Take It Personel-ly

MARCH 22, 2021

As tax season rolls around, it can be a time-consuming and challenging process for small business owners to get things in order. tax code can be complex, and finding yourself out of compliance could lead to steep penalties. Developing good tax prep habits and maintaining accurate records and practices all year long can […].

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Taxes Finance IT 103

PayrollOrg

JANUARY 25, 2022

On January 24, the IRS opened the tax filing season for taxpayers.

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Taxes 197

Money Talk

AUGUST 26, 2021

A recent article in the Wall Street Journal described a new investment trend: “Wealthy Americans eyeing potential tax increases are helping drive record amounts of money into municipal bond funds.” It also went on to state that tax-free U.S. With these trends in mind, now is a good time to review some basics about tax-free (a.k.a.,

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Taxes Government IT 100

BerniePortal

MARCH 2, 2021

Tax season is busy for employers on both a personal and professional level. From compliance matters to deadlines, this resource will help answer questions your employees may have about tax season.

Taxes 98

Taxes Employment 98

BerniePortal

JANUARY 13, 2021

In December 2020, the IRS released the final version of the 2021 Form W-4. The important tax form includes only very few changes from the 2020 version, which was overhauled to feature more accurate withholding information in a simpler, more accurate, and more private document. Here's what you need to know.

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Taxes 72

BerniePortal

OCTOBER 13, 2020

13, 2020, that the wage cap for Social Security payroll taxes will increase in 2021. The Social Security Administration (SSA) announced on Oct. What do employers need to know about this update?

Taxes 69

Taxes Payroll Employment 69

BerniePortal

MARCH 29, 2021

With an extension to the federal tax return deadline and other changes, what should employees know this tax season? After a year of deferred deadlines, employment law changes, and workplace adjustments, employees have had a lot to keep track of both inside and outside of the office.

Taxes 98

Taxes Employment Recruitment 98

PeopleKeep

NOVEMBER 5, 2020

In practical terms, that means small businesses are limited in how much tax-free money they can offer their employees through the benefit. In 2021, small businesses may offer up to $5,300 per self-only employee and up to $10,700 per employee with a family.

Taxes 95

Taxes Employment 95

HR Lineup

SEPTEMBER 1, 2021

Any business requires the best payroll software 2021 to manage its employees’ payroll. The software should be very effective to manage taxes and employee benefits. If you are looking for top payroll software in 2021, we recommend them below. Our List of Top Payroll Software of 2021. Quickbooks Payroll.

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Payroll Software Payroll Software Human Resources 72

Business Management Daily

AUGUST 2, 2023

mail for their own nefarious purposes, the main avenues for tax scams remain email and text messaging—these methods reach many more people at a fraction of the cost of a stamp. Those checks were free money—they weren’t taxable income and you didn’t have to reduce your tax refund to account for them.

Taxes 52

Taxes Government Commissions Banking 52

McDermott Will & Emery Employee Benefits

JULY 26, 2022

Last month, the Washington Court of Appeals affirmed a lower court’s decision to dismiss a challenge to the recently enacted payroll expense tax in Seattle, WA. The tax, which went into effect on January 1, 2021, […]. Seattle Metro. Chamber of Commerce v. City of Seattle, No. 82830-4-I, 2022 WL 2206828 (Wash.

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Taxes Payroll Employee Benefits Executive Compensation 64

Stratus.HR

JUNE 28, 2021

The IRS recently announced that its program to provide advanced monthly payments of 2021 Child Tax Credits will begin in July. What is the Child Tax Credit? The Child Tax Credit is something a taxpayer typically claims when filing taxes. Not sure whether you qualify for the Child Tax Credits? (Not

Taxes 57

Taxes Paid Leave Consulting Employee Retention 57

PeopleKeep

MARCH 15, 2021

With the recent passage of the American Rescue Plan Act of 2021 , there’s been a lot of talk about the changes made to premium tax credits and lowering health insurance costs—but what exactly are premium tax credits, and what do they have to do with how much you pay for health insurance?

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Taxes Health Insurance Insurance Healthcare 98

BerniePortal

JUNE 16, 2021

In spring 2021, Congress passed the American Rescue Plan Act of 2021 (ARPA) , which introduced a flurry of changes to U.S. Included among the many updates were several important adjustments to the child tax credit (CTC). Find out how the tool works and what employees need to know about the child tax credit.

