Definition: In accounting, "premiums" are charges for services or goods provided by an employer to an employee. In this context, "pre-tax" means that these taxes are not included in the amount being charged to an employee. Here's a more detailed explanation: - Pre-tax refers to the pre-tax amount that is taken into account when calculating tax on income from employment. - "Premiums" refer to charges paid by the employer for providing services or goods, which include such items as rent, utilities, and salaries. In this context, the term "premium" does not refer to a tax on income derived from employment. - When an employee pays premiums, it is essentially taking away the money that would have been earned through their job, but instead paying for certain services or goods provided by their employer. So in summary:
Pre-tax refers to the amount taken into account when calculating tax on income from employment.
Premiums refer to charges paid by the employer for providing services or goods.

are insurance premiums pre tax