I am paying for my employees' short-term disability and accident plans. Would it be an advantage to have it pre-taxed?
Opinions expressed by Entrepreneur contributors are their own.I would visit with your insurance agent. Normally if it's being taken as a tax-deductible expense, there is potential that any benefits paid would be taxable to the employee.
The key is understanding what the goal of the policy is, and whether it's most advantageous to pay for it after tax and by the employee or employer. Involve your tax professional and insurance agent in this discussion for the best outcome for you and the employees.