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Taxes 90

PayrollOrg

JANUARY 17, 2022

Payroll Currently – Volume 29 – 2021. PayState Update – Volume 23 – 2021. Federal Payroll Tax Laws & Regulations. Federal Payroll Tax Laws & Regulations contains payroll-related sections of the Internal Revenue Code and Internal Revenue Service regulations. Federal Payroll Non-Tax Laws & Regulations.

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Electronics Payroll Taxes Online Payroll 197

Business Management Daily

DECEMBER 7, 2021

share of Social Security taxes last year, the time to make your first payment is approaching quickly. You’ll receive a separate notice for each quarter you deferred the deposit of your taxes. 31, 2021, and Dec. Your make-up payments must be made separately from your other tax deposits. If you deferred depositing your 6.2%

Taxes 100

Taxes Employment Management IT 100

BerniePortal

JUNE 21, 2021

In late May 2021, the Biden administration released the federal budget for the Fiscal Year 2022 as well as the White House’s proposed tax plans for the same time period. Find out what’s included in the U.S. Treasury “Green Book” and how it may impact American employers around the country.

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Taxes Employment IT 98

Stratus.HR

NOVEMBER 30, 2020

If you’re planning your tax-sheltered income for 2021, the IRS did not increase the $2,750 limit you can contribute to a health Flexible Spending Account (FSA). However, health savings account (HSA) participants will be able to contribute a little more in 2021. What is the 2021 health FSA contribution limit?

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Health Savings Account Flexible Spending Account Flexible Spending Taxes 52

Business Management Daily

MARCH 4, 2022

Tax lawyers should be able to do their own taxes, don’t you think? So I was confident last weekend as I set about preparing our taxes. Once I got the hang of loading the tax-prep software onto my almost-brand-new Windows 10 laptop and ran through sometimes deliberately vague set-up questions, I discovered several blatant errors.

Taxes 52

Taxes Payroll Pension Deductions 52

Patriot Software

DECEMBER 8, 2021

There’s a new personal income tax that went into effect in 2021, and it may impact both you and your employees. What is this new tax in town, you ask? The Multnomah County Preschool for All tax. If you’re an employer in Oregon (specifically in Multnomah County), listen up.

Taxes 73

Taxes Employment IT Payroll 73

Business Management Daily

JUNE 3, 2023

Would you be comfortable letting the IRS do your taxes? Free File is a collaborative effort between the IRS and commercial tax software firms under which taxpayers with incomes under a certain threshold who file simple returns can file their returns, well … for free. Curious about who sees your tax data?

Taxes 52

Taxes Payroll Education Software 52

HR Lineup

SEPTEMBER 15, 2021

Below are the best HRIS software solutions 2021 that will help you manage your workforce effectively. Our List of Best HRIS Systems 2021. The post Best HRIS Software Solutions 2021 appeared first on HR Lineup. Since the COVID-19 pandemic, the last thing you want to do as an employer is put your workers at risk.

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Software Human Resources Payroll Payroll Manager 67

Money Talk

JANUARY 19, 2022

In this post, I continue my discussion of tips from webinars, podcasts, and virtual conferences that I heard during the last quarter of 2021. Make Tax-Advantaged Gifts - Consider “bunching” charitable donations with other tax deductions (e.g., state income tax and local property tax) every so often (e.g.,

Flexible Spending Account 242

Flexible Spending Account Taxes Pension Deductions 242

Patriot Software

DECEMBER 28, 2020

A new type of payroll tax is coming your way in 2021. Learn all about the Eugene Community Safety Payroll tax and whether or not you need to withhold and remit it to the city. What is the Eugene Community Safety Payroll Tax? Specifically, attention employers in Eugene, Oregon. The Eugene Community […] READ MORE.

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Taxes Payroll Employment IT 90

PeopleStrategy

APRIL 18, 2022

If you are running your own small business, then chances are that taxes are one your biggest expenses. Although having a good tax plan is place is an effective strategy, you can save more money for your business with our small business tax tips. Here are some useful ideas that can help you reduce your business taxes in 2022.

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Taxes Deductions Deductible Entertainment 52

Business Management Daily

MARCH 12, 2021

Paid leave tax credits for public employers. We have always imputed these amounts into employees’ income and withheld taxes. Things were a bit chaotic last year, to say the least, so we didn’t notice the provision in the CARES Act under which employers may pay these expenses tax-free to employees. Reporting no SSN on a W-2.

