Money Talk

JUNE 8, 2022

A big concern of people with multiple income streams is adequate tax withholding. Nobody want to pay the IRS tax underpayment penalty, which is 0.5% of the amount owed for each month or partial month of unpaid taxes. mutual fund dividend and capital gain distributions), and tax withholding. In other instances (e.g.,

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Taxes Pension Deductible Deductions 278

PayrollOrg

JULY 25, 2024

Find links to state tax agencies and more using PayrollOrg’s Resource Library. The Iowa Department of Revenue has a new website at revenue.iowa.gov. The new site combines tax.iowa.gov and abd.iowa.gov.

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Taxes 118

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%

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Taxes 401(k) Deductible Deductions 189

Money Talk

MARCH 29, 2023

Last year, I wrote a post that described the pros and cons of filing your income taxes by paper or electronically (e-filing). Looking back, it was also a “personal pep talk” for me because I knew I was part of a dying breed of paper income tax filers. of tax returns are filed by paper or, in numerical terms, nearly 13.2

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Taxes Electronics Finance Software 246

Patriot Software

JUNE 18, 2024

Tax withholding is an essential piece of the payroll puzzle. One of the taxes you must withhold from employee wages is the Old-Age, Survivors, and Disability Insurance (OASDI) tax. You must also contribute an employer portion of the OASDI tax. OASDI tax is more commonly referred to as Social Security tax.

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Disability Insurance Taxes Insurance Deductible 78

PayrollOrg

SEPTEMBER 24, 2024

Four counties have income tax rate changes. Indiana Department of Revenue revised Departmental Notice No. 1 effective October 1, 2024.

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Taxes 118

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.

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Taxes 401(k) Retirement Plan Pension 188

Patriot Software

MARCH 6, 2024

Understand the new Alabama overtime tax law that exempts employees' overtime earnings from state income tax. Get the details and reporting requirements for businesses. Read More

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Overtime Taxes Employment Payroll 97

McDermott Will & Emery Employee Benefits

APRIL 11, 2024

Taxes can have a significant impact on family offices, influencing decisions around structure, investing and overall planning strategies. McDermott’s Family Office Tax webinar series explores the latest trends and guidance on tax planning for family offices and identifies opportunities to optimize tax efficiency.

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Taxes Employee Benefits Executive Compensation Retirement Plan 105

Florida Workers' Comp

JANUARY 18, 2024

You only have to pay taxes and die (that is a rough adaptation of Benjamin Franklin's "Nothing is certain except death and taxes"). This is the part where we come back to death and taxes. And, we return once again to death and taxes. There is, in that grand illustration of death and taxes perhaps the inkling of freedom.

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Taxes Government IT 80

McDermott Will & Emery Employee Benefits

MAY 23, 2024

The New York State fiscal year 2024 – 2025 budget institutes a new tax on health plans, including insurers and managed care organizations. This tax has been garnering attention for its promise to yield $4 billion for New York State.

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Taxes Insurance Employee Benefits Health and Welfare 98

PayrollOrg

AUGUST 23, 2024

The New York Department of Taxation and Finance has announced that changes will be coming to withholding tax and wage reporting forms and the online Web File services. The changes will impact employers on the filings due in March 2025.

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Taxes Finance Employment 104

WEX Inc.

JUNE 20, 2024

Tax deductions if you have a fleet of commercial vehicles Are you a small or large business owner with commercial vehicles, or a fleet manager? Calculating your commercial vehicle spend and how it will be impacted at tax time, including mileage and leasing, can make a huge difference in your overall expenses.

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Bonuses Taxes Deductible Deductions 98

PayrollOrg

OCTOBER 17, 2023

PayrollOrg’s Government Relations Task Force commented on the IRS’s information collection notice on federal employment tax forms in September.

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Taxes Employment Government 129

Patriot Software

AUGUST 17, 2020

Tax withholding comes with the territory of being an employer. Employment taxes can be broken down into payroll taxes and income taxes. But when you hear about a payroll tax deferral, you probably want to know the exact difference between payroll tax vs. income tax.

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Taxes Payroll Employment 135

PayrollOrg

JANUARY 11, 2024

Effective January 1, 2024, 13 Indiana counties have income tax rate increases and the state withholding tax rate decreased to 3.05% from 3.15%.

