2021 Retirement Plan Contribution Limits
401(k) Employee deferral remains at $19,500. 401(k) Catch-up (age 50 yrs and older) remains at $6,500.401(k) max limit employee + employer (age 49 and younger)
December 16, 2020 No Comments
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South Dakota Minimum Wage increase effective 1/1/21
Effective January 1, 2021, South Dakota’s minimum wage will increase to $9.45 per hour. The minimum base wage for tipped employees will increase to $4.73
December 16, 2020 No Comments
View your paychecks and W-2s in QuickBooks Workforce
Learn how to see your paychecks, W-2s, and personal info in Workforce. Once your employer has invited you to QuickBooks Workforce and you’ve set up your account,
December 3, 2020 No Comments
2021 HSA Contribution Amounts Announced by IRS
Rev. Proc. 2020-32 provides the 2021 inflation adjusted amounts for Health Savings Accounts (HSAs) as determined under § 223 of the Internal Revenue Code. For
May 22, 2020 No Comments
Health Insurance Costs of Employee Family Members of 2-Percent Shareholders
The Office of Chief Counsel of the Internal Revenue Service issued Memorandum 201912001 on 03/22/2019 addressing whether health insurance costs of employee family members of
May 21, 2020 No Comments
2020 Retirement Plan Limitations on Benefits and Contributions
The tax law places limits on the dollar amount of contributions to retirement plans and IRAs and the amount of benefits under a pension plan.
May 20, 2020 No Comments
SEP IRA Compensation
A SEP plan’s definition of employee compensation must satisfy rules for determining the amount of contributions. The amount of compensation taken into account under the plan is
May 20, 2020 No Comments
How to enter FFCRA paid leave into QuickBooks Online
With QuickBooks Online Payroll, you can ensure your employees have the money they need inline with the Family First Coronavirus Response Act (FFCRA). Before you can pay
April 6, 2020 No Comments
Tax Credits for Paid Sick and Family and Medical Leave under FFCRA
The purpose of these credits serve to help employers pay for the provisions of the Family First Coronavirus Recovery Act (FFCRA) for paid leave. We are
April 1, 2020 No Comments
FFCRA mandatory employee rights poster
As part of the Family First Coronavirus Recovery Act (FFCRA), employees at small businesses may be entitled to a number of new benefits for sick
March 30, 2020 No Comments
Warren Buffett Says You Will Be Worth 50 Percent More if You Improve This 1 Human Skill
Two years ago, Warren Buffett shared the back seat of a car with a young startup founder who was selected to be the Oracle of Omaha’s personal
March 30, 2020 No Comments
Law Firm’s overview of COVID-19 Stimulus Bill Includes Small Business Loan Programs
By Eric L. Kintner, Jonathan E. Frank, Victor J. Roehm III, and David Rao Today, March 27, the United States House of Representatives passed the “Coronavirus
March 30, 2020 No Comments
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