Below are federal payroll tax rates and benefits contribution limits for 2023. Social Security tax In 2023, the Social Security tax rate is 6.2% for employers and employees, unchanged from 2022. The Social Security wage base is $160,200 for employers and employees, increasing from $147,000 in 2022. Self-employed people must pay 12.4% on the first $160,200. Medicare tax In … Read more
Whether you are planning a retirement party for a coworker, a departing boss or even yourself, the most important rule is that it should be an enjoyable and meaningful occasion. While it may be slightly bittersweet for the retiree after many years in the job, it is still a chance to send them off in … Read more
According to the SBA, the HUBZone program fuels small business growth in historically underutilized business zones. The idea is to award at least 3% of federal contract dollars to eligible companies annually. To help small businesses, the government limits competition for certain contracts to only those businesses in historically underutilized business zones. The SBA also … Read more
Moving from an individual contributor to a manager is a common career progression for many professionals. While it is an exciting opportunity, this also presents a unique set of challenges. Making this transition requires a shift in mindset, a change in focus, and the development of new skills. We will explore the challenges of moving … Read more
You may want to require employees to sign noncompete agreements to keep them from working for rival companies. Will these protect the business? The answer is … maybe. Over time, courts have become less willing to uphold strict provisions. Indeed, President Biden has issued an executive order for the Federal Trade Commission to examine abusive … Read more
Are you working on this year’s tax return or planning for the future? Either way, you should know the rules on business travel tax deductions. According to the IRS, whether someone travels for work once a year or once a month, figuring out travel expense tax write-offs might seem confusing. Fortunately, the IRS has information … Read more
The IRS has announced that businesses can now file Form 1099 series information returns using a new online portal, available free from the IRS. Known as the Information Returns Intake System, this free electronic filing service is “secure, accurate and requires no special software,” according to the agency. Although any business can use it, the … Read more
Employee wellness has become an increasingly important topic in the workplace, and for good reason. Not only is it important for the health and well-being of employees, but it is also critical to employee retention and engagement. Employees who are happy, healthy, and engaged are more likely to stay with their current employer, which can … Read more
Ed Radwinsky, MA, SPHR joins BlueStone Services, LLC as a HR Consulting Manager. He is an accomplished Human Resources professional with more than 25 years of experience across multiple industries. He has worked for global public corporations, venture capital funded start-ups, private firms, and non-profit companies. In his roles, he provided vision and leadership in the design and … Read more
