518-373-4111
Is Severance Pay Subject to Payroll Taxes?
On March 25, 2014, the U.S. Supreme Court ruled in favor of the IRS in a case against a now-defunct employer, Quality Stores. At issue was the question of whether severance pay for laid off workers was subject to Social Security and Medicare taxes under the Federal...
New Federal Overtime Regulations Proposed
The Department of Labor regulations that dictate which workers may be classified as exempt from overtime pay are likely to be updated in the near future due to a directive from President Obama. The President is especially interested in seeing the minimum salary...
Disaster Recovery Plan Keeps Your Payroll Safe
Recent storms have been hammering various parts of the country, leaving thousands without power, even now as they continue to recover. These types of unforeseen disasters not only affect people’s personal lives, but they can also severely impact your business…if you...
Tax Changes for 2014
There have been many tax changes for 2014. The following table provides some important federal tax information for 2014 (and 2013). Some of the dollar amounts change due to inflation. Other amounts are changing due to legislation. Please contact GTM with any questions...
