2018 Tax Tables and W-4 Changes
The Tax Cuts and Jobs Act new tax law was enacted in December 2017, with an effective date of January 1, 2018. Due to the last minute rush to implement…
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New W-4 Form for Withholdings
New W-4 Form for Withholdings As we discussed in our PayDay a month ago titled “2018 Tax Tables and W-4 Changes” the IRS did just release both a new 2018 W-4 and…
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COMING SOON – IRS/ACA PENALTY NOTICES
EXECUTIVE SUMMARY ABOUT IMMINENT IRS AFFORDABLE CARE ACT/OBAMACARE EMPLOYER PENALTY NOTICES The IRS has recently indicated that they will be mailing out their “first ever” proposed assessment notices to employers who…
Read More Supersize with Roths
If your employer’s 401(k) or 403(b) plan permits employees to contribute “after-tax” to a “Roth” account, you should seriously consider contributing part or all of your “elective deferrals” to your…
Read More Box 14, W-2 Employee Tax Form Information
Entering helpful information in Box 14 of your employees’ annual W-2 forms can assist them in their annual personal tax preparation – and limit the number of questions employees ask…
Read More ACA Reporting by Employers—-how much longer?
All employers with 50 or more “full-time equivalent employees” (so called FTE’s), which is a combination of employees who work 30 or more hours per week plus all part-timer hours…
Read More SMALL EMPLOYER HRA BASICS
Effective January 1, 2017, small employers (less than 50 employees) can offer employees reimbursement of medical expenses to include personal health insurance premiums on a tax-free basis. These new programs…
Read More House Repeals Obamacare—What about Senate?
Today the House of Representatives cobbled together enough votes to “repeal and replace” the Affordable Care Act, better known as Obamacare. This legislation will now go to the US Senate,…
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