Blog
Question of the Week: What is the Maximum Amount of Social Security Withholding Tax for 2011?
This week’s question comes from Adrienne, a sales manager. I normally earn in excess of the FICA limit ($106,800 in 2010 and 2011). I know the social security withholding rate has been reduced for...
Unemployment Insurance Weekly Claims Report Update for December 18, 2010
According to the US Department of Labor, in the week ending December 18, the advance figure for seasonally adjusted initial claims was 420,000, a decrease of 3,000 from the previous week’s revised...
Tip of the Week: Six HR Tips for Non-Compete Agreements
Many small businesses struggle to determine whether or not non-compete agreements are worthwhile to use. Such agreements are employment contracts designed to restrict an employee’s right to start a...
Illinois Unemployment Wage Base to Increase to $12,520
The Illinois Department of Employment Security has announced an increase in the taxable wage base for 2010. The wage base will increase from $12,520 for 2010 to $12,740 for 2011. Minimum and Maximum...
IRS Releases 2011 Publication 15-B
The Internal Revenue Service (IRS) recently released an updated version of Publication 15-B, Employer’s Tax Guide to Fringe Benefits. Publication 15-B Focuses on Taxation of Fringe Benefits...
Social Security Tax Reduction Will Have No Direct Impact on Benefits
The Tax Relief, Unemployment Insurance Reauthorization, and Job Creation Act of 2010 (2010 Tax Act) reduces the social security tax withholding rate from 6.2% to 4.2 % effective with payments made...
IRS Releases 2010 Form 940
The Internal Revenue Service (IRS) has released the 2010 Form 940, Employer’s Annual Federal Unemployment (FUTA) Tax Return, and accompanying instructions. Employers use Form 940 to report their...
Question of the Week: How Does the 2010 Tax Act Affect Payroll Taxes in 2011?
This week’s question comes from Matt, a company president. I know the tax bill has passed the Senate and House and that President Obama has signed it. How does the new tax bill affect payroll taxes...
Unemployment Insurance Weekly Claims Report Update for December 11, 2010
According to the US Department of Labor, in the week ending December 11, the advance figure for seasonally adjusted initial claims was 420,000, a decrease of 3,000 from the previous week’s revised...
Tip of the Week: First Quarter Interest Rates Decrease
In IR-2010-120, the Internal Revenue Service (IRS) announced that interest rates for the first quarter of 2011 would decrease from the fourth quarter. The rates are as follows: Three (3) percent for...
