Posts Tagged ‘W-2’
by Marie Jett, CPA | Manager, Tax Services Group and
Larry Greenwalt, CPA | Chairman of the Board
On June 28, 2012 the Supreme Court, in a split 5 to 4 decision, upheld the individual mandate part of the Health Care Reform that each person must have health insurance. With the Supreme Court ruling behind us, we want to highlight the major tax and healthcare provisions that will affect taxpayers.
by Anita Dudley | Manager, Tax Services Group
The American Payroll Association (APA) has issued a press release that describes five basic tips on how to avoid IRS penalties when paying independent contractors.
by Stacey L. Spencer, QKA | Manager, Employee Benefit Services Group
There are many ways mistakes are made when it comes to administering a 401(k) plan. Keeping up to date on the regulations, while trying to do your ‘real’ job, can result in overlooking basic administration duties. The IRS has identified that one of the most common mistakes employers make is making certain that all eligible employees have been given the opportunity to make an elective deferral election. Sounds pretty basic…
Angela N. Crawford, CPA and Amanda Meko, CPA | Team Members of the Not-for-Profit Services Group
While compensation is usually considered a private matter, in the not-for-profit world, the Form 990 makes compensation of top officials open to public inspection.
Compensation for individuals is reported in Part VII of Form 990. The individuals to be listed include current officers and directors regardless of compensation amount, current key employees making at least $150,000, and the top five highest compensated employees making over $100,000. Other thresholds exist for payments made to individuals who formerly held these positions.
by Melissa Merrick and Larry Brodnik, CPA | Team Members of the Tax Services Group
There are two major changes that will be occurring in 2011 regarding FUTA (Federal Unemployment Tax Act) and SUTA (State Unemployment Tax Act): (1) FUTA rate for Indiana companies will increase from .8% to 1.1%, and (2) SUTA wage base will increase from $7,000 to $9.500.