Money Talk

MARCH 22, 2023

With 2022 income tax season well underway and almost three months already passed in 2023, now is an appropriate time to review some evergreen tax planning tools and techniques. A larger standard deduction means that taxpayers can shelter more income from income taxes. an elective surgery) that exceed 7.5%

Taxes 188

Taxes 401(k) Deductions Deductible 188

HR Bartender

JULY 11, 2023

A great example of this is my taxes. Can I prepare my own taxes? The time I spend doing tax-related stuff could be better spent generating revenue by working on client projects or building my business. I must keep my employment tax knowledge current. Payroll tax is complex and always changing. Yes, I can.

Taxes 84

Taxes Employment Payroll Payroll System 84

Money Talk

APRIL 14, 2022

The 2021 income tax season will soon be in the history books. With income tax calculations still fresh in our heads, this is a great time to do some tax planning for 2022. Here are 12 tax topics to consider: Itemized Deductions- Only about 10% of taxpayers can itemize since the Tax Cuts and Jobs Act went into effect in 2018.

Taxes 188

Taxes Family and Medical Leave Act 401(k) Deductions 188

Money Talk

JUNE 16, 2022

If you picture retirement planning and taxes as a Venn Diagram, there is lots of overlap between these two areas of personal finance. This is true both during one’s working years (when taxpayers are saving for retirement) and later, when people are older and withdrawing taxable income from tax-deferred accounts.

Taxes 187

Taxes 401(k) Retirement Plan Pension 187

Kollath CPA

APRIL 3, 2023

You decided to go with a third-party payroll provider to handle some or all of your employment tax duties. Your Tax Obligations As an Employer Your tax responsibility depends on the type of service you use. Make federal tax deposits and federal tax payments.

Taxes 52

Taxes Employment Payroll Payroll Service 52

Qandle

SEPTEMBER 20, 2023

Payroll taxes are a crucial aspect of every employer’s financial responsibilities. These taxes are collected to fund various government programs and benefits, including Social Security, Medicare, and unemployment insurance. These withheld taxes are then remitted to the Internal Revenue Service (IRS) on a regular basis.

Taxes 52

Taxes Payroll Employment Deductions 52

Patriot Software

DECEMBER 15, 2022

Arizona employers, you may know that Senate Bill 1828 substantially reduced the state’s income taxes starting with the 2022 tax year. But did you also know that it requires employer action for the 2023 tax year? You must now give all employees—not just new hires—a new AZ state income tax form.

Taxes 81

Taxes Employment Human Resources Payroll 81

Employee Benefits

FEBRUARY 21, 2024

Firstly, the reduction does not directly benefit employers since they will continue to pay secondary (employers) NICs at the current rate of 13.8% Arguably, it may take a little pressure off employers when it comes to demand for future pay rises. Many low earners will find themselves paying tax and NICs for the first time.

Insurance 108

Insurance Employment Taxes Salary 108

HR Lineup

APRIL 19, 2024

In this comprehensive guide, we will delve into the various types of equity compensation, how they work, their tax implications, and their impact on both employees and employers. ESPPs can offer tax advantages and provide employees with an opportunity to share in the company’s success.

Equity Compensation 80

Equity Compensation IT Taxes Compensation Equity 80

Patriot Software

AUGUST 29, 2022

If you have employees, you’re responsible for handling and paying Medicare tax. Like all things tax-related, Medicare tax can get complicated quickly. Read on to learn what is Medicare tax, what it funds, and how much it costs. What is Medicare tax? Medicare tax is a payroll tax employers and employees share.

Taxes 75

Taxes Employment Payroll IT 75

Patriot Software

OCTOBER 12, 2022

Self-employment is part of the American dream for many. However, one of the factors that needs to be considered is self-employment tax — which is a necessary evil when you are doing what you love! To do what you love and get paid for it can be incredibly rewarding if handled properly.

Taxes 67

Taxes Employment IT Payroll 67

Money Talk

APRIL 11, 2024

The 2023 income tax filing deadline is only days away (April 15, 2024 in most of the U.S.). It will be a busy weekend for many taxpayers and tax preparers who are filing tax returns or tax filing extensions. money that has been taxed) and can be withdrawn at any time for any reason tax-free and penalty-free.

401(k) 179

401(k) Taxes Retirement Plan Pension 179

Patriot Software

NOVEMBER 28, 2022

If you have employees, you have responsibilities—one of which is to obtain a Federal Employer Identification Number (FEIN). More than likely, you also need a state tax ID number. But, that’s not the only identifying number you need. So, what is a state ID number, and how can you obtain it? Read on for the […] READ MORE.

