Archive for the ‘Payroll Taxes’ Category

Características de un buen programa de nómina.

Icon Written by Administrator on November 2, 2013 – 4:26 pm

A la hora de seleccionar un programa de nómina debemos estar seguros de que el mismo posea unas características básicas. Cumplimiento La primera característica que debe poseer el programa de nómina es que cumpla con todos los requisitos de la jurisdicción en la cual se va a utilizar. Dichos requisitos comprenden la capacidad de calcular […]

Social security and Medicare tax for 2011.

Icon Written by Administrator on December 24, 2010 – 10:43 am

For 2011 the employee tax rate for social security is 4.2% (down from 6.2% for 2010). The employer tax rate for social security remains unchanged at 6.2%. The 2011 social security wage base
limit is $106,800. In 2011, the Medicare tax rate is 1.45% each for employers and employees, unchanged from 2010. There is no wage base limit for Medicare tax.

HIRE Act: Questions and Answers for Employers

Icon Written by Administrator on June 25, 2010 – 10:30 am

Under the Hiring Incentives to Restore Employment (HIRE) Act, enacted March 18, 2010, two new tax benefits are available to employers who hire certain previously unemployed workers (“qualified employees”).

Law Increases 401K Annual Limits

Icon Written by Administrator on May 13, 2009 – 9:59 am

On August 7, 2008, the Governor of Puerto Rico signed into law Act 186, which increases the pre-tax contribution limits for Section 1165(e) savings plans. Under prior law, pre-tax contributions were limited to the lesser of 10 percent of compensation or $8,000 per year. The new law removes immediately the 10 percent cap, so that the limit for 2008 plan years is $8,000 regardless of compensation. It also increased the annual limits for plan years beginning in 2009 and thereafter as follows:

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What is FICA?*

Icon Written by Administrator on April 29, 2009 – 9:37 pm

The Federal Insurance Contributions Act (FICA) tax (pronounced /ˈfаɪkə/) is a United States payroll (or employment) tax imposed by the federal government on both employees and employers to fund Social Security and Medicare —federal programs that provide benefits for retirees, the disabled, and children of deceased workers. Social Security benefits include old-age, survivors, and disability […]

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Social Security (FICA) Wage Limits and Tax Rates

Icon Written by Administrator on April 29, 2009 – 9:03 pm

While Social Security and Medicare rates have remained the same for the last 12 years, Social Security limit has grown 63% during the same time period.

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