Proskauer's Employee Benefits & Executive Compensa

JANUARY 30, 2023

As part of our continuing series on SECURE 2.0 , signed into law December 29, 2022, this post focuses on significant changes for section 403(b) tax-sheltered annuity plans (“403(b) plans”). These changes are effective for plan years beginning after December 31, 2024. Eligibility of Long-Term Part-Timers SECURE 1.0 However, SECURE 2.0

401(k) 111

401(k) Taxes Retirement Plan Commissions 111

HR Digest

FEBRUARY 26, 2024

Another aspect of the changes at Expedia Group appears to be the news that Peter Kim will soon be stepping down from his role as CEO by May 13, 2024. The Expedia cash expenditures and total pre-tax charges are expected to range between $80 million USD to $100 million USD.

Technology 105

Technology Commissions Taxes IT 105

InterWest Insurance Services

JUNE 20, 2023

1, 2024 will have 30 days from their formation to file reports. Exemptions Businesses that are exempt from the reporting requirements include: Issuers registered with the Securities and Exchange Commission. Tax-exempt entities or certain entities that assist tax-exempt entities. Starting Jan. Accounting firms.

Banking 87

Banking Utilities Commissions Insurance 87

Employee Benefits

NOVEMBER 17, 2022

In his autumn budget address to the House of Commons, Chancellor of the exchequer Jeremy Hunt (pictured) stated that he had accepted recommendations made by the Low Pay Commission to increase the national living wage to £10.42 Autumn budget 2022: The government has agreed to raise the national living wage by 9.7% from April 2023.

Government 105

Government Commissions Consulting Payroll 105

Employee Benefits

AUGUST 1, 2024

Defence and security technology firm Ultra Electronics and Norchem Healthcare have been named as some of the employers that have missed deadlines to report their 2023-2024 gender pay gap data. The EHRC can seek a court order to impose an unlimited fine if organisations do not report the data.

Commissions 59

Commissions Employment Electronics Healthcare 59

Empuls

MARCH 23, 2023

At a time when the world was grappling with a health crisis, what could an employee retention tax credit have done? How did the employee retention tax credit or erc originate? What is the employee retention tax credit? So, the ERC turned into a huge tax relief for businesses that faced harsh times at the onset of the pandemic.

Employee Retention 40

Employee Retention Taxes Government Payroll 40

Higginbotham

MAY 31, 2024

A statutory employee is a worker who would be considered an independent contractor under common law rules but must be treated as an employee for certain tax purposes. Businesses are responsible for paying employment taxes and collecting payroll taxes for their employees. Two groups of drivers fall into this category.

Life Insurance 52

Life Insurance Taxes Overtime Insurance 52

Higginbotham

NOVEMBER 15, 2023

IRS Announces 2024 FSA, Retirement Plan Limits Earlier this month, the Internal Revenue Service (IRS) released cost-of-living adjustments and inflation-adjusted limits for 2024 that affect amounts employees can contribute to health flexible spending accounts (FSAs), 401(k) plans and individual retirement accounts (IRAs).

401(k) 52

401(k) Retirement Plan Flexible Spending Account Insurance 52

HR Digest

FEBRUARY 6, 2024

The information on the company’s decision was revealed in a filing with the Securities And Exchange Commission (SEC) on 5 February 2024. The app is among the top 10 most popular social media apps as of January 2024, and while it is significantly behind the top 5, its 750 million active users are no small feat.

Media 52

Media Commissions Taxes IT 52

HR Digest

AUGUST 1, 2024

As of July 1, 2024, employees have to earn more than $844 USD per week or $43,888 per year to be classified as exempt employees. These workers are paid an hourly wage but some of them may be paid a salary or commission wage as well. This threshold will go up on January 1, 2025, to $1,128 USD per week to $58,656 USD per year.

Overtime 52

Overtime Salary Commissions Taxes 52

Higginbotham

APRIL 10, 2023

ACA Reporting: Most Employers Must File Electronically Beginning in 2024 The ACA created reporting requirements under Internal Revenue Code (Code) Sections 6055 and 6056. This means most reporting entities will be required to complete their ACA reporting electronically starting in 2024. However, on Feb.

Electronics 52

Electronics Commissions Government Taxes 52

Proskauer's Employee Benefits & Executive Compensa

MARCH 16, 2023

of the California Labor Code, an “owner, director, officer, or managing agent” of an employer may be held personally liable for violating or causing a violation of any provision of the Labor Code relating to minimum wages or hours and days of work in any Wage Order of the Industrial Welfare Commission.

Banking 52

Banking Payroll 401(k) Health and Welfare 52

Higginbotham

JULY 25, 2023

The proposed rule would also clarify the tax treatment of certain benefit payments in fixed amounts received under employer-provided accident and health plans. Higginbotham will be submitting comments on these proposed regulations and will keep you informed of any changes prior to them being finalized.

Overtime 52

Overtime Health Insurance Insurance Medical 52

Money Talk

JANUARY 23, 2025

As I noted in last weeks post , I recently presented a 90-minute 2024 Personal Finance Year in Review webinar for OneOp, and, after the webinar, answered follow-up questions from webinar participants. Congress and the IRS know that many owners of tax-deferred retirement accounts (e.g., the so-called stretch IRA). adult children).

401(k) 176

401(k) Commissions Finance Taxes 176

Money Talk

NOVEMBER 27, 2024

I recently returned home from the 2024 Symposium of my professional “home,” the Association for Financial Counseling and Planning Education® or AFCPE®. gig workers in 2024 or 38% of the total workforce. Securities and Exchange Commission (SEC), Consumer Financial Protection Bureau (CFPB), U.S. There are about 63 million U.S.

Education 112

Education Financial Counseling Finance Banking 112

HR Digest

JULY 5, 2024

Earlier this year, the Federal Trade Commission decided to take serious action against businesses forcing employees to sign non-competes as it believed the decision would “lead to new business formation growing by 2.7 The FTC’s non-compete ban has been delayed by a judge in Texas this week. The coalition includes the likes of the U.S.

Commissions 52

Commissions Government Taxes Employment 52

Workers' Compensation Perspectives

MARCH 10, 2025

At a recent personal injury/disability management conference, a panel moderator told delegates, The topics on our agenda today are strikingly similar to those on the conference agenda from a decade ago (Rebecca Harris, GM Regulatory Services WorkCover WA at PIEF Conference, Perth: October 2024 [paraphrased]).

Workers’ Compensation 52

Workers’ Compensation Compensation System Commissions Medical 52

WEX Inc.

MARCH 6, 2025

In 2024, 17 million EVs were sold and about 45% of those sales happened in China. From 2009 to 2022, the Ministry of Industry and Information Technology (MIIT) and the National Development and Reform Commission (NDRC) poured $29 billion in government subsidies and tax breaks into Chinas economy for EV technology and infrastructure.

Technology 52

Technology Manufacturing Mining Transportation 52

WEX Inc.

FEBRUARY 4, 2025

Introduction As of Q3 2024, the United States had nearly 192,000 public electric vehicle (EV) charging ports making it easier and more accessible for American businesses to add electric vehicles to their fleets. Federal EV Tax Credit provides up to $7,500 for qualifying vehicles ( U.S. For instance, the U.S. Internal Revenue Service ).

Transportation 52

Transportation Manufacturing Engineering Mining 52