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Has anyone used Square Payroll to offer health benefits or 401K?

Is it possible to offer 401K and health benefits when Square has no pre-tax deduction option. Is there a work around?

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@HH - good news, we just launched the ability to set up employee payroll deductions for things like health insurance and 401K! You can set up employee benefits from your Square Payroll dashboard, where you’ll specify the type of benefit, the amount or percentage to be deducted from the employee’s paycheck, yearly limits, and any contribution rates on your part as an employer. Once you run payroll with active benefits, a new screen detailing the amounts to be deducted and/or contributed will appear, where you can confirm and make any final edits.

 

You can read more about how it all works in our product update.  🎉

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@HH - Welcome to the Seller Community, and kudos on your first post! 🙌  As for your question, Square Payroll doesn't currently support pre-tax deductions. Meaning, if you have employees who currently receive pre-tax deductions for benefits such as medical or life insurance, retirement contributions, or Flexible Spending Accounts (FSA), you will not be able to use Square Payroll at this time. I definitely understand how this would be a great feature addition! 

 

We’re constantly working to improve Square Payroll based on the feedback we receive from customers. I’ll be sure to share your interest in this feature with our product liaison team.


Sean
he/him/his
Product Manager | Square, Inc.
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@HH - good news, we just launched the ability to set up employee payroll deductions for things like health insurance and 401K! You can set up employee benefits from your Square Payroll dashboard, where you’ll specify the type of benefit, the amount or percentage to be deducted from the employee’s paycheck, yearly limits, and any contribution rates on your part as an employer. Once you run payroll with active benefits, a new screen detailing the amounts to be deducted and/or contributed will appear, where you can confirm and make any final edits.

 

You can read more about how it all works in our product update.  🎉

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