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2018 Pension Plan and Retirement Plan Limits
The IRS recently announced 2018 pension plan and retirement plan limits. For employees with 401(k), 403(b), and most 457 retirement plans, the contribution limit will increase from $18,000 to $18,500. This increase also affects the government’s Thrift Savings...
Tax Implications of New York Paid Family Leave
New York State’s Department of Taxation and Finance released guidance regarding the tax implications of New York Paid Family Leave (PFL), the benefits of which take effect on January 1, 2018. As PFL premiums are funded through employee payroll deductions, the...
WOTC Look-Back Period Extended
The IRS announced last week that businesses that qualify for the Work Opportunity Tax Credit (WOTC) can continue to claim credits until August 31, 2016 for employees hired on or after January 1, 2015. This look-back period had expired on May 31st, but a recent notice...
