California Makes Retirement Plans Mandatory for Employers

The State of California is implementing a phased in mandatory retirement program to improve workers access to retirement savings tools. Employers with five or more employees in California must either offer a qualified employer-sponsored retirement plan or participate in the state’s Individual Retirement Account (IRA) program known as CalSavers, effective June 30, 2022. Qualified Employer-Sponsored […]

Payroll Tax Deferral Confusion for Business Owners

On August 8, 2020 President Trump issued an Executive Memorandum allowing employees who make less than $104,000 per year to defer their payroll tax withholding starting September 1 through the end of 2020. The intent was to keep more money flowing through the economy to counteract the economic impact of the coronavirus pandemic and to […]

Corona Virus Causes Chaos for Small Employers

For small businesses, navigating employment related laws and regulations has long been a challenge. The COVID-19 outbreak has produced a double whammy for many companies. Many employers are dealing with a loss of revenue combined with increasing employer related costs due to newly expanded rules related to sick leave, paid family leave and expansion of […]

SSA Announces Higher 2020 Wage Cap

In order to fund Social Security benefits for millions of American citizens, employee wages are taxed up to a specified earnings limit, known as the taxable wage cap. The Social Security Administration recently announced changes to the maximum limit on earnings subject to the tax. In October 2019, the SSA announced that the taxable wage […]