Menzies
APRIL 23, 2024
Menzies LLP - A leading chartered accountancy firm. The Payrolling Benefits in Kind scheme was set up by the UK Government in 2016 and this refers to the practice of processing employees benefits through the payroll rather than on a P11d. Check that your employees are eligible for the benefits you plan to payroll.
ThomsonReuters
JANUARY 30, 2023
States eye workforce as a legislative priority for payroll The majority of state legislatures began their legislative sessions this January. A flurry of bills is being proposed in the payroll space — many having to do labor and employment. Currently, the state indexes its minimum wage annually for inflation. per hour to $11.39.
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CPA Practice
FEBRUARY 12, 2024
That’s because, as the bill is worded, federal taxes on Social Security income would be eliminated beginning in 2025 (tax returns filed in early 2026). The Social Security payroll tax wage base was $160,200 last year. payroll tax on nearly $100,000 more of their wages. Angie Craig (D-Minn.). from 2023 to 2024.
ThomsonReuters
MARCH 5, 2024
Among these were several payroll-related provisions that are set to expire at the end of 2025, presenting challenges and opportunities for employers and employees alike. Possibility of retroactive changes He also believes that “from a payroll perspective…whatever changes come, they’re going to come late.”
CPA Practice
AUGUST 28, 2023
if you are at least 50 and earned $145,000 or more in the previous year, you can make catch-up contributions to your employer-sponsored 401(k) account. The agency says Roth catch-up contributions for high earners age 50 or over won’t be required until 2026. That’s a two-year delay of the new rule.)
Menzies
MARCH 25, 2024
Menzies LLP - A leading chartered accountancy firm. 5 April 2024 – Payrolling Benefits If you intend to payroll benefits and expenses, you must register with HMRC using the payrolling employees’ taxable benefits and expenses online service before the start of the tax year.
Withum
FEBRUARY 29, 2024
Ohtani and the Dodgers want to win a World Series, Ohtani wants to be paid at the highest market value for his talent and the Dodgers would like to retain as much payroll flexibility as possible, so the team can be competitive in the future. Let’s start with his federal payroll tax liability.
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