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.

Taxes 97

Taxes Government Employee Retention Consulting 97

HR Digest

JUNE 16, 2023

Payroll software is a critical tool for HR professionals. It can help HR to automate many of the tasks involved in payroll processing, such as calculating employee wages, withholding taxes, and issuing paychecks. Payroll software can also help HR to comply with complex tax and labor laws.

Payroll Software 52

Payroll Software Software Payroll Taxes 52

Money Talk

JUNE 28, 2023

It’s halftime for your 2023 finances and a perfect time to review where you stand, make mid-year adjustments, and complete recommended financial planning action steps. Below are ten mid-year financial tweaks and tasks: Tax-Deferred Savings Tweak - Perhaps you will get a raise on July 1. The 2023 maximum pre-tax contribution is $3,050.

Flexible Spending Account 242

Flexible Spending Account Banking Health Savings Account Taxes 242

Business Management Daily

JUNE 3, 2023

Section 271 of the Fiscal Responsibility Acts of 2023 ( H.R. 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.

Taxes 52

Taxes Payroll Education Software 52

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 Deductible Deductions 98

Employee Benefits

MARCH 16, 2023

Spring Budget 2023: Chancellor of the Exchequer Jeremy Hunt delivered his Spring Budget speech in the House of Commons on Wednesday 15 March. It included a number of key announcements that could impact employees’ pay , pensions and benefits. appeared first on Employee Benefits.

Pension 103

Pension Taxes Government Payroll 103

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.

Deductible 98

Deductible Deductions Taxes Health Insurance 98

Patriot Software

MARCH 10, 2023

If so, you might have heard about House Bill 2526, a 2023 law that significantly cut individual income tax rates. As a result, your West Virginia income tax withholding might look a little different. Are you an employer in West Virginia? In this article, we’ll go over: What compensation is subject to withholding?

Taxes 84

Taxes Employment Payroll 84

cipHR

MARCH 14, 2024

6 April is fast approaching – and that means that payroll professionals are gearing up for tax year end. So why don’t we save you some time by giving you the lowdown on the legislative and regulatory changes for the 2024/25 tax year? It’s one of the busiest times of the year, and every minute is precious right now.

Payroll 52

Payroll Parental Leave Taxes Deductible 52

Business Management Daily

JANUARY 11, 2023

Nevertheless, 2023 is looking like another challenging year for Payroll as we get a few insights into what to expect. If your per diems clock in at or under the GSA’s rates and employees substantiate the time, place, and business purpose of their trip, your reimbursements are tax-free. Final e-filing regs.

Payroll 52

Payroll Medical Healthcare Overtime 52

CorpStrat

JANUARY 17, 2023

DOWNLOAD OUR FREE PDF DETAILING 2023 LIMIT INCREASES: DOWNLOAD PDF. This Compliance Overview includes a chart of the inflation-adjusted limits for 2023. Due to high rates of inflation, all of these limits will substantially increase for 2023. Health FSA pre-tax contribution limit. Health flexible spending accounts (FSAs).

401(k) 52

401(k) Employee Benefits Flexible Spending Account Health Savings Account 52

HR Lineup

OCTOBER 16, 2023

In 2023, the demand for efficient HRMS (Human Resource Management System) software is higher than ever. This article presents the 10 best HRMS software options for 2023. Top 10 HR Management Software for 2023 1. Deel also assists in compliance with local labor laws and tax regulations. What is an HRMS System?

Human Resources 70

Human Resources Software Management Payroll 70

cipHR

MARCH 27, 2023

If you’re considering payroll outsourcing UK, it’s likely you will encounter plenty of jargon on your journey to finding the right outsourced payroll provider. Don’t forget to check out our top 10 tips for choosing the right outsourced payroll company. These are sometimes taxable, which means they will appear on payslips.

Payroll 52

Payroll Outsourcing Payroll Payroll Software Family and Medical Leave Act 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 88

Taxes Employment Human Resources Payroll 88

HR Lineup

OCTOBER 5, 2023

HR software has become an indispensable tool for small businesses in 2023, streamlining various HR functions such as payroll, employee onboarding, time tracking, and performance management. To help you make an informed decision, here are the top 10 HR software options for small businesses in 2023.

