Employee Benefits


The Institute endorsed the SIMPLE Cafeteria Plan Act of 2005 (S. 723), a bill that would allow small businesses to provide nontaxable benefits, such as flexible spending accounts, to their employees ( http://thomas.loc.gov ) as large companies and government agencies now do. In addition, the proposed legislation would allow cafeteria plans, which permit employees to customize their benefits, to offer long-term-care insurance, and it would simplify and expand dependent care accounts. Introduced by Sen. Olympia J. Snowe (R-Maine), the bipartisan bill was co-sponsored by Sens. Jeff Bingaman (D-N.M.) and Christopher S. Bond (R-Mo.).

SPONSORED REPORT

The technology assessment engagement

Are you working with the best technology? Do you know how to help your clients determine if their technology stack measures up? In this free report, J. Carlton Collins, CPA, explains how to answer those questions via a technology assessment engagement.

FEATURE

Maximizing the higher education tax credits

A counterintuitive strategy can save taxes by including otherwise excludable scholarships in gross income.