Money Talk

APRIL 4, 2024

All other tax-deferred plans, like 401(k)s and the thrift savings plan (TSP), must have RMDs calculated separately. Financial Trauma - The textbook definition is any negative experience that affects how people handle money (e.g., When you do a Roth conversion, you are front-loading taxes to avoid taxes at higher rates later.

401(k) 196

401(k) Taxes Finance Education 196

Ahmed's Universe

SEPTEMBER 28, 2013

The only thing growing at double-digit figures in Brazil are prices There are several reasons why prices are so high: poor infrastructure, red tape, high taxes, low productivity. I would single out two of these: high taxes and low worker productivity. High taxes are not in and of themselves a bad thing.

Taxes 295

Taxes Transportation Education Hospitality 295

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.

Deductions 98

Deductions Deductible Taxes Health Insurance 98

Qandle

JANUARY 29, 2025

For companies of all sizes, adhering to labor rules, tax laws, and industry standards is a major challenge. These laws may include tax regulations, labor laws, social security contributions, and employee benefits mandates. They can also change frequently due to updates in labor laws, tax codes, or social security policies.

Payroll Software 90

Payroll Software Software Payroll Overtime 90

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 Deductible Deductions 98

Patriot Software

JANUARY 27, 2020

And, one of your employer responsibilities with payroll is withholding certain taxes, such as SUTA tax. But, what is SUTA tax? What is SUTA tax? The State Unemployment Tax Act (SUTA) tax is a type of payroll tax […]. The post What Is SUTA Tax?

Taxes 48

Taxes Employment Payroll Software 48

Money Talk

OCTOBER 6, 2022

Below is a list, in no particular order, of insights, facts, and recommendations that stood out to me as being original, significant, and/or useful: New Definition of Retirement- The word “retire” does not necessarily mean “stop working.” Each has a different type of tax treatment. net investment income tax (NIIT).

Taxes 188

Taxes Finance Education Retirement Plan 188

Benefit Resource Inc.

MARCH 12, 2019

This may be the shortest blog on pre-tax benefits you will ever read. We’re going to take 5 minutes to redefine 9 confusing pre-tax phrases used in pre-tax benefits. Pre-tax benefits. Pre-tax benefits are, in effect, a way to decrease your income before taxes so you pay less in taxes.

Taxes 63

Taxes Flexible Spending Account Health Savings Account Medical 63

Patriot Software

MARCH 13, 2019

As an employer, you are likely familiar with reporting regular wages and taxes withheld on Form W-2. Imputed income is adding value to cash or non-cash employee compensation to accurately withhold employment and income taxes. Employers must add imputed income to an employee’s gross wages to accurately withhold employment taxes.

Payroll 51

Payroll Net Pay Taxes Online Payroll 51

Money Talk

DECEMBER 21, 2022

Buy and hold investing can often outperform actively-managed investing because trading expenses are reduced and capital gains taxes are deferred. For additional definitions of financial and investing terms, review this glossary from Rutgers Cooperative Extension. Simply divide 72 by the specified time period.

401(k) 180

401(k) Banking Food Deductible 180

Patriot Software

OCTOBER 20, 2022

Non-taxable wages are wages given to an employee or individual without any taxes withheld (income, federal, state, etc.). The IRS definition of a non-taxable wage and other tax-exempt income is fairly narrow. However, most wages that you pay out to your employee(s) are taxable. So when are wages non-taxable?

Taxes 90

Taxes Payroll 90

InterWest Insurance Services

JULY 26, 2022

Tax-deductible premiums. No prior year tax returns or income verification are required. More restrictive definitions. With disability insurance policies, the definition of the word “disability” in the contract itself is of paramount importance. Easy, streamlined administration. List billing.

Disability Insurance 95

Disability Insurance Insurance Carriers Insurance Deductible 95

WEX Inc.

MARCH 14, 2023

If you’re new to participating in an LSA, you may have questions about LSA definitions and rules. An LSA is an employer-funded, post-tax spending account, with eligible expenses and plan details customized by your employer. Your taxable income will increase if you spend funds from your LSA, but any unused funds will not be taxed.

Taxes 98

Taxes Consulting Education Employment 98

Genesis HR Solutions

MARCH 31, 2022

In this article, we’re honing in on one of the most important aspects of working with a PEO—the tax perspective. Not realizing the importance of details related to finances, payroll, and taxes presents one of the biggest risks for growing companies. Tax/Financial Differences Between Working With A PEO Vs. A CPEO.

