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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...
How to Determine the True Cost of an Employee
If your business is interested in cost analysis, bidding jobs, or pro forma financial statements, you need to know how to determine the true cost of an employee. Calculating the true cost of an employee is more complex than most people realize. First, you need to...