Taxes 64

Taxes IT Employment Payroll 64

Business Management Daily

AUGUST 31, 2023

However, the laws regarding relocation expenses have changed in recent years, which can cause confusion for employers and employees. Employers pay the employee back for out-of-pocket relocation costs like packing and moving services, temporary housing, and travel expenses. What is a relocation reimbursement?

Taxes 98

Taxes Deductions Deductible Bonuses 98

Stratus.HR

SEPTEMBER 25, 2020

While one is for employers and the other is for employees, both have left business owners with a number of questions — particularly if they should capitalize on these deferral options. CARES Act: Employer Tax Deferral. For more information about the employer tax deferral option, please visit the IRS list of FAQs.).

Taxes 64

Taxes Employment Payroll IT 64

Global People Strategist

NOVEMBER 20, 2023

Brazil boasts a robust and complex system of employment laws regulating various aspects of the employer-employee relationship. This article provides an overview of employment laws in Brazil, highlighting key regulations and their implications for businesses. Employers must adhere to these entitlements to remain compliant.

Employment 98

Employment Taxes Government Payroll 98

Joe Markland

AUGUST 11, 2023

In 2016 I predicted that an individual health policy would be an eligible pre-tax expense by 2020. On January 2020, the Individual Coverage Health Reimbursement Account (ICHRA) was enacted, and employees for the first time in 75+ years could buy an individual policy with pre-tax dollars if their employer adopted an ICHRA.

Health Insurance 130

Health Insurance Insurance Employment Finance 130

BerniePortal

MARCH 5, 2020

*This blog is adapted from the HR Party of One episode, Tips for Employer Taxes, which you can view below. Tax season is among us - so today, we’re covering what HR Parties of One need to know. Paying employer contributions for FICA taxes. Paying other employer business taxes. percent Medicare tax.

Taxes 52

Taxes Employment Deductions Deductible 52

Benefit Resource Inc.

JANUARY 3, 2023

If you’re in the 70% of people who have health-related goals for 2023, let’s take a look at how pre-tax benefits can help set goals and prioritize your health this year and beyond. Add In Pre-Tax Benefits. Add In Pre-Tax Benefits. Set SMART Goals. Tracking your progress is an important part of any goal-setting process.

Utilities 98

Utilities Taxes Flexible Spending Account Flexible Spending 98

Employee Benefits

JANUARY 24, 2024

Crypto currency is subject to income tax when an employee receives it but could also incur a capital gains tax charge if they hold it for more than 30 days. And, while most people are happy to watch the roller coaster ride from the sidelines, employers are beginning to consider crypto as part of their pay strategies.

Global Payroll 105

Global Payroll Employment Taxes Pension 105

Kollath CPA

JANUARY 13, 2022

What Exactly Is a “Tax Year”? A tax year is an annual accounting period for keeping records and reporting income and expenses. Types of Tax Year. A 52-53-week tax year is a fiscal tax year that varies from 52 to 53 weeks but doesn’t have to end on the last day of the month. Calendar Year.

Taxes 98

Taxes Consulting Employment IT 98

Business Management Daily

MARCH 3, 2023

Congress routinely showers small businesses with tax preferences. And now is the time to think about them, since the tax-filing deadlines for calendar-year corporate returns are fast approaching—March 15 for S corps and April 18 for C corps. But there is a difference between the two: Tax deductions reduce your taxable income.

Deductions 98

Deductions Deductible Taxes Health Insurance 98

Kollath CPA

DECEMBER 9, 2021

If you’re running a business, you’re on the hook for a variety of taxes. But What Taxes Do Businesses Have To Pay? Let’s take a look at the main categories: Income tax . All businesses except partnerships must file an annual income tax return. Estimated tax . Self-employment tax .

Taxes 95

Taxes Manufacturing Transportation Retail 95

PeopleKeep

JUNE 24, 2021

One of the most valuable features of a health reimbursement arrangement (HRA) is its ability to reimburse employees for individual health insurance policies tax-free. Unlike group health insurance, HRAs give employees the freedom to choose from a wider variety of insurance policies and customize them to fit their personal needs.

Taxes 90

Taxes Health Insurance IT Insurance 90

Business Management Daily

JULY 28, 2022

To be mindful of the personal aspect of the payroll relationship between employer and employee and to ensure that harmony is maintained through constant concern for the Payroll Professional’s fellow employees. To maintain the absolute confidentiality of the payroll within the procedures of the employer. No, according to the IRS.

