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.
By providing benefits under a cafeteria plan, an association can provide its employees with a mechanism to avoid taxation of the employer-provided benefits. What's offered in a cafeteria plan? Why not provide a built-in cafeteria plan by giving all individual taxpayers a deduction above their adjusted gross income for health-insurance premiums, and deduct premiums from their FICA base as well?
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contributions to 401(k) and other qualified retirement savings plans are still taxable in the year they are withdrawn, some benefits received through cafeteria plans are fully tax-exempt.