Payroll 52

Payroll Paid Leave Taxes Deductions 52

Griffin Benefits

DECEMBER 30, 2021

Thousands of companies turned to JP Griffin Group for guidance on employee benefits topics in 2021. TOP TEN BLOG POSTS OF 2021. A consolidated list of 2022 IRS contribution limits for tax-advantaged employee benefits accounts such as HSAs, FSAs, 401(k)s, QSEHRA, transportation, and adoption benefits. TOP FIVE DOWNLOADS OF 2021.

401(k) 79

401(k) Employee Benefits Healthcare Media 79

BerniePortal

MARCH 23, 2021

Congress passed the American Rescue Plan Act of 2021 (ARPA) in early March 2021, implementing dozens of changes to the U.S. Among these updates is an expanded and enhanced child tax credit (CTC), which offers a more generous—and flexible—benefit for qualifying parents and guardians.

Taxes 64

Taxes 64

Money Talk

JANUARY 13, 2022

In this post, I continue my discussion of tips from webinars, podcasts, and virtual conferences that I heard during the last quarter of 2021. Think Tax Efficiency - Plan ahead to pay the least amount of taxes legally due on retirement savings. Tax efficiency can have a significant impact on portfolio longevity.

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Taxes Utilities Finance Banking 239

Business Management Daily

MARCH 16, 2022

The likely effect will be delayed tax refunds for taxpayers who file even minimally complex returns. 2021 Form 1040 tax filing stats so far. The IRS keeps track of tax filing statistics on a weekly basis when compared to the year before. increase from 2021; it processed 43,818,000 returns, which is an 11.2%

Taxes 52

Taxes Payroll Management IT 52

HR Lineup

SEPTEMBER 23, 2021

That is why you should upgrade to the best compensation management software 2021 with modern and personalized features. . With QuickBooks, small businesses can prepare for their tax returns, by fully eliminating the need for manual processes. The post 5 Best Compensation Management Software 2021 appeared first on HR Lineup.

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Software Management Human Resources Compensation System 75

Employee Benefits

FEBRUARY 21, 2024

Furthermore, the cut must be viewed in the context of a creeping counterbalance known as fiscal drag, caused by the government’s freeze in the tax and NIC thresholds until April 2028. Until the 2022/23 tax year, governments have normally increased the tax and NIC thresholds annually.

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Insurance Employment Taxes Salary 108

Benefit Resource Inc.

JANUARY 14, 2022

We’re here to provide you with a short guide to help you understand the required tax documents for your pre-tax benefits. . A Health Savings Account (HSA) is a savings account that provides tax-free contributions and potential tax deductions for qualified medical expenses incurred by the holder. For BRI Customers.

Taxes 40

Taxes Flexible Spending Account Health Savings Account Flexible Spending 40

Money Talk

SEPTEMBER 30, 2022

Many are middle income taxpayers who diligently saved and invested for 4-5 decades in tax-advantaged plans. As I wrote in my book Flipping a Switch , some older adults must “plan for higher taxes in the future, especially when required minimum distributions (RMDs) kick in.” IRMAA surcharges. to $573.30 for Medicare Part B and $12.40

401(k) 244

401(k) Taxes Pension Deductions 244

Patriot Software

OCTOBER 6, 2021

The benefit itself isn’t new, but it got a tax-exemption makeover thanks to the CARES Act and Consolidated Appropriations Act. If you’re looking for a new benefit to offer employees, you might consider employer student loan repayment. The result? An up-and-coming employee benefit hitting businesses nationwide.

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Taxes Employment Employee Benefits IT 78

Money Talk

AUGUST 10, 2022

The year 2021 was noteworthy for the “Great Resignation” as about 47 million people quit jobs last year. Tax on Social Security Benefits - Income from unretiring may push older taxpayers into the income range where tax is due on a portion of Social Security benefits. Factors contributing to this trend include: 1.

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Disability Insurance Taxes Health Insurance Pension 246

Money Talk

DECEMBER 29, 2022

This includes topics of interest to older adults in later life such as required minimum distributions (RMDs), taxes on Social Security benefits, and Medicare premiums. Key risks in retirement include longevity, health care expenses, taxes, and inflation. Many have to settle for less. It is not all theirs to keep.

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401(k) Taxes Retirement Plan Finance 177