The pandemic continues to cast its shadow on the workplace. Microsoft’s 2022 global Work Trend Index study shows that 47% of the respondents are more likely to prioritize personal life and family over work than they were in pre-pandemic times. And with 29% of workers citing...
The payroll tax rates and contribution limits for 2023 have been released, and there are lots of changes. Click through to see exactly what is changing so you can make plans for the coming months. Social Security tax In 2023, the Social Security tax rate is 6.2% for...
To help taxpayers navigate the beginning of the tax filing season, the Internal Revenue Service offered a checklist of reminders for people as they prepare to file their 2022 tax returns. From gathering paperwork to filing a tax return, these easy steps will make tax preparation...
The Occupational Safety and Health Administration takes an employee injury very seriously and requires companies to submit injury data. The requirements are complex, and you may want to work with experts in this field, depending on the kind of business you run. In brief, according to...
You must pay income taxes on any converted funds in the year of the conversion, but there are several scenarios in which that might be to your advantage: You believe your tax bracket will be higher in retirement. In this scenario, paying taxes at your current...
Under the Fair Labor Standards Act, whether employees should receive on-call pay depends on whether the time spent on call qualifies as "hours worked." If so, employees must receive at least the federal minimum wage for each hour spent on call, plus overtime for all...
Congratulations! You're a new business owner. Now it's time to hire employees who will help you run your company. But before you advertise for the available positions, you should get yourself up to speed and understand the entire process involved in paying employees. Here's what you...
The tax filing season is a popular time for scammers to call and try to dupe unsuspecting taxpayers. These thieves often make threatening or alarming calls posing as the IRS to try to steal taxpayer money or personal information. However, it’s easy for people to recognize...
When making personnel decisions — including hiring, retention, promotion, and reassignment — employers sometimes want to consider the backgrounds of applicants and employees. For example, some employers might try to find out about the person’s work history, education, criminal record, financial history, medical history, or...
Under Section 127 of the Internal Revenue Code (IRC), employers are allowed to provide tax-free payments of up to $5,250 per year to eligible employees for qualified educational expenses. To be considered qualified, payments must be made in accordance with an employer’s written educational assistance...