Latest Highlights

End-of-Year Bonuses: Overtime & Tax Considerations for 2023

Monday, December 4, 2023
|
TotalSource- WFN

Many employers reward and recognize high performers with a bonus, especially toward the end of the year. If you award bonuses, there are several overtime and tax rules to consider. Here’s an overview of some of these rules to help you as you close out the business year in 2023.

End-of-Year Bonuses: Overtime & Tax Considerations for 2023

Monday, December 4, 2023
|
Resource

Many employers reward and recognize high performers with a bonus, especially toward the end of the year. If you award bonuses, there are several overtime and tax rules to consider. Here’s an overview of some of these rules to help you as you close out the business year in 2023.

End-of-Year Bonuses: Overtime & Tax Considerations for 2023

Monday, December 4, 2023
|
TotalSource- Core

Many employers reward and recognize high performers with a bonus, especially toward the end of the year. If you award bonuses, there are several overtime and tax rules to consider. Here’s an overview of some of these rules to help you as you close out the business year in 2023.

Minimum Wage Announcements

Monday, December 4, 2023
|
Comprehensive Service
The following states or localities have announced new minimum wage increases.

Minimum Wage Announcements

Monday, December 4, 2023
|
TotalSource- WFN
The following states or localities have announced new minimum wage increases.

Minimum Wage Announcements

Monday, December 4, 2023
|
Resource
The following states or localities have announced new minimum wage increases.

IRS Announces 2024 Benefit Plan Contribution Limits

Monday, December 4, 2023
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Comprehensive Service
On Nov.  9, 2023, the Internal Revenue Service (IRS) announced via Revenue Procedure 2023-34 the dollar limitation for 2024 on employee salary reductions for contributions to health flexible spending accounts; the monthly limitation regarding the aggregate fringe benefit exclusion amount for transportation in a commuter highway vehicle and any transit pass; and the maximum amount that can be excluded from an employee’s gross income for the amounts paid for qualified adoption expenses furnished pursuant to an adoption assistance program.

Ohio Enacts Recreational Marijuana Law

Monday, December 4, 2023
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Comprehensive Service
Voters in Ohio approved a ballot measure, An Act to Control and Regulate Adult Use of Cannabis (the Act), which legalizes recreational marijuana. The law takes effect on Dec. 7, 2023.

Colorado requires new annual notice - Updated

Monday, December 4, 2023
|
Comprehensive Service
The Colorado Department of Revenue has released a model notice to satisfy the notice requirement.   Colorado employers should review the model notice instructions carefully and distribute the notice to employees accordingly.
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