Df Insurance

The pre-tax premium deduction is the deduction applied to the gross income of an employee, thereby lowering their taxable income. When taxable income reduces, the amount employees owe to local, state and federal taxes lowers as well. One of the main goals of making certain pre-tax payments is to help employees plan ahead for various life events, such as retirement, medical expenses, etc. Usually, many of these benefits are employee and employer-sponsored. This means both parties contribute to whatever premium, account, or program the employee has.  What are the different types of payroll deductions? There are two types of payroll deductions:Involuntary or mandatory deductions- This include taxes, wage garnishments and fines;