Budget Divas

Maximizing Your Take-Home Pay: Saving Money on Taxes By Investing In Your Benefits - With Mislyn Alensonorin

April 05, 2023 Jenn Trinidad Episode 61
Budget Divas
Maximizing Your Take-Home Pay: Saving Money on Taxes By Investing In Your Benefits - With Mislyn Alensonorin
Show Notes

Ep #61: In today’s podcast, we are talking about maximizing your compensation package. Whether you work for a small family-owned company or a big corporation, do you know what your employee benefits are and are you taking advantage of not only the wellness benefits but also enrolling in benefits that can save you money on taxes? 

In today's competitive job market, companies are recognizing the importance of offering comprehensive employee benefits packages as part of their overall compensation package. Employee benefits are non-wage compensation provided to employees in addition to their regular pay. They are designed to enhance the well-being, satisfaction, and productivity of employees. 

Today my guest is Mislyn Alensonorin of Vantaggio HR. She is the Manager of Hawaii Operations and Sr. HR Consultant She is responsible for providing human resource and management consulting to companies of all sizes. Some of Vantaggio's services include recruitment, compliance, employee handbooks, compensation, employee benefits, training and organizational development.

Highlights from the show:

  1. Health Savings Account (HSA): Employees who are enrolled in high-deductible health plans can contribute pre-tax dollars to an HSA to pay for qualified medical expenses.
  2. Flexible Spending Account (FSA): FSAs allow employees to set aside pre-tax dollars to pay for eligible medical expenses or dependent care expenses.
  3. 401(k) or other retirement plans: Contributions to retirement plans are generally tax-deductible for employees, and earnings on the contributions are tax-deferred until they are withdrawn.
  4. Employee discounts: Some employers offer tax-free employee discounts on products or services offered by the company.

These are just a few examples of the many tax-saving benefits that employers can offer to their employees as part of their compensation package.

After you listen to this podcast, don’t forget to get a copy of your employee handbook from HR so you can review your benefits and make the necessary changes. 

To learn more about Vantaggio HR, click here: https://vantaggiohr.com/vhr-hawaii/


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