Gerry Magid - Vantaged Solutions 

Found Money in the Payroll: Tax-Advantaged Benefits and SIMERP Plans for Nonprofits

DESCRIPTION
Health insurance costs keep climbing, and nonprofit budgets don't stretch to match. Yet many organizations are leaving real money on the table every pay period. In this session, Gerald Magid explains how tax-advantaged benefit structures work, including Section 125 cafeteria plans and Self-Insured Medical Expense Reimbursement Plans (SIMERPs). You'll see how these plans can lower employer FICA costs, often by hundreds and hundreds of dollars per employee per year, while giving staff preventive care and virtual health access with no copays or deductibles. Gerald will also cover what the IRS has said about these arrangements, what separates a compliant plan from a risky one, and the questions every finance leader should ask before signing on.

BIO
Gerald Magid is the founder of Vantaged Solutions, which helps businesses, nonprofits and their employees thrive through tax-advantaged employee benefit programs. He works with CFOs, executive directors and their advisors to reduce payroll tax costs, strengthen benefits packages and improve staff retention without adding to the budget. During the Employee Retention Credit program, Gerald helped businesses and nonprofits recover more than $10 million in refunds, including staying with one home nursing agency through a two-year IRS moratorium until close to a quarter of a million dollars arrived. He does the vetting before he brings anything to a client, and he stays with them through the complicated parts.

Topic: Not For Profit Meeting
 

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