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IRS Announces 2010 Retirement Plan Contribution and Compensation Limitations
In IR-2009-094, the Internal Revenue Service (IRS) announced that for 2010 the compensation limitation will remain at $245,000 under §401(a)(17), §404(l), §408(k)(3)(C), and §408(k)(6)(D)(ii) of the...
Social Security Administration Announces 2010 Changes
The Social Security Administration announced recently that the Maximum Taxable Earnings or Social Security Wage Base would not change for 2010. Since there was no increase in the Consumer Price...
IRS Announces 2010 Highly Compensated Employee Limitation
In IR-2009-094, the Internal Revenue Service (IRS) announced that for 2010 the Highly Compensated Employee Limitation under §414(q)(1)(B) of the Internal Revenue Code of 1986 will remain unchanged....
IRS Announces Adjustments to SIMPLE Plan Limits for 2010
In IR-2009-094, the Internal Revenue Service (IRS) announced cost-of-living adjustments to the limits on SIMPLE plan contributions for 2010. The limitation for SIMPLE plans is codified in...
Question of the Week: Do I Need a Separate EIN for My Single Member LLC?
This week’s question comes from Kevin, a sole proprietor. I am forming an LLC and will be converting from a sole proprietorship to a single member LLC, but still taxed as a sole proprietor. Do I...
Unemployment Insurance Weekly Claims Report Update for October 10, 2009
According to the US Department of Labor, in the week ending October 10, the advance figure for seasonally adjusted initial claims was 514,000, a decrease of 10,000 from the previous week’s revised...
Tip of the Week: Institute Effective Practices and Systems for Your Hiring Process
For new employees, a smooth and efficient transition to the company can reap rewards for years to come. When it’s time to hire your next new employee, our Hiring Quick Guide will help you institute...
Wyoming Unemployment Wage Base to Increase to $22,800
Director Gary W. Child of the Wyoming Department of Employment has announced an increase in the taxable wage base for 2010. The wage base will increase from $21,500 for 2009 to $22,800 for 2010....
Montana Unemployment Wage Base to Increase to $26,000
Administrator Roy Mulvaney of the Montana Department of Labor and Industry has announced a 4% increase in the taxable wage base for 2010. The wage base will increase from $25,100 for 2009 to $26,000...
New Mexico Unemployment Wage Base to Decrease to $20,800
Secretary Ken F. Ortiz of the New Mexico Department of Workforce Solutions has announced a decrease in the taxable wage base for 2010. The wage base will decrease from $20,900 for 2009 to $20,800...