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Taxes 118

Money Talk

FEBRUARY 25, 2022

I am one of the 10 million or so tax filers that the IRS probably hates. I continue to file my taxes on paper. But the process is cumbersome and it is so much easier for me- as an admitted frugal tax geek- to fill out paper forms, double check my math, and priority mail my tax return. It is like piecing together a quilt.

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Taxes Electronics Software Finance 100

PayrollOrg

DECEMBER 22, 2023

Effective January 1, 2024, 12 Indiana counties will have income tax rate increases and the state withholding tax rate will decrease to 3.05% from 3.15%.

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Taxes 104

PayrollOrg

FEBRUARY 5, 2022

Recent legislation delays the collection of the employee-paid payroll tax to fund the Washington long-term care insurance plan until July 1, 2023. Employers must refund the payroll tax already collected to employees.

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Taxes Payroll Insurance Employment 211

PayrollOrg

APRIL 19, 2024

On April 18, the IRS released its 2023 Internal Revenue Service Data Book, which provides statistics that underscore the importance of payroll professionals to the integrity of the American tax system.

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Taxes Payroll IT 104

Patriot Software

SEPTEMBER 18, 2024

You’re part business owner, part marketer, and part … payroll tax filing extraordinaire. And being a payroll tax filing extraordinaire requires that you know how to file employee taxes. Filing payroll taxes takes time and an understanding of the process. Read on to learn more about filing employee taxes.

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Taxes Online Payroll Payroll 59

PayrollOrg

AUGUST 18, 2023

Effective July 1, 2024, Vermont employers will be required to make contributions for a new state payroll tax. A portion of the tax may be withheld from employee wages, and the rest must be paid by the employer.

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Taxes Payroll Employment 104

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

Patriot Software

OCTOBER 17, 2022

Unemployment benefits are funded by unemployment taxes, which are paid based on employee wages. But who pays unemployment tax? Types of unemployment taxes Before you can learn who pays unemployment taxes, you need to know about the two types […] READ MORE. You or your employees?

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Taxes Payroll 108

Patriot Software

DECEMBER 14, 2022

Self-employed individuals must pay a unique payroll tax called self-employment tax. What is self-employment tax? In this article, you’ll find out everything you need to know about self-employment tax. Learn how much the tax is, how to calculate your tax liability, and more. If so, you better keep reading.

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Taxes Employment Payroll 97

PayrollOrg

JANUARY 25, 2022

The governor of Washington has announced a delay collecting the payroll tax associated with the Washington long-term care insurance program until April 2022.

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Taxes Payroll Insurance 197

PayrollOrg

SEPTEMBER 22, 2023

1 to reflect income tax rate changes in Adams, Clinton, Dearborn, Henry, and Vanderburgh Counties. Effective October 1, 2023, the Indiana Department of Revenue revised Departmental Notice No.

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Taxes 129

PayrollOrg

JANUARY 25, 2022

It contains important payroll tax payment and reporting dates every payroll professional needs to know during the calendar year. The APA Compliance Calendar for 2022 is now available on the APA website.

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Taxes Payroll IT 151

HR Lineup

DECEMBER 5, 2023

In the fast-paced world of taxation and financial management, staying ahead of the curve is crucial for tax professionals. As we step into 2024, the demand for efficient, user-friendly, and comprehensive tax practice management software has never been higher.

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Taxes Software Management Electronics 71

McDermott Will & Emery Employee Benefits

JULY 17, 2024

Spin-offs have become increasingly popular with innovative companies as a method of unlocking shareholder value, but the transaction is not always tax-free, particularly for international employees holding equity awards or shares.

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Taxes Employee Benefits Insurance 52

PayrollOrg

NOVEMBER 21, 2023

Need help with local payroll taxes? Check out this great local payroll compliance research tool from PayrollOrg, updated for 2024!

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Taxes Payroll 104

Employee Benefit News

MARCH 25, 2024

The IRS standard rate influences tax deductions, business operations, compliance requirements, financial planning and employee compensation strategies.

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Taxes Deductible Deductions Employee Compensation 109

HR Digest

JUNE 23, 2023

Imagine a scenario where you are rewarded with a hefty sum of $26,000 per employee, just by gathering some data and filling out a tax form. Well, this isn’t a fantasy, it’s the reality of the Employee Retention Tax Credit (ERC). Your ERC Tax Credit is on its way! Sounds like a dream, right? Yes, you read that right.

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Taxes Government Employee Retention Consulting 97