24 03, 2023

Electronic workplace posters

March 24th, 2023|Uncategorized|

Avoid penalties: Electronic workplace posters belong in the ‘break room,’ not the ‘custodial closet’ It’ll cost more in 2023 if you don’t display the required workplace posters. To complicate matters, electronic postings may be allowed, or even required. Back before the rise of remote and hybrid workforces, the Department of Labor (DOL) released guidance on [...]

17 03, 2023

How offering a 401(k) plan helps SMBs (video)

March 17th, 2023|employee benefits, Uncategorized|

It’s estimated that 1 in 4 Americans do not have ANY retirement savings¹. To help get more US workers to start saving, states and the federal government have created legislation aimed at getting retirement programs in place and helping pave a way for businesses to start their own retirement plans.  We recently held an educational webinar with our [...]

10 03, 2023

Understanding business travel deductions

March 10th, 2023|Uncategorized|

IRS Tax Tip 2023-15 Whether someone travels for work once a year or once a month, figuring out travel expense tax write-offs might seem confusing. The IRS has information to help all business travelers properly claim these valuable deductions.    Here are some tax details all business travelers should know Business travel deductions are available when employees [...]

3 03, 2023

New WOTC guidance from IRS

March 3rd, 2023|Uncategorized|

The federal Work Opportunity Tax Credit (WOTC) could be a boost to your bottom line – a one-time credit up to $9,600 per qualified new hire. To be eligible for a WOTC, employers need to hire workers that qualify as belonging to a group of people that face significant barriers to employment, such as: unemployed [...]

25 02, 2023

Tax tips for gig economy entrepreneurs and workers

February 25th, 2023|Uncategorized|

IRS Tax Tip 2023-05 In recent years, the gig economy has changed how people do business and provide services. Taxpayers must report their gig economy earnings on a tax return – whether they earned that money through a part-time, temporary or side gig. The IRS Gig Economy Tax Center provides information and resources to help [...]

18 02, 2023

Electronic Forms W-4

February 18th, 2023|Uncategorized|

Having employees complete Forms W-4 electronically can be a convenience to you, but be careful: IRS has issued strict guidance, and it’s recently been expanded. Employers don’t have a “license” to simplify or modify electronic substitutes to paper W-4s, IRS warned. After rolling out guidelines on implementing an electronic system for Forms W-4, IRS received [...]

7 02, 2023

IRS releases income tax withholding tables for 2023

February 7th, 2023|taxes|

IRS has finalized the withholding tables Payroll will need in 2023. Whether you have old or new Forms W-4 on file for employees, you can get ready for next year. As you know, IRS did a major overhaul of the W-4 in 2020. While some employees haven’t turned in new forms since then, the 2023 [...]

20 01, 2023

MA PFML requirements

January 20th, 2023|Uncategorized|

All Massachusetts employers must distribute information to their employees and display a workplace poster that explains Paid Family and Medical Leave (PFML). PFML workforce notifications and posters have been updated to reflect the 2023 maximum benefit amount and contribution rates.  Download the poster. For more information about PFML click here.

13 01, 2023

There’s more to determining filing status than being married or single

January 13th, 2023|taxes|

There’s more to determining filing status than being married or single Some taxpayers are eligible for more than one filing status. As they get ready for the upcoming filing season, taxpayers should carefully review their options to pick the filing status that makes the most sense for them. Those who are only eligible for one [...]

6 01, 2023

Closing your business for good?

January 6th, 2023|Uncategorized|

What business owners need to do when closing their doors for good There are a few things business owners need to do before they close their business. Of course, they need to fulfill their federal tax responsibilities. It’s also important to notify the IRS of their plans. Business owners must take these steps when closing [...]