Everything you need to know about Massachusetts's state income withholding tax, reciprocity agreements and other helpful information and links.
Everything you need to know about Pennsylvania's state and local income withholding tax, reciprocity agreements and other helpful information and links.
Everything you need to know about Maryland's state income withholding tax, reciprocity agreements and other helpful information and links.
Everything you need to know about Florida state income withholding tax, reciprocity agreements and other helpful information and links.
Florida Governor Ron DeSantis signed Florida’s Senate Bill 1718 into law on May 10, 2023. This bill has a broad purpose to obstruct the flow of illegal immigration in the state and imposes some of the toughest penalties in the country. It ‘enhances’ the crime of human smuggling, which is a good thing, but imposes a new rule for employers in the state. Effective July 1, 2023, private employers with 25 or more employees, and public employers, are now required to use the federal E-Verify system to verify employment eligibility of ALL new hires. There is NO requirement to verify employees who began employment prior to that effective date. So…
There has been an increase in biometric privacy class action lawsuits, which should bring concerns to employers. First and foremost, what is biometric data? Biometric data refers to any data that identifies or is related to an individual’s physical, physiological or behavioral characteristics, such as fingerprints, iris scans, facial recognition, hand recognition, voice recognition, DNA or any other unique biological information. With the rise of biometric technologies, concerns over the privacy and security of biometric data have become increasingly important. Securing an employee’s biometric data should be held in the same regard, if not higher, as other data, such as…
I have seen some interesting stories about ChatGPT lately. For example, this one where it was posed the question “What happens when AI takes over 1 million humanoid robots?” So I asked ChatGPT how AI would change payroll processing for businesses. Here is the response: “AI has the potential to significantly impact the payroll process for businesses by increasing efficiency, reducing errors, and improving accuracy. Here are some ways in which AI may change the payroll process for businesses: Automating repetitive tasks: AI can automate routine tasks, such as data entry, calculations, and report generation, that are time-consuming for human…
Whether you are a working employee, someone in their retirement or an employer/plan sponsor, the SECURE 2.0 Act of 2022 has something for everyone. It was included as part of the Consolidated Appropriations Act, 2023, which was passed by Congress on December 23, 2022 and signed into law by President Biden on December 29, 2022. While there is something for everyone, we will focus on the areas in which it affects employers. Some items are effective this year while others will phase in over the next couple of years, but it may be a good idea to start planning today.…
There are two questions that are brought up when talking about the topic of whether to deduct credit card processing fees before paying out charge tips to your employees. Can you do it, and should you do it? Credit card processing fees can be a significant expense to any business. In 2022, the average credit card processing fee ranged between 1.5% and 3.5% of the sale. There are a number of businesses that charge the consumer a convenience fee when paying by card over cash to cover this added expense, but that practice has not caught on for restaurants. At…
Over the next few weeks, as your employees start to receive their 2022 W-2 form, they will most likely have many questions as to what all those numbers mean. For example, it is not uncommon for a salaried employee who earns $50,000 per year question why their Box 1 Wages only reflects $45,000. Did they get underpaid? Probably not. If the employee contributes to a pension plan (aka 401(k)) or has pre-tax insurance deductions, then those amounts reduces the “taxable” wage, which is what appears in Box 1. Some employees may also wonder why their Federal Income Tax withheld is…