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Court Ruling Could Change Payroll Tax Requirements for Religious Institutions
As religious congregations attend worship services, the unique payroll tax and HR requirements for clergy and staff may be the furthest thing from their minds. However, away from the pulpit, church leaders wrestle with issues such as whether clergy are self-employed or part of the payroll, how to accurately calculate estimated quarterly taxes and even if the definition of “clergy” is met as it relates to tax reporting.
Federal Contract Workers to See Minimum Wage Increase
President Barack Obama’s promise to increase the minimum wage for federal contract workers became official when signed an executive order earlier this week. The increase from $7.25 to $10.10 per hour will become effective Jan. 1, 2015.
More Changes Announced for ACA’s Employer Mandate
Change is coming again for employers subject to the Affordable Care Act’s employer mandate as the Obama administration announced two major modifications on Feb. 10, including: further delaying portions of the mandate for certain employers, and adjusting the percentage of employees who must be covered by employers beginning in 2015.
President Obama Reveals Increase in Minimum Wage for Federal Contract Workers
If you are an employer with federal government contracts, prepare to pay your employees a higher minimum wage on new contracts soon. President Barack Obama announced in a Jan. 28 White House fact sheet that he intends to issue an executive order in coming weeks requiring employers to pay contract workers at least $10.10 an hour, so price your future bids accordingly and anticipate additional guidance to ensure compliance.
W-2 Distribution: When Should I File?
The beginning of the New Year is a time for celebration, commemorating last year’s accomplishments and pledging new goals for the New Year. However, don’t get caught up in the excitement and forget to submit your W-2’s. Although a letdown for many, W-2 form distribution is required. That is unless you want to run the risk of accruing fines and penalties, which can really lead to a rough start to the New Year.
FICA Tip Credit: Serving Up Savings
Owning a restaurant seems like a glamorous idea, or at least it did to me, but there’s more to running a restaurant than cooking good food and mingling with customers. In order to be a successful restaurateur you have to have a good grasp on the fundamentals on running your establishment. You have to meet customer demands, maintain inventory as well as staff and manage expenses.
Tax Prep for 2014
For many people losing weight tops the lists of resolutions, but it isn’t the only solution to improving your well-being. Start the New Year right by shaving a few pounds off your work load rather than just your waist. With tax season right around the corner, now is the perfect time to get all your […]
Steering Through ACA’s ‘Cadillac Tax’
Experts say that this trend is endangered by an excise tax, otherwise known informally as the “Cadillac tax,” mandated under the federal government’s Affordable Care Act.
Hospitality Industry Braces for ACA
Although there have been numerous delays with the Affordable Care Act, it is important that business owners continue to plan for its changes – especially within the hospitality industry. This industry can be impacted significantly by the ACA, as much of the workforce is considered part- time, seasonal or temporary.
Is 30 the New 40?
In the scope of basic math, the difference between 30 and 40 isn’t much. The continuing battle over the Affordable Care Act (ACA), however, is anything but basic. Currently at stake in the U.S. House of Representatives is the definition of a full-time employee. Whereas most federal labor laws equate a 40-hour workweek to full-time employment, the ACA definition lowers that to 30.
Government’s E-Verify Services Reopen
For employers who received a Tentative Nonconfirmation for employees between Sept. 17 and Sept. 30, and were unable to resolve it due to the shutdown, the employees will have 12 federal business days added to the date printed on the “Referral Letter” or “Referral Date Confirmation” to resolve such cases. Employees have until that date to contact the Social Security Administration or the Department of Homeland Security to resolve their cases.
Internships 101: Studying Up for the FLSA Test
In the past, internships have been equated to apprenticeships: the student learns from the master in a real-world industry environment. In this traditional view, the interns are beholden to the company for the work experience, knowledge and contacts they’ve received.