Social Security & Medicare (FICA) taxes
-
Numerous tax limits affecting businesses have increased for 2022
Many tax limits that affect businesses are annually indexed for inflation, and a number of them have increased for 2022. Here’s a rundown of those…
Read More: Numerous tax limits affecting businesses have increased for 2022 -
Businesses with employees who receive tips may be eligible for a tax credit
If you’re an employer with a business where tipping is customary for providing food and beverages, you may qualify for a federal tax credit involving…
Read More: Businesses with employees who receive tips may be eligible for a tax credit -
Employers: The Social Security wage base is increasing in 2022
The Social Security Administration recently announced that the wage base for computing Social Security tax will increase to $147,000 for 2022 (up from $142,800 for…
Read More: Employers: The Social Security wage base is increasing in 2022 -
You may owe “nanny tax” even if you don’t have a nanny
Have you heard of the “nanny tax?” Even if you don’t employ a nanny, it may apply to you. Hiring a house cleaner, gardener or…
Read More: You may owe “nanny tax” even if you don’t have a nanny -
Tax advantages of hiring your child at your small business
As a business owner, you should be aware that you can save family income and payroll taxes by putting your child on the payroll. Here…
Read More: Tax advantages of hiring your child at your small business -
Now more than ever, carefully track payroll records
The subject of payroll has been top-of-mind for business owners this year. The COVID-19 pandemic triggered economic changes that caused considerable fluctuations in the size…
Read More: Now more than ever, carefully track payroll records
Stay current on weekly blogs by following our social media posts on LinkedIn, Facebook, and Twitter.