Payroll Briefs

Category: "All"

Less Affordable Care Act Reporting Now Required by Employers

Recent legislative changes have streamlined Affordable Care Act (ACA) reporting requirements, reducing administrative burdens for employers. The enactment of the Paperwork Burden Reduction Act (PBRA) and the Employer Reporting Improvement Act (ERIA) introduces key modifications effective for the 2024 tax year. The Paperwork Burden Reduction Act The PBRA amends the Internal Revenue Code and reduces […]

IRS Increases Standard Mileage Rate for Business Use in 2025

The IRS has increased the optional standard mileage rate for automobiles driven for business to 70 cents per mile for 2025. The mileage rates for vehicles used for other purposes will remain unchanged from 2024. Optional standard milage rates are used to calculate the deductible costs of operating vehicles for business, charitable and medical purposes, as well […]

Top Payroll Trends for 2025: Staying Ahead of the Curve

Workplace dynamics are ever moving, forcing business owners and HR leaders to adapt. Furthermore, talent shifts, compliance challenges and technological advancements are leading the charge and changing the way we do business. Leaders who keep on top of emerging payroll trends and proactively identify ways to make their team more efficient could welcome a competitive […]

Maximizing the Work Opportunity Tax Credit Through an Onboarding Integration

If you are currently taking advantage of the Work Opportunity Tax Credit (WOTC) or would like to further expand this credit opportunity, your payroll system’s onboarding process may be the key to unlocking even more significant financial and operational benefits. A reliable payroll system can also help streamline the overall process of collecting your WOTC […]

Federal Court Overturns U.S. DOL’s Overtime Exemption Rule Nationwide

A Texas federal court overturned a U.S. Department of Labor (DOL) rule that raised the minimum salary required to be paid to most employees classified as exempt from overtime and minimum wage requirements. The court’s decision, that has a nationwide effect, invalidates the DOL’s final rule that put in place a salary level increase on […]

9 Considerations for Navigating Year-End Payroll

As the calendar year draws to a close, business owners and human resources teams find themselves immersed in the complexities of year-end payroll processing. Navigating this crucial aspect of business management requires careful attention to detail, compliance with regulations and strategic planning. Highlighted below are key steps and considerations to make your year-end payroll process […]

Social Security Wage Base Increases for 2025

The Social Security Administration (SSA) recently announced an increase in the wage base subject to Social Security tax for 2025. Starting Jan. 1, 2025, the maximum taxable earnings for Social Security will rise from $168,600 in 2024 to $176,100, which is an increase of $7,500. This adjustment reflects the cost-of-living increase tied to inflation and […]

IRS Releases 2025 Limits for Retirement Plan Contributions and Benefits

Employees can contribute even more to their 401(k) plans in the upcoming year. Adjusted for the cost of living, effective Jan. 1, 2025, employees can contribute up to $23,500 into their 401(k) and 403(b) plans, most 457 plans and the Thrift Savings Plan for federal employees. This is a $500 jump from the $23,000 limit […]

Complying With Payroll Record-Keeping Requirements

Payroll record keeping is important for every business, regardless of its employee size. But with all the forms, documents and regulatory agencies’ requirements, it can quickly become overwhelming for most employers. To avoid regulatory and legal scrutiny, it must be made a priority. Federal Requirements First, it’s imperative an employer comply with the federal Fair […]

ACA Affordability Percentage Increases for 2025

The IRS released its annual inflation adjustment to the percentage-of-household income used to determine whether an employer offers affordable health care coverage under the Affordable Care Act (ACA). For plan years beginning in 2025, the percentage-of-household income increases to 9.02%. The household income percentage for plans beginning in 2024 was 8.39%. After three years of […]