February 2024

The deadline to comply with a new U.S. Dept. of Labor rule regarding worker classification is fast approaching. Is your company ready?

1. Working from a home office? 2. Deduction vs. credit? 3. It pays to be energy efficient 4. What exactly is gross income? 5. Data security at the IRS

Are your employees interested in pursuing work-related education or even an advanced degree? Businesses that invest in their employees' education can upskill their current workforce, boost morale and build loyalty among workers. Plus, it can be a tax-smart move. Here's an overview of the two primary options for offering it as a fringe benefit or setting up an educational assistance program.

Reference this tax calendar to learn the 2024 deadlines for various tax-related forms and payments.

The following chart provides some important federal tax information for 2024, as compared with 2023. Social Security/ Medicare 20242023 Social Security Tax Wage Base $168,600$160,200 Medicare Tax Wage Base No limitNo limit Employee portion of Social Security 6.2%6.2% Employee portion […]

The IRS’s new Voluntary Disclosure Program may provide employers relief from penalties related to ineligible Employee Retention Tax Credit claims.