AboutShirley McAllister, CPP, PHR Expertise I can answer payroll questions, payroll tax questions, 401K questions. No stock option questions please and I have some knowledge of other pensions but am most familiar with the 401K pension.
I can answer U.S.and Canada payroll questions proficiently and have a good general knowledge of UK and South Africa and some knowledge of Australia and New Zealand Payroll procedures.
Please do not ask me homework questions I do not have time to answer them.
Experience 25 years with an international company in the Human Resources, Payroll and Payroll Tax areas.
Organizations SHRM, APA, I.O.M.A.
Publications I.O.M.A. and BNA
Education/Credentials P.H.R., C.P.P., Canadian Payroll Administrator, Successfully passed APA class on UK Payroll Administration.
Boise State University Human Resource Certification
Awards and Honors APA Hotline Citation of Merit for last 8 years.
Question I work for a small company. 3 of us (out of 6) have opted for the HSA insurance option with BCBS. My employer doesn't know what to do. How does she note the contribution on our paycheck stubs? Her CPA has no experience at all with HSAs.
Answer An HSA is a tax-exempt trust or custodial account used exclusively to pay qualified medical expenses of the employe4 who must be covered under a high deductible health plan.
First of all the deduction needs to be made from the gross before taxes are withheld. Taxes are withheld on the balance after the FSA is deducted. The amounts deducted for HSA do not show as wages on the W-2 form.
The checkstub would show an item line for the HSA deduction. Your employer needs to add a payroll code to her payroll system or if she is doing it by hand to write it on the check. It would simply say
FSA......$_____. The amount of the HSA would be in the blank spot.
More information on the HSA may be found on the IRS site in (IRS Notice 2004-50).
There are specific rules for who is or is not eligible and what expenses are eligible.
