News, Hints and Tips

Effective January 1, 2026, Social Security and Supplemental Security Income (SSI) benefits increased by 2.8% based on the cost-of-living adjustment (COLA). Key figures for 2026:  Maximum Social Security benefit at full retirement age: $4,152 per month (up from $4,018 in 2025) Estimated average monthly benefits:  All retired workers: $2,071 Aged couple: $3,208 Disabled worker: $1,630 Social Security taxes and earnings:  […]

Learn how to create an effective payroll budget to avoid wondering how and where your money was spent. Creating a payroll budget helps you understand what percentage of your budget should go to payroll and enables you to stay on track throughout the year. Generally, payroll should account for about 15% to 30% of your […]

Audits play a crucial role in providing transparency for clients and fostering confidence in a company’s financial reporting. An audit is particularly reassuring in uncertain business environments. At their core, audits are designed to assess whether a company’s financial statements are materially accurate and fairly reflect its financial position in accordance with applicable accounting standards. […]

Advance planning starts with understanding new rules before they come into effect. The One Big Beautiful Bill Act introduced a wide range of tax changes, including several provisions that have received relatively little attention but will affect individual and business taxpayers beginning in 2026. What follows is a summary of key changes to be aware […]

Businesses sometimes misclassify individuals as contractors to avoid payroll taxes, unemployment insurance or workers’ compensation premiums. But if the IRS, the Department of Labor or a state agency finds misclassification, you may be liable for: Back payment of the employer share of Social Security and Medicare taxes Unpaid unemployment and workers’ compensation premiums Overtime and […]

Maintaining accurate payroll records is essential for more than just compliance with labor and tax regulations. Good records provide a clear picture of earnings and deductions, strengthen budget planning and build trust with employees. They serve as evidence in the event of an audit, help identify irregularities before they become problems, and reduce the risk […]

On November 21, the IRS issued Notice 2025-69, offering new guidance to help eligible employees calculate tax deductions for tips and overtime compensation for the 2025 tax year. These deductions stem from Public Law 119-21, known as the One Big Beautiful Bill Act (OBBBA), and are designed to simplify the process for workers who may […]

The One Big Beautiful Bill (OBBB), signed into law on July 4, 2025 (Pub. L. 119-21), introduces a wide range of tax and payroll changes that will affect multiple filing seasons. The IRS and Treasury have been steadily releasing draft forms, guidance and proposed regulations to help employers and employees prepare. Here’s a comprehensive update covering the latest […]

The IRS is preparing to retire its longtime Filing Information Returns Electronically (FIRE) system, with the change slated to take effect for tax year 2026 and the 2027 filing season. Beginning that year, the Information Returns Intake System, better known as IRIS, will become the sole platform for submitting information returns electronically. The agency is […]

A landmark Texas law will shape how artificial intelligence and biometric data are handled in the workplace. Under House Bill 149 (the Texas Responsible Artificial Intelligence Governance Act), signed into law June 22, 2025, a comprehensive governance structure for AI takes effect January 1, 2026. While the statute’s most restrictive provisions apply to government entities, businesses […]