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Payroll Tax Rates and Contribution Limits for 2022

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

Get ready for taxes: Easy steps taxpayers can take now to make tax filing easier in 2022

IR-2021-217, Nov. 8, 2021 WASHINGTON – The Internal Revenue Service today encouraged taxpayers, including those who received stimulus payments or advance Child Tax Credit payments, to take important steps this fall to help themselves file their federal tax returns in 2022. Planning ahead can help people file...

26 November, 2021

From the HR Support Center: What are effective ways to manage remote employees and monitor their work?  

Managing remote employees can certainly be a challenge. Here are some of the practices we recommend: Set measurable goals around quality of work. Whether employees get their work done to your satisfaction is more important to your bottom line than whether they’re always at their workstation. Make all the resources necessary for employees to...

25 November, 2021

Exploring Tax Advantages of Retirement 403(b) Plans for Ministers

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

Why a Facial Recognition Time Clock is Essential for Small Business

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

The Whys and Hows of Outsourcing Payroll

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

Email scam uses fake email addresses to redirect employees’ paychecks

Here’s a new nightmare for your employees: They wait for payday to make their personal payments only to find their funds are missing from their bank account. The head of your payroll department reminds your employee of the email s/he sent instructing her to change...

21 November, 2021

IRS Provides Tax Inflation Adjustments For Tax Year 2022

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

From the HR Support Center: An employee worked unauthorized overtime. Do we have to pay them the time and a half for these hours?

Yes. We recommend communicating with the employee about work expectations outside of their scheduled workday, making it clear that the company does not expect or permit employees to work unauthorized time and that working without permission is subject to disciplinary action. Any overtime worked by...

18 November, 2021

HR Basics for Nonprofits

When you manage a nonprofit, spending money is always an issue. After all, your company is funded by grants and donations, many of which have strings attached. It's your obligation to keep the organization lean and the overhead low. However, the bigger an organization gets,...

17 November, 2021