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. Your make-up payments must be made separately from your other tax deposits. If you deferred depositing your 6.2% 3, 2022, and Jan.

Taxes 100

Taxes Employment Management IT 100

Patriot Software

JANUARY 13, 2020

Like past years, the IRS released changes to the income tax withholding tables for 2020. In addition to new wage brackets, there are significant changes to how employers will handle tax withholding. These changes are in response to the Tax Cuts and Jobs Act of 2017.

Taxes 102

Taxes Software Employment Payroll 102

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.

Bonuses 98

Bonuses Taxes Deductions Deductible 98

Money Talk

SEPTEMBER 9, 2021

We are now 18 months (March 2020- September 2021) into the pandemic. Topics to be covered in the webinar include inflation, budgeting, taxes, investments, and charitable gifting. I can personally name at least a dozen colleagues who recently left long-time employers to pursue new career paths.

Finance 242

Finance Education Work From Home Taxes 242

HR Digest

JANUARY 8, 2020

Does this mean you’ll get an extra paycheck in 2020? Does this mean you’ll earn more than your annual salary in 2020? Or will the amount of each paycheck in 2020 be lower than in 2019? It depends on how your employer will manage this unusual year. At PenFed, our 27 th paycheck will fall on December 31, 2020.

401(k) 81

401(k) Gross Pay Deductions Deductible 81

Business Management Daily

AUGUST 17, 2020

President Trump’s executive order suspending the employee portion of Social Security taxes, issued two weeks ago, left many employers wondering what to do. Then, the Treasury Department offered some clarity on the payroll tax. We’ve spent the better part of this week reading other tax lawyers’ opinions about this.

Taxes 81

Taxes Payroll Payroll System Payroll Software 81

Flimp Communications

FEBRUARY 7, 2020

We’re in the middle of tax season now and April 15th is closing in fast. For many full-time employees , filing their taxes every year isn’t all that difficult. Conversations about financial wellness need to start somewhere, so why not take advantage of the opportunity tax season affords you? 2020 Tax Season Changes.

Taxes 75

Taxes 401(k) Health Savings Account Finance 75

Benefit Resource Inc.

JANUARY 16, 2020

Incorporating lifestyle components into pre-tax accounts. So, how will this affect tax advantaged accounts like Flexible Spending Accounts and Health Reimbursement Accounts? Tools like HSA Bridge allows employees to pay for qualified expenses with tax-free money before their HSA balance has built up. What’s on the horizon?

Health Savings Account 73

Health Savings Account Flexible Spending Account Flexible Spending Taxes 73

Business Management Daily

DECEMBER 1, 2019

1 payday back into 2020, you’d still have 27 biweekly pay periods, this time in 2021. Although most companies choose this option, it may be a costly decision, since employees will receive an extra paycheck, along with extra taxes withheld and extra benefits provided. 1, 2021, is a holiday. Twist: If you don’t push the Jan.

Payroll 83

Payroll 401(k) Deductions Deductible 83

InterWest Insurance Services

MARCH 22, 2022

The deadline is fast approaching for employers with 5 or more workers in California, and who do not already offer their employees a retirement plan, to register their staff for the CalSavers Retirement Savings Program. Employers with 50 or more workers – The deadline for registration was June 30, 2021. Employers can register here.

401(k) 98

401(k) Retirement Plan Employment Deductions 98

BerniePortal

JANUARY 22, 2020

Trying to beat the tax time rush? Mid-January marks the start of tax season! Employees have likely already received their W-2s (January 31 deadline) and are preparing to file for 2020. Along with the new W-4, the IRS has updated its online tax withholding estimator. Review Health Savings Account.

Taxes 64

Taxes Health Savings Account Health Insurance Medical 64

BerniePortal

JANUARY 9, 2020

On December 5, 2019, the IRS released the final version of the 2020 Form W-4, which was retitled as the Employee’s Withholding Certificate. This is the forms first major update since 2017 when Congress made sweeping changes to the federal tax system. Many have said the new form is easier for employees and MORE complex for employers.

Deductions 64

Deductions Deductible Taxes Employment 64

Global People Strategist

JUNE 29, 2020

Employment Relations Act. The Employment Relations Act covers the basic principles governing the legal protections and obligations of both employers and employees in New Zealand. Employment Law Updates. All employment rights and entitlements will apply to workers who are aged 16 or under. Payroll Changes.

