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The Looming Social Security Shortfall: Why Saving for Retirement is More Crucial Than Ever

Written by Drew Nicol, CPA Social Security has been a staple of financial security for millions of Americans since 1937 providing essential support during retirement, disability, and other life-altering circumstances.

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2024 Social Security Wage Base Update

The wage base limit is the maximum wage that is subject to Social Security tax for that year. In 2023, the Social Security Wage base was $160,200 and is increasing

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You Can Now Potentially Withdraw Your ERC Claim

Written by Sarah Shirley Earlier this fall, the IRS issued a moratorium on the processing of any new Employee Retention Credit (ERC) claims through at least the end of the

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2023 Alabama Unemployment Tax Rate Notices

What’s happening? The Alabama Department of Revenue has started releasing 2023 Tax Rate Notices. Alabama no longer mails paper copies of these notices, so employers who are subject to Alabama

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2023 Social Security Wage Base Update

As we approach the end of the year, it is important to remain aware of changes that may affect your payroll software. One of the changes will be to the

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Federal 941 Payroll Tax Lookback Procedures

Do you pay Federal 941 payroll taxes on a monthly deposit schedule? If so, it may wise to perform an annual checkup to find out if you are required to

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How Does Your Compensation Look Under the Microscope and Why Should You Care?

Written by Rebecca Tipton, SHRM-SCP With the end of the year quickly approaching, many companies are in the middle of budget planning, which is the perfect time to conduct a

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Preparing for W-2 and 1099 Season

The holidays are around the corner, and before we know it, January 2023 will be here! Let’s take a look at what we can do now to make the preparation

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How to Repay Q4 Employee Retention Credit (ERC)

By Cooper Melvin, JD If you received an advance payment of the employee retention credit for the fourth calendar quarter of 2021, you might have to repay the amount received.

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Federal 941 Payroll Tax Lookback Procedures

IRS Notice 931, Deposit Requirements for Employment Taxes, lists requirements for depositing payroll taxes such as federal income, social security and Medicare taxes. If your company is currently paying Federal

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The Current State of the PPP: What You Need to Know Now About Your Loan

            The Paycheck Protection Program, which was established by the CARES Act, was created to provide small businesses with funds to provide coverage of payroll

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Presidential Order Deferring Payroll Tax Obligations in Light of the Ongoing COVID-19 Disaster

On August 8, President Trump issued a memorandum to the Secretary of Treasury entitled “Deferring Payroll Tax Obligations in Light of the Ongoing COVID-19 Disaster.” The payroll tax deferral in this

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