Software 52

Software Payroll Software Payroll Global Payroll 52

CorpStrat

NOVEMBER 4, 2022

Don’t leave your Year-End Payroll to the last minute. Even if you’re a Year-End Payroll veteran, it can still be easy to overlook crucial steps. What is Year-End Payroll? Businesses are responsible for Year-End Payroll. Verify Tax Form Information. Set-up Bonus Payrolls. Add Fringe Benefits.

Payroll 52

Payroll Bonuses Deductible Deductions 52

WEX Inc.

OCTOBER 4, 2023

As we celebrate this anniversary on HSA Day 2023 , it is clear that HSAs have become an integral part of the employee benefits landscape. And check out our HSA Day 2023 Benefits Buzz podcast episode with Chris Byrd, senior vice president health executive at WEX, below. “Out-of-pocket It is not legal or tax advice.

Health Savings Account 64

Health Savings Account Healthcare Education Taxes 64

InterWest Insurance Services

MAY 12, 2022

The IRS has announced significantly higher health savings account contribution limits for 2023, with the amount increasing more than 5% for individual HSA plans. Here are the new figures for 2023: HSA annual contribution limit. They can put money into their HSA through pre-tax payroll deduction, deposits or transfers.

Health Savings Account 96

Health Savings Account Deductible Deductions Health 96

cipHR

OCTOBER 14, 2022

The announcements made in the mini-budget had a significant impact on payroll calculations, in an already unusual year. We have a further mid-year change to national insurance (NI) with impact for employers, employees, payroll suppliers and HR and payroll teams. Income tax changes. IR35 reforms changes.

Payroll 52

Payroll Outsourcing Payroll Taxes Government 52

Employee Benefits

AUGUST 7, 2024

It is no surprise the government is mandating the payrolling of benefits in kind (BIK) and expenses, with paper P11D submissions being abolished in April 2023. However, mandating payrolling of BIKs was introduced by a previous government; will Labour agree and pursue an implementation date of April 2026?

Employment 59

Employment Payroll Software Payroll Taxes 59

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. 3, 2023: $2,250,000 ÷ 3 quarters = $750,000.

Taxes 100

Taxes Employment Management IT 100

Bayzat

MARCH 21, 2023

Last Updated on March 21, 2023 by user In-House Payroll vs Outsourcing Payroll Software: Which is Better? Payroll management software is at the top of the list for most businesses. The tool can make payroll a breeze, keep employees happy, and reduce the number of costs associated with running a successful business.

Outsourcing Payroll 52

Outsourcing Payroll Payroll Software Payroll Software 52

Money Talk

AUGUST 16, 2023

Tax on Social Security Benefits - Those who work and claim benefits will trigger taxes with a combined income above $25,000 (individuals) or $32,000 (married couples filing jointly). Continued FICA Tax - Like all workers, employed older adults must pay Social Security/ Medicare tax.

Taxes 130

Taxes Pension Deductible Deductions 130

Bayzat

APRIL 14, 2023

Last Updated on April 14, 2023 by user Managing payroll and accounting can be time-consuming and complex. That’s why we offer a comprehensive integration solution that seamlessly connects your payroll and accounting systems, making it easier to manage your finances and pay your employees accurately and on time.

Payroll 52

Payroll IT Finance Taxes 52

Business Management Daily

SEPTEMBER 1, 2023

Beginning with catch-up contributions to be made next year, employees whose Social Security wages (W-2, Box 3 wages) exceed $145,000 this year can make catch-up contributions on a Roth, after-tax basis only. And then there’s the teeny, tiny glitch of Congress dropping the section of the tax code allowing any catch-up contributions.

401(k) 97

401(k) Taxes Payroll Software Payroll 97

cipHR

MAY 24, 2022

April is always a busy time of year for payroll professionals – and it was no exception for CIPHR’s dedicated payroll bureau team, who ensure that our customers’ payrolls are processed accurately and on time each month. Recap of changes for the 2022/23 tax year. Scottish income tax is determined by the residency.

