Are you manually calculating the imputed income tax on life insurance premiums?


Are you manually calculating the imputed income
tax on life insurance premiums? If you provide Group Term Life Insurance to
your employees as a benefit and the coverage amount exceeds $50,000, then the premium on
the coverage amount in excess of $50,000 is a taxable benefit otherwise known as imputed
income. Hi, I’m Dan with Integrity Data, a Microsoft
Dynamics GP Payroll software provider. As you know, this calculation is painful and
you’re probably doing it at the end of the year to catch up the employee records. Here’s a better idea: with Integrity Data’s
Life Insurance Tax Calculator, you can let the system automatically calculate the tax
on the imputed income each pay period. If the premium changes, due to an employee
birthday or pay change, Life Insurance Tax Calculator will automatically update the premium
and the tax. Rely on Integrity Data for a purchase, implementation
and support experience that is second to none! For product demonstration videos, FAQs and
value calculators, please visit www.integrity-data.com or call 888-786-6162.

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