As workplaces resume in-person operations, or at least consider doing so, there are many questions about the rules and requirements. However, the Equal Employment Opportunity Commission has published a lengthy Q&A to help make sure everyone knows how to proceed. Managers and employees may want to review the entire document, but can get started with some of … Read more
In a 7-2 decision, the U.S. Supreme Court upheld, again, the Affordable Care Act. Texas and other states had sued to overturn it. The court’s opinion, written by Justice Stephen Breyer, said that plaintiffs had argued that without the noncompliance penalty, which had been stripped from the act, the entire law was unconstitutional. But Breyer … Read more
A tax credit for small-employer pension plan startup costs may be awaiting you. You may be able to claim a tax credit of up to $5,000 when you set up an SEP or a SIMPLE IRA or a qualified plan such as a 401(k). You qualify to claim this credit if you meet all these … Read more
Everybody wants to pay as little in taxes as possible. Most people use software or hire an accountant to help them find all the deductions they can subtract from their taxable income and all the credits they can subtract from their final bill. But most tax breaks require you, the taxpayer, to plan ahead. Even … Read more
A money purchase pension plan is an employee retirement benefit plan that requires companies to contribute a specific percentage of an employee’s salary each year, regardless of the firm’s profitability. Because of this, money purchase plans can be attractive options for employers to attract and retain key employees, though they can be pricey for firms … Read more
As it does each year, the IRS has announced changes for health savings accounts, which are associated with high-deductible health plans. The figures for 2022: According to the Society for Human Resource Management, the government bases its decision on the Consumer Price Index for All Urban Consumers for the 12-month period ending on March 31. The … Read more
Even before the pandemic, the Small Business Administration offered Economic Injury Disaster Loans for “losses not covered by insurance or funding from the Federal Emergency Management Agency (FEMA) for both personal and business” expenses and for “business operating expenses that could have been met had the disaster not occurred.” The SBA has also been offering … Read more
The Family and Medical Leave Act (FMLA) dictates that employers with 50 or more employees must give eligible employees up to 12 weeks of unpaid, job-protected leave for qualifying reasons. But when FMLA-covered employers vie for top talent, they usually offer prospects paid holidays. Unfortunately, when employees are offered more than one type of paid … Read more
