Category: Taxes – Payroll and Benefits
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What You Need to Know About the New Tip & Overtime Deductions for 2025
In late 2025, the IRS issued several important Notices providing guidance on how employees, gig workers, and employers should handle tips and overtime pay for the 2025 tax year. These deductions—created under the One Big, Beautiful Bill Act—will impact millions of U.S. workers. Below is a clear breakdown of what the new deductions are, what…
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Understanding IRC §409A: Deferred Compensation Rules Every Employer Should Know
Deferred compensation plans are an important tool employers use to attract and retain talent. They allow employees to earn compensation today but receive it later — often at retirement, separation, or another milestone. But with this flexibility comes significant complexity, especially for nonqualified deferred compensation (NQDC) plans. Enter IRC §409A, enacted in 2004 after the…
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Payroll Taxes and Employee Benefits
Payroll Taxes and Employee Benefits Often times we here about income tax rates, both federal and state, in the headlines. However, we often neglect the impact of other payroll related taxes that need to be addressed both from an employer and an employee perspective. This post is intended to summarize the applicable payroll/employee related taxes…