Author: Margie Reed

Housing Allowance Resolution Sample  The following is a sample resolution to be adopted by the board of directors of any organization which employs a “minister” as defined by the IRS: Whereas, section 107 of the Internal Revenue Code specifies that the amount of ministers’ compensation that is...

01 December, 2021

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...

30 November, 2021

Below are federal payroll tax rates and benefits contribution limits for 2022. Social Security tax In 2022, the Social Security tax rate is 6.2% for employers and employees, unchanged from 2021. The Social Security wage base is $147,000 for employers and employees, increasing from $142,800 in 2021. Self-employed people must...

29 November, 2021

While it is true that ministers, and other church employees, may earn less than those performing similar jobs requiring similar skills in the secular world, there are unique tax advantages that can help offset the compensation differences. One of the greatest advantages for church workers...

24 November, 2021

In todays’ workplace, a facial recognition time clock is far more common than it was even a decade ago. In some cases, advanced biometric clocks are must-haves. With health, safety and time theft use-cases, facial recognition time clocks are fast becoming the best technology for...

23 November, 2021

In Bloomberg Tax & Accounting's 2019 Payroll Benchmarks Survey, 69.2% of respondents said they used outside vendors to perform payroll functions, while only 30.8% said they did not outsource payroll. Let's look at the practical and financial reasons so many companies are taking the payroll outsourcing...

22 November, 2021

WASHINGTON — The Internal Revenue Service today announced the tax year 2022 annual inflation adjustments for more than 60 tax provisions, including the tax rate schedules and other tax changes. Revenue Procedure 2021-45 provides details about these annual adjustments. Highlights of changes in Revenue Procedure 2021-45:    The...

19 November, 2021