Pre-tax Payroll Deductions
While you are an employee of Pacific NetSoft and
a consultant, you can pay for your benefits before
taxes are withheld using a special Section 125 "pre-tax"
payroll deduction. This means that you do not pay
state, federal, and social security taxes on premiums
paid using a payroll deduction. Bottom-line, this
means more money in your pocket.
Your insurance is also portable. When you complete
your current contract, you can keep your current insurance
(as long as you live within the state of California).
Obviously, premiums are no longer paid on a pre-tax
bases, but when you are rehired by Pacific NetSoft
or another NACCB firm, you can once again pay premiums
on a pre-tax basis.
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