For most small companies, every dollar they save on overhead is important. When those savings come from legitimately lowering payroll taxes, they may make a big difference. The Lumara Plan is a legal and strategic way to combine a self-insured medical expenditure reimbursement plan with a Section 125 plan for small businesses. What happened? Employers may save $60,000 or more a year on payroll taxes without decreasing compensation, raising benefit costs, or adding additional work for the staff. We'll explain how the Lumara Plan saves you money, why it works better than other pre-tax benefit plans, and what it implies for your business's bottom line in this post. The Payroll Tax Problem No One Talks About When you handle payroll, you send money to the IRS in the form of FICA taxes for Social Security and Medicare. As the employer, you pay 7.65% of each employee's taxable earnings. Most company owners don't know that they may lawfully lower taxable salaries and, as a resu...