When it comes to the health care law, also known as the Affordable Care Act (ACA), and how it may affect your company’s taxes, there are many questions you might have. This blog is designed to answer your questions and make filing a breeze! The Good News and the Bad News We all… Read more »
IRS
Avoiding Wage & Hour
The IRS, DOL, and EEOC take aim at Employers for misclassification of individuals as independent contractors, or as exempt from the Fair Labor Standards Act. The agencies have discovered an easy revenue source. The Agencies have adopted a policy of strict enforcement, and employers have to make changes to their employment practices or pay penalties… Read more »
Employment Law Changes for 2014
Minimum Wage Increase and Resulting Salary Increase to Maintain Exempt-Employee Status (AB 10) The California minimum wage will increase to $9.00 per hour, effective July 1, 2014, and to $10.00 per hour effective January 1, 2016. A less-advertised consequence of this increase, however, is the impact it will have on the salary test for preserving… Read more »
IRS Announces 2014 Pension Plan Limitations.
IRS Announces 2014 Pension Plan Limitations; Taxpayers May Contribute up to $17,500 to their 401(k) plans in 2014 IR-2013-86, Oct. 31, 2013 WASHINGTON — The Internal Revenue Service today announced cost‑of‑living adjustments affecting dollar limitations for pension plans and other retirement-related items for the tax year 2014. Some pension limitations such as those governing 401(k)… Read more »