Taxes 59

Taxes Payroll IT Payroll Manager 59

WEX Inc.

MARCH 7, 2023

The season for filing taxes is upon us once again. We wanted to share a few tips and reminders about the health savings account (HSA) information you’ll need for your tax return. Make sure your W-2 form shows HSA payroll contributions Provided by your employer, your W-2 shows the wages you earned and any taxes withheld.

Taxes 98

Taxes Health Savings Account Deductions Deductible 98

Stratus.HR

AUGUST 31, 2020

On Saturday, August 8, 2020, President Trump issued an executive memorandum for an employee payroll tax deferral that would allow Social Security tax withholdings and payments be postponed until 2021 to provide continued relief from the COVID-19 pandemic. Key Provisions of the Payroll Tax Deferral Memorandum. Source: NAPEO ).

Taxes 66

Taxes Payroll Employment PTO 66

Patriot Software

JANUARY 27, 2021

If you’re an employer in Washington state, it’s time to listen up. There’s a new tax in town: the Seattle JumpStart tax. So Seattle employers, read up on the new payroll expense tax and what it means for you and your business. What is the Seattle JumpStart tax?

Taxes 88

Taxes Employment Payroll IT 88

WEX Inc.

AUGUST 14, 2023

Yes, employers do have the option of providing employees with an FSA carryover. The IRS permits employers to allow their employees to carry over up to $610 from their 2023 FSA (indexed annually, per IRS rules). The employer determines the amount of the carryover (up to the IRS limit). It is not legal, financial, or tax advice.

Flexible Spending Account 98

Flexible Spending Account IT Flexible Spending Taxes 98

Kollath CPA

MARCH 9, 2022

You don’t generally have to withhold or pay any taxes on payments to independent contractors, as you do with employees. For an official ruling, you can file Form SS-8, Determination of Worker Status for Purposes of Federal Employment Taxes and Income Tax Withholding, with the IRS.

Taxes 98

Taxes Electronics Pension Software 98

HR Lineup

APRIL 1, 2024

Managing international payroll can be complex due to differences in tax laws, regulations, and currency exchange rates. It involves calculating and reporting the income tax and social security obligations of employees in both their home country and the host country where they work. What is Shadow Payroll? How Does Shadow Payroll Work?

Payroll 52

Payroll Payroll System IT Taxes 52

Employee Benefits

APRIL 30, 2024

But, following four years of homeworking for many triggered by the Covid-19 lockdown, what are the types of things employers must consider when enacting changes like this? Employees should check the employee’s place of work stated in their employment contract. Employers must be mindful of their obligations under the Equality Act 2010.

Employment 59

Employment Construction Taxes Consulting 59

PeopleKeep

JULY 6, 2022

If you have remote employees in other states than where your organization is located, taxes can be challenging. With so many people working from home, employers and state governments face new challenges regarding taxation, nexus, and employee benefits. Want to offer employee benefits that work no matter where your employees live?

Taxes 97

Taxes Work From Home Government Technology 97

PeopleStrategy

MAY 19, 2021

Top 5 Payroll Tax Tips for Employers Schedule and complete payroll data integrity audits (each payroll, quarterly and annual) Schedule and complete regular employee data integrity audits – at least 2x per year It is the Employer’s responsibility to withhold and pay all mandatory payroll taxes timely.

Taxes 52

Taxes Payroll Employment IT 52

PeopleStrategy

MAY 13, 2021

Top 5 Payroll Tax Tips for Employers Schedule and complete payroll data integrity audits (each payroll, quarterly and annual) Schedule and complete regular employee data integrity audits – at least 2x per year It is the Employer’s responsibility to withhold and pay all mandatory payroll taxes timely.

Taxes 52

Taxes Payroll Employment IT 52

Business Management Daily

MARCH 16, 2023

Tax home You can reimburse employees for their travel expenses when they travel away from their tax home on business. Tax homes aren’t employees’ homes, unless they’re working from home. Tax homes are employees’ regular or main place of business. Figuring out employees’ tax homes is the easy part.

Taxes 59

Taxes Work From Home Management Employment 59

Patriot Software

OCTOBER 13, 2022

A handful of cities in Colorado have a local tax called an occupational privilege tax. Both employees and employers owe it. If you’re an employer in Colorado, it’s important to know if you owe the occupational privilege tax and what your city requirements are. What is occupational privilege tax?

Taxes 80

Taxes Employment IT Payroll 80