Watch Out for Fake ERC Plans
You may be aware of widely circulated promotions — ads on radio and the internet — touting refunds involving Employee Retention Credits. The IRS says these are a blatant attempt …
Avoiding Misclassification: A Guide for Employers
When you hire someone to work for you, the worker will likely be considered either an employee or an independent contractor. Usually, you will decide whether you want to onboard …
IRS Clarifies Federal Taxes and State Payments
The IRS has recently announced that “in the interest of sound tax administration and other factors,” taxpayers in many states will not need to report various payments on their 2022 …
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, …