Parental Leave 52

Parental Leave Employment Paid Leave Payroll 52

Best Money Moves

JULY 19, 2022

Here’s how employers can help. What can employers do to help their teams? Since the federal student loan pause started in 2020, repayment has not been top-of-mind for most Americans. Here’s how employers can help first appeared on Best Money Moves. Most Americans live paycheck-to-paycheck.

Employment 105

Employment Retirement Plan Food Taxes 105

BerniePortal

OCTOBER 13, 2020

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

Taxes 69

Taxes Payroll Employment 69

HR Bartender

FEBRUARY 22, 2022

Ensuring employees are paid in a secure, efficient, and timely manner is one of the fundamental roles of an employer. That includes compliance with employment tax payment and reporting rules with each of the various local, state, and federal agencies to avoid penalties. 3 – Reducing Risk Exposure. . #3

Taxes 132

Taxes Payroll Technology Employee Retention 132

Patriot Software

AUGUST 11, 2021

Withholding allowances used to be a way employees could adjust how much money employers take out of their paychecks for federal income tax. Although the IRS removed withholding allowances for federal income tax in 2020, they’re still out there—through pre-2020 W-4 forms and state income tax.

Taxes 98

Taxes Employment Payroll 98

Best Money Moves

APRIL 10, 2020

CARES Act: What to Know About Stimulus Payments: If you set up your tax refund with direct deposit, you should get a stimulus check from the government worth up to $1,200 or $2,400 within about a week — though if you need a paper check the wait will likely be extended. . 30, 2020, though that date may be extended with additional legislation.

Banking 122

Banking Government Taxes Payroll 122

BerniePortal

MARCH 23, 2022

Form W-4 is crucial to employee tax reporting and employer withholding. Even though there have been no meaningful updates since 2020, many employees don’t know how to fill out Form W-4 correctly—which can lead to an unpleasant surprise when a substantial tax bill comes due.

IT 98

IT Taxes Employment 98

HR Bartender

FEBRUARY 8, 2022

Here are just a handful of business, cultural, political, and technological trends impacting employers and compliance today: New technologies including artificial intelligence (AI) and machine learning are creating new opportunities for innovation, along with issues and concerns for employers to consider.

Taxes 136

Taxes Technology Finance Government 136

Employee Benefits

MARCH 27, 2023

A group personal pension is a defined contribution (DC) arrangement whereby an employer agrees to make monthly contributions into a scheme, but the contract is between the employer and the pension provider. They can access a cash lump sum; usually the first 25% of each cash withdrawal from the pot will be tax-free.

Pension 111

Pension Taxes Government Salary 111

Griffin Benefits

JUNE 22, 2022

If you’re an employer who has not yet made public your in-network negotiated rates, out-of-network billed charges, and historically allowed amounts, you have less than two weeks to complete this task. This rule came into being through a series of overlapping transparency rules passed by congress in 2020 and 2021.

Insurance Carriers 79

Insurance Carriers Employment Insurance Taxes 79

Benefit Resource Inc.

DECEMBER 2, 2021

A Dependent Care Flexible Spending Account (often shortened to ‘Dependent Care FSA’) is a pre-tax benefit account used to pay for eligible services such as preschool, summer day camp, before/after school programs, and child or adult daycare. 2022 Changes to Dependent Care. How Do I Enroll?

Flexible Spending Account 105

Flexible Spending Account Flexible Spending Taxes Employment 105

Money Talk

DECEMBER 21, 2022

The median household income in the United States was $67,521 in 2020, down from $69,560 in 2019. For example, $100 in a mutual fund or 5% of pay every payday in an employer retirement savings plan. Median Income - The median is the exact halfway point (midpoint) in a distribution of numbers from the lowest to the highest.

401(k) 181

401(k) Banking Food Deductions 181

WEX Inc.

JULY 24, 2023

That's important considering that a 65-year-old couple retiring in 2020 would need an average of $351,000 in healthcare costs throughout retirement. What employers are saying about employee finances and retirement? 65 percent of employees participate in their employers’ retirement plan.

