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What is the Additional Medicare Tax for high earners?

PeopleKeep

High-wage earners pay more than the standard tax payment for Medicare. If you employ highly compensated employees, you must ensure you withhold the correct amount for Medicare taxes. The Additional Medicare Tax is an extra 0.9% This additional payment has been around since 2013 as part of the Affordable Care Act (ACA).

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Sky Sports pundit Stuart Barnes wins £700,000 tax case

Employee Benefits

Credit: MikeDotta / Shutterstock.com Former Sky Sports presenter and columnist for The Times Stuart Barnes has won a first-tier tax tribunal regarding his IR35 status , carrying £695,000 in tax liability. The post Sky Sports pundit Stuart Barnes wins £700,000 tax case appeared first on Employee Benefits.

Taxes 59
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What is Payroll Tax?

Abel HR

One of the most perplexing topics in the human resources industry is that of the payroll tax. Both employer and employee know about it but unsure of what it is and where it goes. What are Payroll Taxes? When business owners pay their employees’ wages, the law requires them to make tax payments on their behalf.

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Special analysis: Good records save tax penalties

Business Management Daily

Tax audits are all about your records. Have sloppy, incomplete and inaccurate records and you will needlessly pay tax penalties. The IRS determined that a taxpayer was $17,925 in the hole for his income taxes, and, accordingly, was liable for a $3,585 accuracy-related penalty. Tax Court, 2019). Tax Court, 2019).

Taxes 52
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AbelHR: What is Payroll Tax?

Abel HR

One of the most perplexing topics in the human resources industry is that of the payroll tax. Both employer and employee know about it but unsure of what it is and where it goes. What are Payroll Taxes? When business owners pay their employees’ wages, the law requires them to make tax payments on their behalf.

Taxes 52
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Pre-tax terms: R is for “Rollover”

Benefit Resource Inc.

The FSA rollover option is offered by some employers to employees as a form of protection against losing funds in a Medical FSA. When the FSA rollover option was passed in 2013, the goal was to introduce more flexibility toward the treatment of unused funds at the end of the plan year. The employer decides the amount that can roll.

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An Introduction to the Qualified Small Employer HRA (QSEHRA)

PeopleKeep

In 2013, IRS Notice 2013-54 issued guidance on the Affordable Care Act that prohibited businesses from using HRAs to reimburse insurance premiums.