Many businesses are struggling with a worker shortage. It is happening across the board: staff shortages at our doctors' offices, at child care centers and at the restaurants we frequent. Businesses, their employees and their customers and clients all are unhappy and trying hard to...
Self-employment tax Clergy are not eligible to have FICA taxes withheld from their church compensation. In lieu of FICA taxes, clergy pay self-employment tax, also known as Self-Employment Contributions Act tax (SECA). Reimbursements from an employer of SECA are taxable as wages. However, even though...
Relatively few companies offered flexible work environments prior to 2020. When the global health crisis turned the world upside down, mandatory closures and lockdowns forced an abrupt shift. Suddenly, millions of employees whose jobs could be done virtually were working from home. Even organizations with frontline...
Something is lacking in your current payroll provider. Maybe it is responsible for much of your payroll problems — too many paycheck errors, you could never get anyone on the phone or its services are too expensive. Or maybe you've simply outgrown each other —...
IR-2021-251, Dec. 17, 2021 WASHINGTON — The Internal Revenue Service today issued the 2022 optional standard mileage rates used to calculate the deductible costs of operating an automobile for business, charitable, medical or moving purposes. Beginning on Jan. 1, 2022, the standard mileage rates for the use...
Heads up, employers. Just as we thought the COVID-19 pandemic was turning a corner, mask mandates are making a comeback. Eight states have recently announced all are required to wear masks indoors, regardless of vaccination status. Those states are: California Hawaii Illinois Nevada New Mexico New York Oregon, and Washington Puerto Rico also has a...
While ministers are employees for federal income tax reporting purposes, they are self-employed for Social Security purposes with respect to services they perform in the exercise of their ministry. This means that they must pay both the employee and the employer share of social security tax...
If you have hourly workers, your organization may be leaking cash unnecessarily. We're talking about time theft. It can be just as expensive as employees stealing merchandise. Time Theft Is Widespread Among Hourly Workers Time theft comes in many flavors. One flavor is hours padding. Many...
As fulfilled and engaged as your employees may be with their jobs, if they have any issues with their paychecks, it won't take long for them to become frustrated. Some organizations have dedicated payroll departments and others find it useful to outsource this process to...
Required Minimum Distributions (RMDs) are minimum amounts that you must withdraw from your IRA or retirement plan account each year after you reach age 72 (70 ½ if you reach 70 ½ before Jan. 1, 2020). In a workplace retirement plan, you can delay taking...