The Internal Revenue Service reminds low- and moderate-income taxpayers that they can save for retirement now and possibly earn a special tax credit in 2024 and years ahead. The Retirement Savings Contributions Credit, also known as the Saver’s Credit, helps offset part of the first $2,000...
The landscape of work has undergone a profound transformation in recent times, driven by the rise of remote work. As employees adapted to remote work during the pandemic, many found that they could maintain high levels of productivity while working from the comfort of their...
Question: We have an employee working through their lunch break. Can we require them to take it? Answer: Yes, generally you can and should require an employee to take a lunch break. In many states, employers are required to provide employees with rest breaks, meal breaks,...
Question: What should we do when one of our designated paid holidays falls on a weekend when we aren’t open? Do we need to offer an alternative day off? Answer: No, you don’t need to offer an alternative day off. There are no federal laws requiring private employers...
It's important for businesses to have a clear and consistent payment schedule to ensure fairness and adherence to labor laws and employee expectations. Lack of structure around paychecks could throw off budgeting and financial planning processes or put a business at risk of legal issues...
New rules, issued in early 2023, change a wide range of filing requirements. The goal, according to the IRS, is to increase e-filing without undue hardship on taxpayers. Perhaps the biggest change is that the IRS has reduced the 250-return threshold enacted in prior regulations to...
Question: Can we prohibit employees from dyeing their hair bright pink, aqua, or other extreme colors? Answer: Yes. Non-natural hair color is not a protected characteristic. Even so, there are a few things you may want to consider before making a policy about this: Extreme” hair...
HSA’s and FSA’s are both pre-taxed health spending accounts where the employee contributes monthly to help pay for medical care expenses, copays, and vision care. The most significant difference between flexible spending accounts (FSA) and health savings accounts (HSA) is that an individual controls an HSA...
Still using pen and paper? Have you considered how much manual timekeeping costs a business? Employee Time Theft Paper timecard systems can be exploited in a number of ways from hours padding to buddy punching. Some large employers who switch to an automated system are...
Yes, but keep in mind that the value of the gift cards must be reported as wages. The IRS has a provision that allows for non-taxable "De Minimis" gifts, which allows an employer to buy an employee flowers to celebrate an achievement, occasional sporting event tickets,...