Taxes 52

Taxes Professional Employer Organization 401(k) Finance 52

HR Bartender

SEPTEMBER 9, 2018

Jessica, let’s start with a definition. From your definition, it sounds like blockchain has been around for a while. At the other end of the human capital management (HCM) lifecycle, payroll and tax can also benefit from blockchain. Jessica and I had the chance to talk during SHRM’s annual conference in Chicago.

Human Resources 158

Human Resources Technology Payroll Architecture 158

HR Bartender

JANUARY 25, 2015

In my experience, I’ve seen situations get labeled as “conflict of interest” or “unethical” because they look wrong, but the situation doesn’t hold up to the definition. I did a quick Google search and here are some definitions: Conflict of interest is a situation where the concerns of the two different parties are incompatible.

Human Resources 124

Human Resources Salary Deductions Deductible 124

Qandle

SEPTEMBER 20, 2024

Payroll services ensure accurate and timely payment of wages, managing deductions, benefits, and tax withholdings. Definition and Purpose A Human Resource Management System (HRMS) is a software solution designed to manage and streamline various HR functions within an organization. How does HRMS ensure compliance with tax regulations?

Payroll Manager 105

Payroll Manager Payroll Payroll Software Management 105

WEX Inc.

FEBRUARY 15, 2023

If you’re a first-time medical FSA participant, you may not be familiar with FSA definitions and rules. A medical FSA is a tax-advantaged employee benefit that gives participants the opportunity to save on out-of-pocket medical, dental, and vision eligible expenses. It is not legal or tax advice.

Medical 98

Medical Flexible Spending Account Flexible Spending Taxes 98

Proskauer's Employee Benefits & Executive Compensa

MAY 23, 2023

The Tax Court’s May 3, 2023, decision in ES NPA Holding, LLC v. As background, Revenue Procedure 93‑27 provides a “safe harbor” definition of a profits interest. While the Tax Court’s decision can be interpreted as being generally consistent with market practice, there are meaningful nuances to the Tax Court’s decision.

Taxes 52

Taxes Incentive Compensation Executive Compensation IT 52

Florida Workers' Comp

AUGUST 29, 2024

The question can be easily answered definitively, as above, with “it depends.” Across the country, there are dozens of definitions of "employee," and the specific state law must be analyzed and examined. Any of them might provide a specific designation or definition regarding who is or is not a “employee.”

Workers’ Compensation 80

Workers’ Compensation Compensation System Taxes Benefits Package 80

HR Bartender

APRIL 11, 2023

AI can see that their skills are a good match, but they’d be a stronger match if they took a tax-related course unique to that company’s industry. A talent intelligence platform is definitely an investment that requires executive sponsorship. Let’s say an employee sees an internal role open in the finance department.

Technology 186

Technology Media Recruitment Finance 186

Business Management Daily

AUGUST 26, 2024

Therefore, implementing job shadowing at your organization will ensure that your employees end up in the positions that are best for them, which is a definite plus. Options include working with taxes, handling accounts payable, and performing financial planning, to name a few.

IT 52

IT Healthcare Construction Finance 52

Business Management Daily

AUGUST 8, 2022

As financial statements, tax returns, and similar types of records will be a concern for all organizations, including your CPA or a similar accounting professional on the team is a smart move. If you have employees, you must keep all employment tax records for at least 4 years after the date the tax becomes due or is paid, whichever is later.

Family and Medical Leave Act 105

Family and Medical Leave Act Taxes Deductible Deductions 105

Proskauer's Employee Benefits & Executive Compensa

DECEMBER 2, 2022

Most notably, the program has been expanded to include section 403(b) tax-sheltered annuity plans (“403(b) plans”). While not the focus of this blog post, the IRS also harmonized and extended certain “remedial amendment periods” across individually designed 401(a) and 403(b) plans and updated and restructured certain related definitions.

Taxes 84

Taxes Employment Retirement Plan Pension 84

Qandle

APRIL 7, 2022

Payroll administration is the difficult task of keeping track of your employees’ financial data, such as pay, benefits, taxes, and deductions. Calculating your employees’ salary, issuing payments, preserving payroll records, and collecting tax forms are all part of payroll management. Avoid late payments and mistakes.

