Employee Benefits
Part-Time Workers
During the summer, it’s not uncommon to hire some part-time help to cover staff vacations or added workload. Before you post your ad and start interviewing, you need to determine what sort of worker you need and how they will be paid. Classification of a worker as an employee or a 1099 independent contractor has [...]
Health Tax Credit for Small Employers
The massive healthcare legislation includes a tax credit for small employers who pay at least 50% of their employees’ health insurance premiums. Unlike most of the future healthcare bill provisions, this employer federal tax credit can be claimed for year 2010 tax returns due this spring. This new tax credit is reported on IRS Form [...]
What to Expect from the New Unemployment Insurance Law for Employers
The Indiana General Assembly recently passed Unemployment Insurance (UI) legislation that will have an immediate affect on most businesses’ unemployment insurance premium rates. Business owners need to make sure that their accounting department, or outsourced payroll service, is in compliance with all the changes. The summary below, provided by the Indiana Department of Workforce Development, [...]
Are Employee Gifts Tax Deductible?
With the end of the year rushing towards us, many business owners are starting to think about gifts for their employees to show appreciation for a year’s worth of hard work. As you are working on your budget for gifts this year, make sure to familiarize yourself with the IRS rules. The IRS determines tax [...]