Which Employees Are Exempt From Tax Withholding?

by | Apr 9, 2019 | Payroll, Taxes

Tax withholding is a seemingly inevitable part of working, but there are exceptions, as shown by the following information about employees exempt from withholding.Student employeesGenerally, individuals employed by a school, college or university where they are also...

2018 Changes for J-1 Visa Taxes

by | Mar 27, 2019 | Business Tips, Payroll, Taxes

Wages earned by J-1 employees have always been taxable for Federal and State income tax but exempt from Social Security and Medicare. As a result of tax reform in 2018, there is no longer a personal exemption for J-1 employees. Prior to 2018, the personal exemption...

401(k) and IRA Contribution Limits Increase

by | Jan 11, 2019 | Financial Management, Taxes

The IRS has announced cost of living adjustments affecting dollar limitations for pension plans and other retirement-related items for tax year 2019. The contribution limit for employees who participate in 401(k), 403(b), most 457 plans, and the federal government’s...

2018 Tax Wrap-Up

by | Jan 7, 2019 | Business Tips, Payroll, Taxes

The tax reform passed at the end of 2017 runs to about 70,000 words. It’s a large and complicated piece of legislation, and we can look forward to additional guidance and clarifications. For now, here are summaries of some of the key provisions impacting 2018...

Debunking 4 Common Payroll Myths

by | Dec 19, 2018 | Payroll, Taxes

Many companies subscribe to myths about payroll. Let us “bust” them for you. 1. I don’t have enough employees to use a payroll service. Even if you have only one employee, there’s still a lot to be done in terms of payroll. Ultimately, you must...