Allwork
MARCH 3, 2023
What’s going on: On Friday, Zoom Video Communications abruptly terminated its president Greg Tomb, who had only joined in June. He is entitled to severance benefits as it was “termination without cause.”
Success
SEPTEMBER 8, 2023
Unlike other retirement plan options, there are no filing requirements or expensive fees to maintain a SEP IRA. SEP IRA contribution limits for 2023 One of the benefits of a SEP IRA is the amount that can be put away for retirement. In that case, they must also contribute 25% of each employee’s salary to their individual accounts.
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Success
JULY 18, 2023
Under the nonelective clause, even if an eligible employee doesn’t contribute to the SIMPLE IRA, the employer must still contribute a percentage based on the annual salary cap of $330,000 in 2023. Employee salary reduction contributions are not tax deductible. A salary cap of $330,000 is used to calculate contributions.
Success
MARCH 15, 2023
Recent notable achievements by and for women As we embark on Women’s History Month 2023, it’s easy to feel inspired by how far women have come , getting us a little bit closer to gender equality. However, in 2022, a lawsuit filed by the NWSL against the U.S. The minimum for other MLS players, “who must be 24 or younger,” was $56,250.
BMT Office Administration
JANUARY 11, 2023
Nevertheless, 2023 is looking like another challenging year for Payroll as we get a few insights into what to expect. Final e-filing regs. The IRS punted on its final regulations , dropping the mandatory e-filing threshold for information returns for 2021 and 2022 W-2s, 1099s, and 1095s. Two sets of wage-and-hour regulations.
Allwork
JUNE 30, 2023
While the dust from the 2023 tax filing season has long since settled, if you are a freelance worker, independent contractor , or digital nomad, now isn’t the time to forget about your taxes. Greenback Tax Services states that in 2022, the income exclusion was $112,000, and for 2023, the exclusion increased to $120,000.
Success
JULY 25, 2023
What is the SIMPLE IRA contribution limit for 2023? In 2023, the SIMPLE IRA employee contribution limit is $15,500. Employer contributions must equal 2% of the employee’s compensation up to the annual salary limit of $330,000 in 2023. Comparatively, you can contribute significantly more to a SIMPLE IRA in 2023.
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