Payroll/Taxes

Payroll/Taxes · February 12, 2024
Many businesses, their accountants and advisers have been wondering what's happening with the employee retention credit, a refundable tax credit for businesses and tax-exempt organizations that had employees and were affected by the COVID-19 pandemic. In recent weeks, the IRS has been focusing on weeding out companies that applied but were not eligible.
Payroll/Taxes · February 05, 2024
Below are federal payroll tax rates and benefits contribution limits for 2024.

Payroll/Taxes · January 18, 2024
Workers who are considered employees do not have to pay their own taxes during the year. Instead, employers withhold income tax from their employees’ paychecks and pay it to the IRS on behalf of the employee.
Payroll/Taxes · October 09, 2023
An unorganized and inefficient payroll process is a recipe for eventual disaster. If you rely on paper processes, both manual data entries and a massive number of spreadsheets can yield more errors than most people realize.

Payroll/Taxes · July 31, 2023
Let's say you have employees who experienced a major life change within the past year. Whether it be switching jobs, getting married or increasing the number of people in their family, there are many reasons why someone might be eligible for the Earned Income Tax Credit.
Payroll/Taxes · July 24, 2023
Despite the controversy surrounding it, cryptocurrency remains a hot topic. In the employment world, a top question is whether employers can pay employees in cryptocurrency. Before we determine this, let’s explore “cryptocurrency” a bit.

Payroll/Taxes · July 10, 2023
On Jan. 1, the minimum wage increased in 23 states. From a 23-cent increase in Michigan to an increase of $1.50 in Nebraska, people who earn minimum wage are celebrating in many places across the nation.
Payroll/Taxes · June 26, 2023
More than ever, as rising inflation chips away at disposable income, a pay raise can help plug the gap. The 2023 Social Security cost-of-living adjustment is 8.7%. When times are tough, some extra dollars can remind employees that management has not forgotten them.

Payroll/Taxes · June 20, 2023
Employers generally must withhold income tax from employees' wages. To figure out how much tax to withhold, you need to use the employee's Form W-4, the appropriate method and the appropriate withholding table described in Publication 15-T, Federal Income Tax Withholding Methods. You'll deposit your withholdings based on your business and the amount you withhold.