Many business owners give their employees paid time off (PTO) or vacation pay throughout the year. At the end of the year, employees can either cash out, roll over, or lose unused time. If you allow employees to cash out their unused vacation time, you need to know how to handle the payout. Luckily, the […]
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Payroll Taxes - Tips, Training, and News
Make an Employment Tax Mistake? You May Face the Failure to Deposit Penalty
Part of the role of being an employer is withholding, contributing to, and remitting employment taxes. But, what happens if you don’t make a payment on time or pay an incorrect amount? Cue the Failure to Deposit Penalty.
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What Is the Employee Retention Credit, and How Does It Work for Employers?
Heads up: Congress recently passed the Infrastructure Investment and Jobs Act, which President Biden signed on November 15, 2021. The new expiration date of the ERTC is September 30, 2021 for most businesses, and the IRS has provided guidance on failure to deposit penalties. Due to the coronavirus negatively affecting businesses nationwide, there are a […]
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Oregon’s Multnomah County Preschool for All Tax: The Scoop
If you’re an employer in Oregon (specifically in Multnomah County), listen up. There’s a new personal income tax that went into effect in 2021, and it may impact both you and your employees. What is this new tax in town, you ask? The Multnomah County Preschool for All tax.
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The Employer Guide to Oregon Metro Supportive Housing Services Tax
Oregon employers have a new tax to add to their payroll radar: the Metro Supportive Housing Services (SHS) tax. So, what is the Metro Supportive Housing Services tax? Who must pay the tax? And, what does it fund?
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How Often Does Social Security Tax Increase?
As an employer, you’re responsible for keeping up with the latest tax news and withholding the correct amount of taxes from employee wages. One tax that you constantly need to keep up with is Social Security tax. So, how often does Social Security tax increase? Read on to learn how frequently the Social security tax […]
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Your Employee Social Security Tax Deferral & Repayment Questions, Answered
Like most employers, you likely had a lot of questions about the executive order payroll tax deferral. And now that you’re in the collection and repayment phase of the employee Social Security tax deferral, you probably have some more.
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Employee Retention Credit Owner Wages: Do They Count for the Credit?
Heads up: Congress recently passed the Infrastructure Investment and Jobs Act, which President Biden signed on November 15, 2021. The new expiration date of the ERTC is September 30, 2021 for most businesses. Along with other COVID-19 relief measures, the Employee Retention Credit (ERC) took the world by storm in 2020 and 2021. Eligible employers […]
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Personal Allowances: What Employers Should Know Inside and Out
If you’ve seen a recent Form W-4 (i.e., 2020 and after), you know the IRS removed personal allowances. But, some states still use personal allowances on the state W-4 forms.
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What’s the Deal With the Massachusetts COVID-19 Recovery Assessment?
Thanks to COVID-19, 2020 and 2021 were jam-packed with big changes and new legislation for many employers. Some states, like Massachusetts, began making adjustments to provide employers with temporary relief options.
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