PayrollOrg Comments on IRS Employment Tax Forms
PayrollOrg
OCTOBER 17, 2023
PayrollOrg’s Government Relations Task Force commented on the IRS’s information collection notice on federal employment tax forms in September.
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PayrollOrg
OCTOBER 17, 2023
PayrollOrg’s Government Relations Task Force commented on the IRS’s information collection notice on federal employment tax forms in September.
Money Talk
JUNE 8, 2022
Many older adults also have multiple income sources including Social Security, a pension, full-or part-time work or self-employment, withdrawals from retirement savings (including taxable required minimum distributions or RMDs), and interest, dividends, and capital gains on investments. In other instances (e.g., In other instances (e.g.,
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HR Lineup
SEPTEMBER 28, 2024
Two of the most common software solutions in this domain are the Human Resource Information System (HRIS) and Applicant Tracking System (ATS). A Human Resource Information System (HRIS) is a comprehensive software tool that serves as the backbone of HR management. What is an HRIS?
Money Talk
MAY 18, 2022
Now that 2021 income tax season has been over for a month and the dust has settled, it is time to start some serious tax planning for 2022. Planning now provides seven months to take action and/or implement changes to avoid a stressful “tax scramble” at the end of the year. assets that are taxed in different ways).
WEX Inc.
MARCH 12, 2025
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 youll 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.
HR Lineup
JANUARY 2, 2022
Filing federal and state tax returns online can be challenging and overwhelming for employers. Since the process needs to be seamless and fast, employers are looking for effective tax filing solutions. Luckily, there are tax software programs out there to simplify filing tax returns.
Money Talk
MARCH 4, 2022
All of these events impact income taxes. This post describes thirteen tax-related topics (in no particular order) that people should be familiar with in later life. Income taxes on RMDs need to be planned for with tax withholding by the plan custodian or quarterly estimated payments to the IRS.
PayrollOrg
JANUARY 17, 2022
Federal Payroll Tax Laws & Regulations. Federal Payroll Tax Laws & Regulations contains payroll-related sections of the Internal Revenue Code and Internal Revenue Service regulations. Federal Payroll Non-Tax Laws & Regulations. APAs Guide to Local Payroll Taxes. Content is updated on a regular basis.
WEX Inc.
NOVEMBER 21, 2024
Employers leveraging data-driven platforms to offer customized options will stand out regarding employee recruitment and retention. Employers that empower employees to access and use benefits on their terms will likely see higher engagement and loyalty.
HR Lineup
JULY 21, 2023
When faced with this situation, businesses have two primary options for bringing on additional personnel: Employer of Record (EOR) services and Staffing agencies. In this article, we will explore the key distinctions between Employer of Record and Staffing, shedding light on which option might be best suited for different business needs.
Money Talk
OCTOBER 11, 2023
For this post, I decided to reflect upon ten benefits of self-employment in later life that I (and other older entrepreneurs) have experienced: Additional Income - A successful business provides additional cash beyond Social Security and other expected sources of income in later life. Almost half of all U.S.
Money Talk
SEPTEMBER 14, 2023
One of the niche audiences for my business, Money Talk , is older adults grappling with financial issues such as creation of a retirement “paycheck,” paying taxes on required minimum distributions (RMDs), and simplifying financial accounts. Tax-free accounts (e.g., Tax-free accounts (e.g., Tax-deferred accounts (e.g.,
Money Talk
APRIL 14, 2022
The 2021 income tax season will soon be in the history books. With income tax calculations still fresh in our heads, this is a great time to do some tax planning for 2022. Here are 12 tax topics to consider: Itemized Deductions- Only about 10% of taxpayers can itemize since the Tax Cuts and Jobs Act went into effect in 2018.
Money Talk
MARCH 22, 2023
With 2022 income tax season well underway and almost three months already passed in 2023, now is an appropriate time to review some evergreen tax planning tools and techniques. A larger standard deduction means that taxpayers can shelter more income from income taxes. an elective surgery) that exceed 7.5%
HR Lineup
NOVEMBER 14, 2021
You see, most employers used to believe that physical or on-premise interviews were essential in making the right choice of candidates. This article lists the best employment tools 2022 to help you in managing your business effectively. This includes identifying employment tools and resources that fits right into your budget.
