Many small business owners are coming to terms with the new tax reform 2018 bill. It has made drastic changes to income taxes associated with individuals and businesses, and below are the most important new tax rules that business owners should be aware of this year.
The Pregnant Workers Fairness Act has gone into effect starting April 1st. This law basically states that employers within the state of Massachusetts will not be able to deny females or recent mothers proper accommodations, even in cases where her pregnancy or condition isn’t considered a disability within current federal and state discrimination laws.
The Tax Cuts and Jobs Act law is now official, with the Internal Revenue Service releasing its newest tables for withholding of income taxes. Some aspects of the bill have left employers shaking their heads in regards to what it all means, and whether or not they will be affected by it. Below are some details that will clarify tax changes in 2018.
While receiving official IRS notices is rarely a pleasant experience, they can sometimes result from clerical issues or discrepancies involving payment, and can be resolved with ease. However, regardless of whether the issue is simple or complex, it is important for employers to handle these tax notices in the right way.
Employers in multiple industries have become aware of the importance of employee benefits and have taken steps to assist their workers in making sound financial decisions. In particular, employers are emphasizing those benefits which boost worker satisfaction, as well as loyalty and productivity. Here are some of the hottest employee benefits trends which are expected for 2018. Read More
Plan sponsors that have added additional features and benefits to their retirement plans during 2017 will need to make sure that the discretionary amendments are signed before December 31s. . Those who have made such amendments must also take the time to ensure they’re adopted formally before the close of the year. Read More
Recent actions by the IRS indicate that it’s about to take action regarding ACA mandate penalties. For months business owners have speculated about the ACA and employer responsibility within it, and how stringently the Internal Revenue Service would enforce it. The agency recently updated its Q and A for shared responsibilities among employers, and has revealed that mandate penalties for employers will be enforced and showcased within the 226J letter. Whether or not an employer is held liable is dependent primarily on the data which the employer submitted to the IRS previously. Below is the most important things business owners need to be aware of.
In September, the Internal Revenue Service introduced the 1094-C and 1095-C forms, which should be applied towards 2017 mandatory reporting. Below is what you need to know about these documents and how they should be used.
Transitioning from a business which operates in a single state to one that operates in multiple states is an important step towards becoming a large business, one of which business owners should be proud. However, while it presents many opportunities, there are also challenges, one of the most poignant of which is multiple state taxation. Below are some ways in which employers can deal with this situation.
The Trump administration has addressed DACA, or the Deferred Action for Childhood Arrivals program, which means that both small and large businesses must be cautious in regards to managing employees whom the program covers to ensure they are in compliance with federal law. Below are some key things to be aware of.