Healthcare Provider Update: For Gannett, the healthcare provider is UnitedHealthcare, which has been affiliated with the company and serves its employees. In 2026, healthcare costs are expected to rise substantially, with many states experiencing dramatic premium increases for Affordable Care Act (ACA) plans. With the potential expiration of enhanced federal premium subsidies, more than 22 million Americans could face out-of-pocket premium hikes exceeding 75%. Contributing factors include escalating medical costs, projected increases in provider reimbursements, and aggressive rate hikes from major insurers, resulting in an overall perfect storm pushing affordability beyond reach for many families. As these factors coalesce, it's crucial for Gannett employees and ACA marketplace enrollees to stay informed and consider their healthcare options carefully for the upcoming year. Click here to learn more
'For Gannett employees, the recent increase in the IRS standard mileage rate presents an excellent opportunity to maximize business-related deductions, offering immediate tax savings for those who rely on their personal vehicles for work-related travel,' said Kevin Landis, a representative of The Retirement Group, a division of Wealth Enhancement Group.
'With the IRS raising the standard mileage rate for business use, Gannett employees should be sure to take advantage of this favorable adjustment, ensuring they capture every possible d eduction while managing the increased costs of vehicle operation,' said Paul Bergeron, a representative of The Retirement Group, a division of Wealth Enhancement Group.
In this article we will discuss:
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1. The increase in standard mileage rates for business, medical, and moving purposes in 2022.
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2. The specific deductions available for Gannett employees based on mileage usage.
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3. The IRS’s rare mid-year revision and its impact on vehicle-related tax deductions.
Due to recent increases in the price of petroleum, the Internal Revenue Service has increased the optional standard mileage rates for calculating the deductible costs of operating an automobile for business, medical, and relocating purposes for the second half of 2022. Statutorily established and unaltered, the standard mileage rate used to calculate the deductible costs of operating a vehicle for charitable purposes.
For July 1, 2022, to December 31, 2022, the standard mileage rates are as follows:
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Business use of auto : Our Gannett customers may find this to be especially advantageous. If a vehicle is used for business purposes, a deduction of 62.5 cents per mile (increased from 58.5 cents for January 1, 2022 to June 30, 2022) is allowed. As an Gannett employee, your employer may reimburse you for business-related travel expenses at the per-mile rate. Nevertheless, if Gannett does not reimburse you for business-related travel expenses, you cannot deduct these costs as miscellaneous itemized deductions.
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Charitable use of auto : 14 cents per mile (the same as for January 1, 2022 through June 30, 2022) may be deducted if a vehicle is used to provide services to a charitable organization if you itemize your deductions on your tax return. Depending on the type of charity, your charitable deduction may be limited to a certain percentage of your adjusted gross income. We would like Gannett customers to be aware of this.
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Medical use of auto : 22 cents per mile (increased from 18 cents per mile for January 1, 2022, through June 30, 2022) may be deducted if a vehicle is used to obtain medical care (or for other deductible medical purposes) if you itemize your deductions on your tax return. Also essential for Gannett customers to remember is that you can only deduct the portion of your medical and dental expenses that exceeds 7.5% of your adjusted gross income.
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Moving expense : 22 cents per mile (increased from 18 cents per mile for January 1, 2022 to June 30, 2022) may be deducted if an auto is used by an active-duty member of the Armed Forces to move to a permanent change of station pursuant to a military order (unless such expenses are reimbursed). The moving expense deduction is not presently available to other taxpayers.
The IRS typically revises the standard mileage rates in the autumn for the following calendar year. Rarely does the IRS increase the standard mileage rates in the middle of the year; the last time this occurred was in 2011.
According to a recent announcement by the Internal Revenue Service (IRS) on September 20, 2022, it's worth noting that the standard mileage rate for business use of an automobile has increased to 62.5 cents per mile for the second half of 2022. This rate can be particularly advantageous for Gannett workers who frequently use their personal vehicles for business-related purposes. It allows them to potentially claim higher deductions for their mileage expenses when calculating their tax returns. This increase reflects the rising costs of fuel and vehicle operation, offering some relief to individuals who rely on their vehicles for work-related travel. (Source: Internal Revenue Service, 'IRS Issues Standard Mileage Rates for Last Half of 2022,' September 20, 2022)
Imagine you're navigating a road trip to financial well-being in retirement. Along the way, you encounter different toll booths that determine the deductions you can claim for your vehicle expenses. For the second half of 2022, the toll booth operated by the Internal Revenue Service (IRS) has raised its rates, allowing you to enjoy more deductions for business-related mileage. It's like finding a new, more affordable route that saves you money on toll fees. As a Gannett traveler, this can be especially advantageous, as you can now claim 62.5 cents per mile for business use, up from the previous rate. Just as a savvy driver selects the most cost-effective path, taking advantage of the increased standard mileage rates can steer you closer to your financial destination, providing you with added tax benefits for the miles you travel on your professional journey.
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Sources:
1. Internal Revenue Service. IRS Issues Standard Mileage Rates for 2022 . U.S. Department of the Treasury, 17 Dec. 2021, irs.gov/newsroom/irs-issues-standard-mileage-rates-for-2022 .
