Small business owner on a budget?

These employee benefits won’t break the bank

Before you can start building your aspirational list of employee benefits, first you must meet certain federal and state requirements. Here are the employee benefits you must provide:

Company tax payments are a business expense. Firms must also withhold the employee’s share of tax payments from gross pay.

Social Security taxes

Unemployment insurance pays a benefit to workers who are laid off. Both states and the federal government manage unemployment programs, which are funded by a tax on businesses.

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Unemployment insurance

Several states and territories require that businesses provide partial wage replacement insurance to eligible employees for non-work related sickness or injury. These programs are also referred to as short-term disability plans.

Disability insurance

While not required by federal or state law, it is common for employers to provide some standard benefits for their employees. Offering benefits directly impacts your employees’ sense of well-being, which may impact your staff’s work performance.

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