Money Talk
JUNE 16, 2022
If you picture retirement planning and taxes as a Venn Diagram, there is lots of overlap between these two areas of personal finance. This is true both during one’s working years (when taxpayers are saving for retirement) and later, when people are older and withdrawing taxable income from tax-deferred accounts.
HR Lineup
SEPTEMBER 24, 2024
This end-to-end process encompasses various stages of employment, including recruitment, onboarding, performance management, learning and development, compensation and benefits administration, career progression, and eventual retirement or departure from the organization.
WEX Inc.
JULY 30, 2024
But employees remain top of mind for employers, with 55% of businesses saying they will not reduce salaries if there is a recession, and 47% saying they will not reduce benefits. This can make their decision more informed and intentional. The information in this blog post is for educational purposes only. First, ask questions.
WEX Inc.
JULY 10, 2024
Did you know employers can enhance their benefits offerings by incorporating voluntary benefits? But what exactly are voluntary benefits, and how can employers design an effective plan? Voluntary benefits are additional benefits offered by employers that are typically paid for by employees. It is not legal or tax advice.
HR Lineup
APRIL 6, 2023
One of the primary challenges that companies face is navigating the complex landscape of international employment law, regulations, and compliance requirements. In this context, Global Employer of Record (EOR) services have emerged as a popular solution to manage their global workforce.
Money Talk
JULY 25, 2024
As a financial education solopreneur who works from home, I was happy join a group of kindred spirits to share information about each other’s products and services. As a financial education solopreneur who works from home, I was happy join a group of kindred spirits to share information about each other’s products and services.
WEX Inc.
OCTOBER 2, 2024
Funds you or your employer contribute to your HSA can help with this. Exploring HSAs and FSAs HSAs and medical flexible spending accounts (FSAs) let you save money because the funds you contribute to them are pre-tax. FSAs are employer-owned, meaning you may lose the funds if you change job or health plans.
WEX Inc.
OCTOBER 30, 2024
As an employer, providing a robust employee benefits package is only half the battle. Health savings accounts (HSAs) HSA participants save money by contributing funds to their HSA pre-tax. Ensure these resources highlight the triple-tax savings, long-term investment potential, and portability between jobs that HSAs offer.
HR Lineup
JULY 4, 2024
With the rising costs of transportation and the increasing awareness of environmental sustainability, commuter benefits have become an essential consideration for both employers and employees. By subsidizing these costs, employers help reduce the financial burden on employees who use public transportation to commute to work.
Flimp Communications
FEBRUARY 25, 2025
As the April tax filing deadline is nearing, Americas employees let out a collective groan. This isnt a comment on the economy or current tax policies. Tax season has always arrived with a jolt. Tax filing forces people to honestly assess their incomes, savings plans, and progress toward their financial goals.
WEX Inc.
AUGUST 29, 2024
Fertility treatments will qualify for HSA and medical FSA funds to the extent that procedures are performed on the participant, spouse, or another individual whose expenses are eligible for tax-free reimbursement. The information in this blog post is for educational purposes only. It is not legal or tax advice.
Money Talk
JUNE 5, 2024
Webinar attendees were encouraged to aim for 3 to 6 months of essential expenses in emergency savings, automate savings if possible, and put tax refunds to work by saving all or part of them. Among the statistics that were presented from various studies are the following: ¨ 37% of women have high financial knowledge (vs.
WEX Inc.
NOVEMBER 14, 2024
Health savings account An HSA is an individually owned benefits plan funded by you or your employer that lets you save on purchases of eligible expenses. Health savings accounts have a triple-tax advantage, meaning distributions for qualified medical expenses and investment returns are tax-free, and contributions are tax-deductible.
Money Talk
AUGUST 10, 2022
Tax on Social Security Benefits - Income from unretiring may push older taxpayers into the income range where tax is due on a portion of Social Security benefits. Tax Withholding Adjustments - Adding income from employment to what could be multiple streams of income in later life (e.g.,
Money Talk
OCTOBER 27, 2022
While taxpayers have until the tax filing deadline in April 2023 to contribute to an individual retirement account (IRA) for 2022, many people prefer to make all of their current year tax-saving moves before year-end. IRAs are not an investment, per se, but, rather, a special classification for tax purposes.