Payroll 52

Payroll Pension Taxes Deductible 52

HR Lineup

OCTOBER 25, 2023

As we step into 2023, retirement planning has become more critical than ever. In this article, we’ll explore the top 10 401(k) providers for 2023, each offering unique features and benefits to help you make an informed decision. 10 Best 401(k) companies of 2023 1. What is a 401(k)?

401(k) 52

401(k) Retirement Plan Taxes Education 52

Employee Benefits

NOVEMBER 17, 2022

from April 2023. for 2023, representing a pay rise of more than £1,600 for the average full-time employee. ” Alan Price, chief executive officer (CEO) of BrightHR, said: “Employers should work with HR and payroll teams to implement the change and communicate it with the wider workforce.

Government 105

Government Commissions Consulting Payroll 105

Employee Benefits

OCTOBER 31, 2023

Whilst a workplace pension provides a savings vehicle for retirement, many organisations want to put in place a tax efficient savings option for those looking to save in general and build financial resilience. This will provide employees with a convenient, flexible and tax efficient way to invest. million employees.

Deductible 98

Deductible Deductions Banking Taxes 98

Employee Benefits

DECEMBER 13, 2022

The government announced in the recent mini Budget that it intended to scrap the off payroll working rules from 6 April 2023. The off payroll working rules, often referred to as IR35, were changed for the public sector in 2017, when liability for determining the tax position fell to the entity engaging the consultant.

Payroll 52

Payroll Taxes Consulting Government 52

Qandle

OCTOBER 27, 2023

This comprehensive guide explores the top 10 HR automation tools in India for 2023, shedding light on their features, benefits, and how they are reshaping the HR domain. Keka Keka HRMS simplifies payroll management, leave tracking, and employee engagement. Looking for the Best HR Tool ? Check out the HR Tool.

Human Resources 78

Human Resources Technology Software Payroll 78

HR Lineup

JULY 10, 2023

However, choosing the best HR software for your business in 2023 can be a daunting task, given the plethora of options available. How to Choose an HR Software System in 2023? Payroll management: Integration with payroll processes, including calculating wages, taxes, deductions, and generating payslips.

Software 52

Software Payroll Payroll Manager Payroll Software 52

CorpStrat

NOVEMBER 25, 2022

Here are our top tips for building a strong Benefits strategy going into 2023: 1. Employees are now expecting Dental, Vision, AFLAC, pre-tax plans, virtual care, as well as Cafeteria Plans for payment of medical expenses and dependent care. Be sure you package your programs and communicate them throughout the course of 2023.

PTO 52

PTO Retirement Plan Benefits Package Medical 52

CorpStrat

OCTOBER 26, 2022

workers reported that they will cut back on the Benefits they select during 2023’s Open Enrollment because of inflation. Let’s take the Health FSA Limit Increase for 2023 as an example. The post Inflation’s Impact on 2023 Open Enrollment appeared first on CorpStrat: HR | Payroll | Employee Benefits.

Flexible Spending Account 52

Flexible Spending Account Finance Flexible Spending Salary 52

InterWest Insurance Services

DECEMBER 7, 2023

Earlier in 2023, the IRS also announced the maximum contribution limits to health savings accounts, which are similar to FSAs, but they must be attached to a high-deductible health plan. The annual limits on HSA contributions in 2024 are $3,850 for individuals and $8,300 for families, both up more than 7% from 2023’s limits.

Flexible Spending Account 86

Flexible Spending Account Flexible Spending Pharmaceutical Health Savings Account 86

Patriot Software

DECEMBER 12, 2022

And beginning in 2023, the Colorado paid family leave program takes effect. It means you have a new payroll tax […] READ MORE. Back in 2020, Colorado voted to implement its own Paid Family and Medical Leave Insurance (FAMLI) program. What does this mean for Colorado employers?

Taxes 76

Taxes Payroll Medical Insurance 76

Higginbotham

DECEMBER 8, 2023

A Premium Only Plan is an option that may offer significant tax savings for all involved parties. With a POP plan, employees can use their pre-tax compensation to buy a group insurance plan or other qualifying benefit. This allows employees to pay using pre-tax dollars. per hour in June 2023. What is a Premium Only Plan?

Deductible 52

Deductible Deductions Taxes Payroll 52