Paid Sick and Family Leave: The Tax Rules

As of this writing, 15 states and Washington, D.C., require paid sick leave, while eight states and Washington, D.C., require paid family leave. Many local governments also mandate paid sick or family leave. In addition, studies show that most employers offer paid...

Hidden Tax Break: Meal Deductions Get a Boost

The recently passed relief bill, officially called the Consolidated Appropriations Act, 2021, contained a provision designed to give a boost to the restaurant industry: upgrading what had been a 50% meal deduction to 100% for “food or beverages provided by a...

What’s the New Jobless Benefit Aid?

In the Consolidated Appropriations Act, 2021, Congress is adding federal unemployment benefits of $300 for at least 10 weeks — possibly 11. Details can get complicated, however, and because the bill was signed at the last minute, there is some uncertainty about how...

Know About the Unemployment Tax

Employers needs to make themselves familiar with Form 940, used to report the Federal Unemployment Tax Act tax. The FUTA tax provides funds for paying unemployment compensation to workers who have lost their jobs. Most employers pay both federal and state unemployment...

Aid Package Signed Into Law

As a follow-up to our blog post: New Coronavirus Stimulus Bill Passes Congress with PPP Loan Updates and Tax Implications, and our article related to the Impact of the Stimulus Bill for Individuals, President Trump signed the aid package bill late on December 27. A...
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