It’s no secret that many employees struggle with making their funds stretch until to payday. Earned wage access (EWA) is an employee benefit that has emerged in recent years as a way for employees to meet their financial needs in…
Have you thought about claiming the research tax credit for your small business? If you earn any research tax credits during the year, you can elect to apply them against your payroll taxes rather than your income tax. This tax…
The IRS has released contribution amounts for Health Savings Accounts (HSAs) for the 2023 calendar year. Based on the current rate of inflation, it’s not surprising that these went up substantially. Here’s a comparison to current 2022 contribution levels: 2023…
Each year, the government updates certain dollar limits for inflation. Here are the new numbers for 2022 along with some explanatory information: Payroll Taxes The Social Security Taxable Wage Base has increased to $147,000. Both employees and employers contribute to…
A number of states and individual taxpayers sought to challenge the constitutionality of a provision in the Affordable Care Act (ACA). In a 7-2 decision, the U.S. Supreme Court has ruled that both the state and individual plaintiffs lacked standing to challenge…
While the reporting deadline for unclaimed property varies by state, many have a November 1 deadline. Nothing to worry about yet, right? Think again. You should be taking steps soon, but first, let's take a step back for a quick…
The pandemic has adversely affected many sectors of the U.S. economy, causing widespread job losses. At the start of the national emergency, Congress created a novel tax break — the Employee Retention Tax Credit (ERTC) — to entice employers to…
The latest economic stimulus bill was recently signed by President Biden, with stimulus payments hitting bank accounts as soon as this weekend. Called the American Rescue Plan Act of 2021 (ARPA), the bill extends many provisions of earlier coronavirus legislation…
After a natural disaster, many business owners analyze their operations to find ways to safeguard their business. An aspect that may be overlooked, yet is vital for employees, is maintaining the regularly scheduled payroll. Utilizing electronic payment methods to process…
Fraudulent unemployment claims have been widespread and now there is another complication to the ongoing saga for Kansas employers. The Kansas Department of Labor (KDOL) recently sent 1099-G forms in the mail for those receiving unemployment claims last year (click…