SECURE ACT 2.0 The Secure Act 2.0 legislation was signed into law on December 29, 2022, as an enhanced version of retirement plan law changes which began with the original…
SOCIAL SECURITY WAGE BASE Wages will be taxed up to $160,200 for FICA in year 2023. The 2023 rates for FICA (6.2%) and Medicare (1.45%) remain unchanged. FUNDING 2023 RETIREMENT…
The following Indiana counties increased their county income tax rates effective for wages paid on or after October 1, 2022. Boone – 1.7% Johnson – 1.4% Monroe – 2.035% Knox…
AccuPay has been helping clients of our payroll/HR services firm calculate and file ERC tax credit claims, resulting in IRS refund checks, for 2 years now. We have educated many…
Now is an excellent time for both employees and employers to make sure they will reach their payroll, tax and financial objectives for calendar year 2022. The following items should…
The selection of a “pay frequency” by an employer is important and should “fit” your company objectives and comply with state law. New employers must adopt a pay frequency along…
I recently came across an article written by Daniel Mayo, a contributing author to Forbes and a national tax partner for Withum, a “top 100” CPA/consulting firm. The article, titled…
When it’s time for the company and an employee to part ways, whether voluntary or involuntarily, it’s always helpful to have a set best practice. One of the most important…
Failing to know the difference between an employee and an independent (1099) contractor can be costly, with stiff financial penalties, and even jail time for the most flagrant violations. Fortunately,…
When you hire a new employee, it is important to complete all required payroll forms. These forms include the New Hire Reporting Form, W-4, state withholding form (as applicable), and…