Welcome to a world where you have the power to take control of your financial future!
Are you tired of watching a significant portion of your hard-earned income disappear into the depths of FICA taxes? We understand, and we’re here to guide you on the path to savings. Discover how you can keep more money in your pocket by unlocking the strategies to minimize your FICA tax burden.
Reduce Your FICA Spend
On average employers will save $700 - $800 per employee they have on payroll.
Increase Your Employees Pay
Employees will see an extra 4% - 6% on their pay checks!
Medical Benefits For Employees
Employees can access to top tier Virtual Care, no co-pay RX, and much more.
Financial success of any person or organization
WHAT WE DO!
Achieve results with modern strategies
Before we delve into the strategies for saving on your FICA taxes, let’s get a clear understanding of what FICA taxes are. Federal Insurance Contributions Act (FICA) taxes fund Social Security and Medicare programs. As of 2022, the FICA tax rate is 15.3%, with 12.4% allocated to Social Security (up to a certain income limit) and 2.9% for Medicare. The more you earn, the more you contribute – but there are legal and ethical ways to minimize this impact.
Did you know that how your salary is structured can impact the amount you pay in FICA taxes? By exploring strategic salary structuring, you can potentially reduce your taxable income subject to these payroll taxes. Our experts will guide you through legal and effective methods to optimize your salary arrangement, helping you keep more of your earnings.
Another powerful tool in your arsenal for FICA tax savings is leveraging pre-tax benefits. From employer-sponsored retirement plans to flexible spending accounts (FSAs) and health savings accounts (HSAs), discover how contributing to these accounts can not only secure your financial future but also lower your taxable income, thereby reducing your FICA tax liability.
If you’re self-employed, there’s a unique opportunity to supercharge your retirement savings while minimizing FICA taxes. Learn about the Solo 401(k) – a retirement plan tailored for self-employed individuals. This tax-advantaged account allows you to make both employer and employee contributions, providing a double benefit by reducing your taxable income and your self-employment tax.
The Vision
Our goal is to assist business owners in saving money while establishing themselves as a “preferred” employer by providing enhanced pay and medical benefits to their employees. This program not only grants employers a competitive edge in their industry but also proves instrumental in recruitment and retention efforts.
Tax Savings Calculator
Calculate Your FICA Tax Savings.
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CONTACT US
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FAQ
Common questions
How does it work ?
Embracing Health goes beyond the ordinary Section 125 program!
Employees will notice two additional entries on their paycheck. Firstly, the pre-tax premium, effectively lowering the taxable income for the employee. Secondly, the indemnity claim payment, rewarding employees actively participating in this program. The outcome of these dual components is not only savings for the employer but also a tangible boost in net pay for the employee.
Employees will notice two additional entries on their paycheck. Firstly, the pre-tax premium, effectively lowering the taxable income for the employee. Secondly, the indemnity claim payment, rewarding employees actively participating in this program. The outcome of these dual components is not only savings for the employer but also a tangible boost in net pay for the employee.
Is this compliant ?
Encompassing Health stands out as the sole Section 125 program to receive individual approval from the Department of Insurance in all 50 states. Furthermore, it is supported by a carrier with an A+ rating, ensuring the highest level of reliability and trustworthiness.
How do I get started ?
Upon selecting the “apply now” button on this page, you’ll be guided to complete a brief application. Following the submission of your application, our team will promptly get in touch to address any inquiries you may have. Once your questions have been clarified, we’ll proceed to finalize contracts and kickstart the implementation of this program.
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