Your Tax Benefits for Offering Benefits
You may be wondering why you should offer benefits, which are just a drain on your business profits. Most companies that offer benefits do so to be competitive when recruiting employees and as an incentive to retain employees.
Finding the right mix of benefits to attract new employees and keep old employees differs by industry and what your local competitors are doing. Benefits make employees happier and less stressed. Happy and healthy employees are more productive, and productive employees help your business be more successful.
Even though benefits reduce your profit margin, the government pays part of this cost through the tax reduction you receive for offering benefits. You can write off the costs ...