If you give cash as a wedding giftâ¦. 1  Always enclose it in a nice card with the appropriate personal note, wedding wishes, and congratulations to the happy couple.  If you choose to give cash as a gift card, opt for cards at stores the couple prefers and cards without expiration dates or monthly fees.
Cafeteria-style plans provide a special exception to federal income tax rules that apply to an employeeâs earnings. In a cafeteria-style plan, employees are allowed to select among various nontaxable benefits and cash. Benefits to Employees. In a cafeteria-style plan, an employee generally receives a certain number of dollars from the employer to purchase particular elements of a benefits plan. This enables employees to purchase benefits, such as health insurance, with pretax dollars.
Cafeteria plans are funded by employee salary reduction, much like 401(k) plans. This means a portion of each paycheck is diverted to the plan, reducing the employee's gross income for the year. Unlike a traditional 401(k) plan, cafeteria plans provide benefits to employees before retirement. In addition, while tax-deferred contributions to 401(k) and other qualified retirement savings plans are still taxable in the year they are withdrawn, some benefits received through cafeteria plans are fully tax-exempt.