Longer Deduct Business Related Expenses on Their Year-End Tax Return!!! Effective January 1st, 2018 the new tax plan eliminates unreimbursed employee businesss expenses for their taxes! These Employees spend Hundreds to Thousands of Dollars on their job to benefit their employer and now cannot even deduct these expenses on their year-end tax return!

Cell Phone.
Uniforms,Tools and Supplies.
Association Fees/union Dues/Certifications.
Home Internet and Mileage .
The great news!.
The new Tax law still allows employer accountable reimbursement plans!.

This is the only way to a W2 employee can deduct expenses. Bottom line there is no cost to the employers or employee; they both win!

Areas Covered in the Session:

• History of the Tax Laws
• How the Plan came to be
• Guidelines for Utilization
• Paycheck Administration Collaborators
• Examples of Deductions
• Employer-Employee; A Win-Win
• Endorsements
• Examples of Success
• Industries on Board
• Availability - Contact Info

Who Will Benefit:

• CEO's/COO's/ HR Directors/Payroll Administrators
• Business Owners
• HR Administrators
• Managers of all Levels
• Union Officials
• Municipalities and County Governments
• Any Business that Employs Staff Full Time
• Hospitals-MD Offices-Surgery Centers
• Consultants

Instructor:

Michael Cilella, MBA is an independent Senior Benefits Consultant licensed in Life & Health Insurance and Annuities. Currently he is working with companies helping them structure their benefits packages.

He most recently was involved in the development of the country's first ever (2019) Association Health Plan for a 500-business member chamber of commerce. With his MBA concentration on Finance and Business Management he has 6 years in the Insurance Benefits market. Prior to this role, Michael has 32 years experience in the Pharm- Biotech/Medical industry in role as a Trainer, National Accounts Manager, Hospital Rep and Oncology Biologics Sales.