Payroll Service 98

Payroll Service Payroll Payroll Software Management 98

Business Management Daily

OCTOBER 11, 2021

They may struggle with the definition of “reasonable accommodations” or who exactly qualifies for assistance. Item 3: Examine the definition of “reasonable” and of “undue hardship”. The rest typically cost only $500, and tax incentives are available to help employers cover costs. Next, consider the definition of “undue hardship.”

Family and Medical Leave Act 105

Family and Medical Leave Act Human Resources Medical Consulting 105

Qandle

JULY 10, 2024

Essentially, a PEO becomes the employer of record for tax and insurance purposes, allowing client companies to focus on core business activities while the PEO handles administrative burdens. They stay updated with labor laws, handle payroll taxes, and manage employee documentation to mitigate legal risks for client companies.

Professional Employer Organization 105

Professional Employer Organization Employment Benefits Package Payroll 105

HR Digest

FEBRUARY 20, 2020

Some of the pros of offering retirement benefits to employees include: The organization can receive proper tax advantages for the business. The pension rules are complicated, and tax-related basics of retirement benefits can confuse an employer. It must be permanent- which means it cannot have a planned and definite expiration date.

Pension 87

Pension Retirement Plan Taxes Pension Benefit 87

Benefit Resource Inc.

MARCH 5, 2019

Every employer in the State of New Jersey that employs at least 20 people shall offer all employees the opportunity to utilize a pre-tax transportation fringe benefit (AKA a commuter benefit plan) as defined by Section 132(f) of the Internal Revenue Code. This mirrors the definition used in unemployment compensation law.

Transportation 85

Transportation Commissions Government Utilities 85

Employee Benefits

AUGUST 12, 2024

The firm wrote to Henderson advising that a recent review of her claim found her symptoms no longer met its definition of incapacity, stating: “the policy definition which states an individual must continue to be incapacitated by illness or injury from carrying out their own occupation”.

Management 105

Management Pension Medical Insurance 105

Business Management Daily

AUGUST 2, 2022

They are also typically responsible for the payroll taxes that the employer would typically pay including the employer’s share of Medicare taxes and Social Security taxes. When hiring independent contractors, payroll taxes require different end-of-year tax forms. Consult an attorney.

Employment 98

Employment Taxes PTO Overtime 98

Employee Benefits

NOVEMBER 22, 2023

For an employment tribunal to determine that disability discrimination has taken place, it must first consider whether the claimant’s impairment meets the definition of disability under the Equality Act: a physical or mental impairment that has a substantial and long-term effect on their ability to carry out daily activities.

Deductible 144

Deductible Deductions Medical Employee Benefits 144

Ahmed's Universe

MAY 26, 2010

Cut that in half and suddenly the dreariest of HR jobs becomes, well, not exactly the most glamorous one, but definitely less taxing. And imagine what you can do with payroll simulation, a key requirement when negotiating wage raises with unions.

Technology 150

Technology Architecture Payroll Software 150

Business Management Daily

NOVEMBER 2, 2020

New Centers for Disease Control (CDC) guidelines offer an updated definition of “close contact.” For employers, the “close contact” definition comes into play when tracing contacts in the workplace. Sick children definitely qualify. The change may seem minor, but it will have a large impact on employer’s reopening plans.

Family and Medical Leave Act 98

Family and Medical Leave Act Paid Sick Leave Paid Leave Medical 98

Employee Benefits

AUGUST 19, 2024

Jeff Fox, strategic consulting lead at Lockton People Solutions, says: “To-do lists are definitely going to get bigger and more complicated. It does depend what the definition of exploitative is.” “I expect we’ll see changes to pensions, perhaps a 30% cap on tax relief.”.

Government 104

Government Pension Employment Consulting 104

Money Talk

JUNE 30, 2021

Taxes: It’s Not What You Earn, But What You Keep Consult with a CPA® or financial advisor the first tax season after leaving work to get a professionally prepared template tax return. A New Definition of Busy Identify one or more high-priority “big rocks”; i.e., activities that take a big chunk of time.

Consulting 100

Consulting Taxes Media Employment 100

Business Management Daily

JULY 23, 2021

A popular option for hybrid workforces is hoteling (I had to google for a definition) — employees reserve office space in advance. There may be a benefit in having corporate tax/ payroll /benefits sharing some space. Consider cooperating with other departments.

Payroll 98

Payroll Work From Home Taxes Employment 98