Updated April 13, 2020 In August, 2019, the IRS posted an “early release” of the 2020 W-4 available to the payroll industry, knowing that this form may cause some disruption. The release of the 2020 W-4 comes as a result of the passage of the 2017 Tax Cuts and Jobs Act (TCJA). Subsequently, the [...]
More employees may no longer be exempt from overtime if the rules proposed by the Department of Labor in March of 2019 become finalized. As discussed in our blog back in February, Secretary of Labor, Alexander Acosta, has indicated that the administration does support an increase in the salary limits. These limits have been only [...]
On April 1, 2019, the U.S. Department of Labor (DOL) published a proposed rule that affects the definition of joint employer status, commonly understood as a situation where an employee is employed by multiple organizations that have some relationship in the management of the employee. The definition of joint employer status today is generally based [...]
While “financial literacy” could have a negative connotation for some, in the context of financial wellness, it is an enormous advantage. Many employers implement financial wellness programs or tools thinking it’s a way to help employees fix a problem. And for many it does. However, there is more to it than that. What is financial [...]
Financial wellness is a term that means different things to different people, especially in the workplace. If you ask a business owner, a benefits manager, a broker and an employee what financial wellness means to them, you will likely get a lot of very different answers. If you ask what a financial wellness program should [...]
In response to changes in federal taxes by the Tax Cuts and Jobs Act (TCJA) passed in December of 2017, the IRS released an early draft of the new 2020 W-4 on May 30th. Read more about the reasons for the change here. This new form will require payroll software and service providers to change [...]
In early March, the Department of Labor (DOL) Wage & Hour Division issued some proposed changes to the overtime rules. These rules have been relied upon by the payroll industry for several years to determine who can be a salary, exempt employee and who should be paid overtime wages. Back in 2016, the Obama administration [...]
Late last year, word from the IRS was that we could take a sneak peek of the new W-4 in March of this year. Read more here about the information we had at that time. As background, the Tax Cuts and Jobs Act (TCJA) – passed in December of 2017 – made significant changes to [...]
Most of the time when you think of an employee benefit, you think of a program that helps you attract and retain employees. It benefits your staff but not really your company. In fact, you might even think of them as an expense. But what if there was an employee benefit that helped both your [...]
If you’re worried about where your accounting and payroll software is going to fit in with the new push to the cloud, I have a little story to tell that might calm your fears. Remember this? Remember when the business world switched from DOS to Windows? Anyone? Well, I admit it, I was there. And [...]