Recent Payroll Tax Changes For 2022
Posted on September 21, 2022
Make sure that you are up-to-date on payroll tax changes that have recently gone into effect. Arkansas updated its withholding method as of October 1st, Utah reduces the threshold for nonresident withholding, Pennsylvania amended wages related to tipped employees and overtime, Michigan delays minimum wage and paid sick leave change until February 2023 and the IRS increases interest rates for third quarter of 2022.
Category: News and Announcements
Minimum Wages Tied To Inflation Rates
Posted on September 21, 2022
Many cities' and states' minimum wages are tied to Inflation rates. Over the past decade, the minimum wage has grown by a few cents each year. This year's unusually high inflation is likely to drive hourly wage jumps of $1 or more in some locales.
Category: News and Announcements
Myth About Payroll Taxes: Transforming Employees Into Independent Contractors To Save On Payroll Taxes Is Easy
Posted on September 21, 2022
You probably know that it costs less to use an independent contractor than to have an employee on staff. The reason: the cost of payroll taxes, along with insurance and benefits, apply only to employees. But don’t think you can simply reclassify a worker who’s been your employee as an independent contractor. The IRS, as well as other government agencies, are on the lookout for just such action.
Category: News and Announcements
Payroll And The Gig Economy In 2022
Posted on August 17, 2022
The gig economy differs from the world of traditional full-time jobs that consist of the basic 9 to 5 schedule to employees who prefer temporary and flexible jobs. Gig workers are individuals who pursue these types of jobs, often applying for a temporary independent contractor or freelance position. Many of these employees prefer to work on their own flexible schedules in various environments.
Category: News and Announcements
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