2. Internal Revenue Service. IRS Increases Mileage Rate for Remainder of 2022 . U.S. Department of the Treasury, 9 June 2022, irs.gov/newsroom/irs-increases-mileage-rate-for-remainder-of-2022 .
3. Miller, Stephen. IRS Raises Standard Mileage Rate for Final Half of 2022 . SHRM, 9 June 2022, shrm.org/topics-tools/news/benefits-compensation/irs-raises-standard-mileage-rate-final-half-2022 .
4. 'IRS Releases 2022 Mileage Rates and Vehicle Values.' NFP , 17 Dec. 2021, nfp.com/insights/irs-releases-2022-mileage-rates-and-vehicle-values .
5. 'IRS Revises Optional Standard Mileage Rates.' NFP , 22 June 2022, nfp.com/insights/irs-revises-optional-standard-mileage-rates .
How does The Newspaper Guild International Pension Plan ensure that members are informed about their pension benefits, and what steps should an employee take to understand their earned Pension Credits within this Plan?
Member Information on Pension Credits: Members are informed about their pension benefits and earned Pension Credits through an annual statement provided by the Board of Trustees. This statement includes details about years of service, vesting status, and accrued Pension Credits. Members are encouraged to keep their contact information updated to ensure they receive all pertinent information.
In what ways are the contribution rates structured under The Newspaper Guild International Pension Plan, and how do these rates impact the monthly benefits that members receive upon retirement?
Contribution Rates Structure: The pension contributions by employers are structured based on collective bargaining agreements. These contributions are pivotal in determining the monthly benefits members receive upon retirement. The rate of contributions, along with the number of years of service and accumulated Pension Credits, directly influences the calculation of retirement benefits.
Can you elaborate on the different types of pensions offered by The Newspaper Guild International Pension Plan, including the eligibility criteria and the benefits associated with each type?
Types of Pensions Offered: The plan offers several types of pensions: Regular Pension, Early Pension, Disability Pension, and Deferred Pension. Each type has specific eligibility criteria: Regular Pension is available upon reaching Normal Retirement Age, generally age 65. Early Pension can be taken from age 55, provided certain service and Pension Credit conditions are met. Disability Pension is awarded if a member becomes disabled as per the plan's criteria and Social Security Administration’s confirmation. Deferred Pension applies if a member leaves employment after vesting but before qualifying for early or regular pension.
How does The Newspaper Guild International Pension Plan address the calculation of pensions for members who have participated in more than one pension contribution plan, and what specific guidelines govern these calculations?
Multiple Pension Plans Participation: If a member has participated in more than one pension contribution plan, their pensions are calculated by taking into account all the Pension Credits accumulated across different plans. Specific guidelines ensure that the benefits from all plans are integrated correctly to reflect total earnings and contributions.
What implications does the merger of the NewsGuild-CWA Adjustable Pension Plan into The Newspaper Guild International Pension Plan have for current and future pension benefits for employees covered under both plans?
Implications of Plan Mergers: The merger of the NewsGuild-CWA Adjustable Pension Plan into The Newspaper Guild International Pension Plan ensured that no accrued benefits were reduced. All benefits from the merged plan are honored, with provisions made to integrate the benefits and maintain the financial integrity of the merged plan.
How should an employee of The Newspaper Guild International Pension Plan respond if they experience a change in employment status that may affect their pension eligibility and what steps do they need to take to maintain their benefits?
Change in Employment Status: Members experiencing a change in employment status that might affect their pension eligibility should immediately notify the plan administrators. Steps include reviewing the impact on their Pension Credits and adjusting their retirement planning accordingly.
In the event of an employee’s death, what provisions are made under The Newspaper Guild International Pension Plan for survivor benefits, and how can family members navigate the process of claiming these benefits?
Provisions for Survivor Benefits: In case of a member’s death, the plan provides survivor benefits to the spouse or domestic partner. These benefits are structured based on the type of pension the member was receiving or entitled to receive, ensuring ongoing support for the beneficiaries.
How does The Newspaper Guild International Pension Plan define what constitutes "disqualifying employment," and what are the consequences for a member if they engage in such employment before reaching normal retirement age?
Disqualifying Employment Definition: Disqualifying employment under The Newspaper Guild International Pension Plan refers to any job that might affect a member's pension benefits if engaged in before reaching the normal retirement age. Engaging in such employment could potentially suspend or reduce pension benefits.
What resources does The Newspaper Guild International Pension Plan provide for employees seeking assistance with their pension plans, and who specifically should they contact for detailed inquiries regarding their benefits?
Resources for Assistance: Members seeking assistance with their pension plans are encouraged to contact the Board of Trustees directly. The plan’s office provides detailed inquiries and support regarding benefit calculations, eligibility, and other pension-related questions.
How can an employee contact The Newspaper Guild International Pension Plan for further information about their pension benefits, and what specific inquiries should they be prepared to discuss during their interaction with the Office?
Contacting for Further Information: Members can contact The Newspaper Guild International Pension Plan office via provided contact details for further information about their pension benefits. When interacting with the office, members should be prepared to discuss their employment history, Pension Credit details, and any specific questions about their retirement benefits.
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