Retirement Plan 98

Retirement Plan 401(k) Health Savings Account Taxes 98

Business Management Daily

OCTOBER 20, 2022

What was once a more straightforward question, has caused some confusion since 2020. Does local income tax withholding follow the wages or the person? If it follows the wages, you withhold taxes where the wages are earned. If it follows the person, you withhold taxes where the person earning those wages is located.

Taxes 52

Taxes Work From Home Employment Technology 52

Employee Benefits

JANUARY 12, 2022

An allocation of more than 1,000 shares with a cash value of around £500, which can be sold back to the share investment plan (Sip) tax-free in five years’ time, is available to HHC employees who work 30-hours per week or more.

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Bonuses Pension Taxes Employee Benefits 119

Business Management Daily

JUNE 22, 2020

At Tuesday’s first workshop, Payroll Changes for 2020 and Beyond , Andrew Garboden, CPP, Director of Payroll Training at the American Payroll Association and Curtis Tatum, Esq., share of Social Security taxes doesn’t affect your Social Security tax liability. The CARES Act allows any employer to defer its 6.2%

Paid Sick Leave 52

Paid Sick Leave Paid Leave Payroll Taxes 52

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.

Taxes 52

Taxes Deductions Deductible Entertainment 52

Global People Strategist

JULY 6, 2020

Preliminary recommendations have been issued in Greece in order to reduce additional tax and social security contribution amounts with the hopes of potentially attracting investments from foreign parties. These changes, if approved by government, would be processed in the summer and announced in the fall of 2020.

Taxes 52

Taxes Government Employment IT 52

Best Money Moves

FEBRUARY 10, 2023

3 Top Benefits to Help Fight Employee Burnout in 2023 Burnout is the physical or emotional exhaustion that stems from taxing work environments or difficult outside circumstances. The 2020 pandemic caused a global financial crisis that still has lasting effects to this day. Invest in comprehensive financial education.

Education 122

Education Taxes Work From Home Finance 122

WEX Inc.

MARCH 16, 2023

With an HSA, you experience a triple-tax advantage : Contributions are tax-free, earnings are tax-free, and withdrawals for eligible expenses are tax-free. HSA participants are advised to contribute the maximum amount each year because the dollars going into these accounts are tax-free. What is an HSA contribution?

Health Savings Account 98

Health Savings Account Deductions Deductible Healthcare 98

Hppy

SEPTEMBER 2, 2021

of employees in London worked at home “at some point” in 2020, with many taking this new-found way of working into the new year too. The benefits of flexible working for employers. This of course opens the doors to a world of opportunities for employers and employees alike. The post Is flexible working the future of employment?

Employment 73

Employment Work From Home Utilities Employee Retention 73

WEX Inc.

DECEMBER 3, 2024

And the CARES Act, which was signed into law in 2020, made popular over-the-counter drugs and medicines eligible for FSA funds without a prescription. Administering your own FSA can be time-consuming, so many employers turn to third-party administrators (TPAs). It is not legal or tax advice.

Flexible Spending Account 98

Flexible Spending Account Flexible Spending Medical Taxes 98

Health Consultants Group

OCTOBER 1, 2021

Just like workers in all business environments, your employees are assessing their lives, reevaluating their careers, and reconsidering their employment options. . In 2020, they surveyed 2,504 active HR professionals. Their Employee Benefits in 2020: Executive Summary report discusses their primary findings. . Dependent Care

Employee Benefits 86

Employee Benefits Family and Medical Leave Act Flexible Spending Account Health Savings Account 86

Business Management Daily

OCTOBER 14, 2021

For businesses and employers, that means end-of-year accounting and W-2 filing is right around the corner. Form W-2 is the Wage and Tax Statement that employers use to report wages paid to employees. These are the tax forms that your employees need to file their yearly tax returns. 2021 is coming to a close.

Electronics 52

Electronics Employment Taxes Payroll 52

Patriot Software

DECEMBER 12, 2022

Back in 2020, Colorado voted to implement its own Paid Family and Medical Leave Insurance (FAMLI) program. What does this mean for Colorado employers? It means you have a new payroll tax […] READ MORE. State paid family leave (PFL) programs aren’t slowing down anytime soon.

Taxes 79

Taxes Payroll Medical Insurance 79