How Often to Pay Employees – Pros & Cons
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…
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Brand New Retirement Plan Options
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…
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IRS Warning about Aggressive ERC Promoters
The following IRS Newswire was issued on March 20, 2023 Issue Number: IR-2023-49 Inside This Issue IRS opens 2023 Dirty Dozen with warning about Employee Retention Credit claims; increased scrutiny follows…
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ERC Tax Credits – Thoughts after Two Years
AccuPay has been assisting our clients with various aspects of Employee Retention Tax Credits for over 2 years now. Our original role pertaining to ERC credits in early 2021 was…
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HOW TO READ YOUR 2022 W-2
Years ago, W-2 forms were fairly straight-forward, reporting wages paid to your employees along with tax withholdings. The days of simple W-2’s are long gone! Wages reported in boxes 1, 3…
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Preparing for a Smooth Year-End
The end of 2022 is quickly approaching, but there is still work to do to ensure a smooth year-end. Putting in a little time before your final payroll of the…
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2023 IRS PAYROLL FIGURES
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…
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Personal Use of Company Car
AccuPay has assisted our clients for many years with calculating and reporting “personal use of a company vehicle” taxable compensation to employees. We believe that employers should calculate and report…
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Indiana County Income Tax Increases
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…
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Employee Retention Tax Credits – An Update
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…
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