Supreme Court Rules HCEs May Be Eligible for Overtime
You may think that the terms “highly compensated worker” and “overtime pay” don’t belong in the same sentence, but the Supreme Court disagrees. HCEs can receive overtime if they are …
Special Compensation Rules for Business Owners
S corporations allow the business to pass corporate income, losses, deductions and credits through to their shareholders for federal tax purposes. But with those great advantages come many rules, including …
Key Social Security Changes for New Year
According to the Social Security Administration, approximately 70 million Americans will see an 8.7% increase in their Social Security benefits and Supplemental Security Income (SSI) payments in 2023. On average, …
It Is Always a Good Time to Check Withholding
Are you having the right amount of taxes withheld from your paycheck? You should check at least once a year, or even more frequently if you’ve had a major life …
How to Handle Payroll Across State Lines
Normally, payroll and taxes shouldn’t be a problem when you own a small business. However, if you have employees who either live in one state and work in another, or …
Payroll Tax Rates and Contribution Limits for 2022
Below are federal payroll tax rates and benefits contribution limits for 2022. Social Security Tax In 2022, the Social Security tax rate is 6.2% for employers and employees, unchanged from 2021. The …