The 2023 rate for employee use of a personal vehicle is 65.5 cents per mile. Each year, the IRS releases mileage reimbursement rates for the coming year. This is the rate that is commonly used by employers to reimburse employees who use their personal cars for business purposes. If an employer reimburses at a higher rate,… Read More »IRS Mileage Rate for 2023
We have just received information on the process for a church or religious organization to opt in to the program, as posted on the PFML website: If you are an employer whose workforce is excluded in whole or in part under the unemployment insurance statute, M.G.L. c. 151A, you as an employer may opt-in to… Read More »Paid Family & Medical Leave Opt-In Process
Health Insurance reform has changed from year to year, at both the federal and state levels. Effective November 2018, any Massachusetts employer with six or more employees is required to complete a new Health Insurance Responsibility Disclosure (HIRD) form to determine eligibility for premium assistance for employees who receive group insurance. The form is filed… Read More »Annual Massachusetts Health Insurance Reporting Requirement — due by December 15
On October 8th, the SBA released Form3508S, to be used by employers whose PPP loans were $50,000 or less. This form asks for your verification that all of the funds were used for forgiveable expenses, but no numbers are required. It is not yet clear whether individual banks will have additional requirements for documentation. If… Read More »Another PPP Simplification
According to IRS rules, income tax withholding for ministers is voluntary. If you do not complete a W-4 form, or if you indicate “exempt”, no federal tax will be withheld, and you should make quarterly estimated tax payments. Alternatively, you can complete Form W-4 so that your employer withholds a sufficient amount to cover both… Read More »Clergy Withholding and the new W-4
If you (as a Massachusetts employer) paid any of your employees or 1099 contractors for time that you were closed due to COVID-19 and they were not performing any work for you, you may be able to reduce your workers’ compensation insurance costs during 2020. First, since WC rates are a small percentage of wages,… Read More »Workers’ Compensation COVID-19 Savings
On August 8th, President Trump declared that he was deferring the collection of the employee portion of FICA, a 6.2% payroll tax that funds retirement and disability payments to American workers. However, this amount would have to be repaid by workers in early 2021. Furthermore, if an employee leaves, the employer would be required to… Read More »September 1 Payroll Tax Deferral
Every employer must comply with the Families First Coronavirus Response Act, which gives two weeks of paid leave for COVID-related absences that occur between April 1 and December 31, 2020. The leave is funded by the federal government. The paid leave is reported on the employer’s quarterly Form 941 — so if you use an… Read More »FFCRA Compliance for Q2
On June 5, the Paycheck Protection Program Flexibility Act was signed into law, extending the time period during which employers have to use the funds and have their loan forgiven. When the PPP was originally designed in March, the expectation was that businesses and organizations would be back to full operation by the end of… Read More »PPP Forgiveness Updates
The SBA has released their PPP Loan Forgiveness Calculation Form, PPP Schedule A, and PPP Schedule A worksheet. Your bank may have their own loan forgiveness application, but it will likely be similar to the SBA forms. Our newly updated (v5) spreadsheet will assist you with the preparation of your payroll and expense information. The… Read More »PPP Loan Forgiveness Application