Recent federal tax law extended the Work Opportunity Tax Credit (WOTC) through the end of 2025. This is great news for businesses which generally hire low wage/high turnover positions to…
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,…
One way your employees can get the new tax year off to a good start is by checking their federal income tax withholding. They can do this using the Tax…
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…
SOCIAL SECURITY WAGE BASE Wages will be taxed up to $147,000 for FICA in year 2022. The 2022 rates for FICA (6.2%) and Medicare (1.45%) remain unchanged. FUNDING 2022 RETIREMENT…
The Indiana Department of Workforce Development, recently mailed out 2022 “Merit Rate Notices” to all applicable Indiana employers. Tax agencies in other states will be sending these notices soon if they…
Special rules must be followed so that 2% or more “S” corporation shareholder-employees can deduct health insurance premiums covering the shareholder, his/her spouse and dependents. IRS Notice 2008-1 permits tax…
The end of 2021 is quickly approaching. As with 2020, COVID-related policies and regulations impacted payroll and HR in 2021, adding some additional year-end considerations. To help payroll and HR…
AccuPay has been very active in helping our employer-clients obtain employee retention tax credits for both years 2020 and 2021. Employee Retention Tax credits were part of the CARES Act…
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…