The Internal Revenue Service has announced that the amount individuals can contribute to their 401(k) plans in 2024 has increased to $23,000, up from $22,500 for 2023. That's just the beginning: The IRS also has issued technical guidance regarding all the cost‑of‑living adjustments affecting dollar...
Are you looking for another way to minimize your 2023 taxable income for better tax results? Max out your annual contribution to your 401(k) retirement plan account if you haven’t already. This strategy is a two-for-one winner. In 2023, you can contribute as much as $22,500...
Question: We’d like to cater lunch for employees. Do we need to ask them about food allergies? Answer: No. However, employees who do have food allergies or restrictions would likely appreciate it if you made sure that they also get to partake of the free food....
When an employee refuses to sign a warning, we recommend writing "refused to sign" at the bottom of the notice. It is best if you have more than one person witness and attest to this refusal. Ideally, you and another manager would sign under this...
In today's fast-paced work environment, companies are constantly seeking new ways to attract and retain top talent. While competitive salaries and exciting job roles are certainly key factors, employee benefits also play a crucial role in the decision-making process for many job seekers. One such...
American workers are struggling to save for retirement. In fact, only 43% of non-retired adults expect to be financially comfortable in retirement, according to a 2023 survey by Gallup. That same survey reveals that nearly half (48%) of workers expect that a workplace retirement plan such...
The more your business minimizes its tax liability, the better your bottom line. So, let’s look at some things you may be able to do between now and year-end to possibly lower your tax bill in April. OPTIMIZE DEDUCTIONS AND CREDITS The more deductions you claim,...
Thanksgiving Day is a national holiday in the United States celebrated on the fourth Thursday of November. Its origins can be traced back to the harvest festival celebrated by the Pilgrims in 1621, which was a gathering of the Pilgrims, Native Americans, and other settlers...
The end of 2023 is quickly approaching, and hopefully, by now, you have at least started talking about your 2024 church budget! One fixed cost budget line item is the salary expense. Churches with the resources to hire employees strive to have engaged employees by providing a great workplace. One...
Everyone needs time off from work, but not everyone’s able to take it. Paid time off helps a lot. People are better able to take the time they need without worrying about a smaller paycheck. Employers demonstrate to their teams that they value them as...