News, Hints and Tips

We are pleased to announce a new service offering available through Payroll Systems. We have partnered with isolved Benefit Services to provide setup and administration of cafeteria Section 125 Premium Only Plans (POP plans). A Section 125 cafeteria plan is a written employer-sponsored plan that allows employees to pay for certain qualified benefits on a […]

The Internal Revenue Service has announced a new, streamlined way for taxpayers to extend the period of time for the IRS and the IRS Independent Office of Appeals to review a taxpayer’s response to a disallowance of an Employee Retention Credit (ERC) claim to avoid refund litigation. When an ERC claim is disallowed by the […]

Classifying employees as exempt or nonexempt is not merely a formality; it affects workers’ rights and employer obligations. Misclassifying employees can expose you to back wages, penalties and enforcement actions. Understanding the applicable rules is essential. Under the Fair Labor Standards Act, the following definitions apply: Exempt employees Are generally not entitled to overtime pay […]

The federal Employer Credit for Paid Family and Medical Leave under Section 45S is now a permanent part of the tax code. The credit was created to encourage businesses to provide paid family and medical leave benefits to employees who need time away from work for personal or family-related reasons. Under the credit, eligible employers […]

An HSA is a type of savings account that you can open if you are covered by a high-deductible health insurance plan. In 2026, that means an insurance plan with a deductible of at least $1,700 for an individual or at least $3,400 for a family. You can’t open an HSA if you are enrolled […]

On February 27, 2026, the U.S. Department of Labor (DOL) issued a proposed rule under the Fair Labor Standards Act (FLSA) that would revise how worker classification is determined for employees versus independent contractors. The proposal would rescind the 2024 rule and return to a framework more similar to the 2021 rule, with certain modifications. […]

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 […]