WEX Inc.
SEPTEMBER 19, 2024
The information in this blog post is for educational purposes only. It is not legal or tax advice. For legal or tax advice, you should consult your own legal counsel, tax and investment advisers. These include expenses such as prescription eyeglasses , contact lenses , and prescription sunglasses.
Money Talk
APRIL 20, 2023
One of my Money Talk clients is my long-time employer, Rutgers Cooperative Extension. Off-Farm Job Employer Benefits - These include a defined benefit pension, an employer retirement savings plan (e.g., 401(k), 403(b), 457 plan, and thrift savings plan), and other employer benefits (e.g., health insurance).
Money Talk
MAY 11, 2023
If taxpayers are near the top of a marginal tax bracket , RMDs can move them up to a higher tax bracket. Use of RMD Withdrawals - A chunk will pay income taxes. Multiple RMD Ages- People with tax-deferred retirement savings accounts born in 1950 or earlier have a RMD of 72 (or 70½ for those who turned 70½ prior to 2020).
Qandle
DECEMBER 11, 2023
Human Resources Information Systems (HRIS) are software solutions designed to streamline and enhance various HR functions within an organization. HRIS serves as a comprehensive database for employee information and supports a wide range of HR activities. What Is HR Information Systems ? Check out the HR Information Systems.
WEX Inc.
SEPTEMBER 26, 2024
If you’re an employer, is your in-house benefits administration team struggling to juggle the multitude of complexities behind running a successful benefits administration program? Luckily for you, we’re sharing our insights on the top four questions employers ask when considering outsourcing benefits administration. Download now!
WEX Inc.
OCTOBER 29, 2024
In the final blog post of our three-part series to educate first-time participants, we explore all the unknown voluntary benefits terms and bring clarity of information to first-time participants. Existing coverage : Review your current benefit package from your employer to avoid duplicating coverage.
HR Lineup
JUNE 9, 2024
In the rapidly evolving world of business, managing employee information efficiently is critical for organizational success. Here, we explore the ten best employee database software in 2024, evaluating their features, benefits, and potential drawbacks to help you make an informed decision. What is Employee Database Software?
Money Talk
JANUARY 18, 2023
Increased Savings Contribution Limits - Maximum limits for employer retirement plans (e.g., Marginal Tax Brackets - Income ranges in the seven marginal tax brackets ranging from 10% to 37% are inflation-based. When bracket incomes rise, people may be taxed at lower tax rates. million per individual in 2023 vs. $12.06
WEX Inc.
AUGUST 28, 2024
If you’re an employer, performing non-discrimination testing (NDT) is important when it comes to offering benefits to your employees. Testing shows whether or not your tax-advantaged plans are discriminating in favor of highly compensated employees or key employees. What is non-discrimination testing?
WEX Inc.
DECEMBER 3, 2024
Administering your own FSA can be time-consuming, so many employers turn to third-party administrators (TPAs). Our WEX benefits card automatically approves any FSA purchases of eligible expenses when used at merchants with an Inventory Information Approval System (IIAS). It is not legal or tax advice.
Money Talk
MARCH 24, 2022
This post describes ten things that older women need to consider about personal finance during the second half of their financial life: ¨ Unique Financial Characteristics - Women are more likely than men to have gaps in their employment history and to be more negatively impacted by divorce than men. 401(k)s), tax-deferred accounts (e.g.,
Money Talk
APRIL 11, 2024
The 2023 income tax filing deadline is only days away (April 15, 2024 in most of the U.S.). It will be a busy weekend for many taxpayers and tax preparers who are filing tax returns or tax filing extensions. money that has been taxed) and can be withdrawn at any time for any reason tax-free and penalty-free.
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.
HR Lineup
DECEMBER 1, 2023
With features like automatic tax calculations, invoicing, and expense tracking, it remains a top choice for businesses looking for a comprehensive solution. Its contractor-specific features make it easy to manage payments, tax forms, and contractor onboarding, all in one centralized location.
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