- 596
I already wasted an hour and a half this morning sparring with an accountant for one of my small groups. We want to put in a Premium Only Plan to let the employees pre-tax their group health premiums. The account came back and said this isn't a good idea, it will create an administrative nightmare.
I've done this many times, all we are creating is a summary plan description that will be update by a third part annually. The business only has to pass them out to three people. Because there are under 100 employees, no 5500 form necessary. The employer pays $200 the first year, $50 after to keep it updated. He saves over $1000 annually in payroll taxes. The employees also save the same in total. Should be a done deal.
The employer is loosing trust in me because the accountant is making his life a hassle, he called three times yesterday warning him about the administrative nightmare and that I'm just looking for extra commission. I don't even get paid on these plans! Has anyone else found accountants to be extremely distrusting?
I've done this many times, all we are creating is a summary plan description that will be update by a third part annually. The business only has to pass them out to three people. Because there are under 100 employees, no 5500 form necessary. The employer pays $200 the first year, $50 after to keep it updated. He saves over $1000 annually in payroll taxes. The employees also save the same in total. Should be a done deal.
The employer is loosing trust in me because the accountant is making his life a hassle, he called three times yesterday warning him about the administrative nightmare and that I'm just looking for extra commission. I don't even get paid on these plans! Has anyone else found accountants to be extremely distrusting?