Business mileage rates--how much you can deduct if you use a car for business purposes--are dropping for 2016. The IRS announced on Thursday the standard mileage rates for taxpayers to use in calculating the deductible costs of using a car for business, charitable, medical or moving purposes: * Business use: 54 cents per mile (compared with 57.5 cents in 2015) * Medical or moving purposes: 19 cents per mile (down from 23 cents for 2015) The rate for service to a charitable organization is set by statute and has been fixed at 14 cents a mile since 1997. Taxpayers always have the option of calculating the actual costs of using their vehicle rather than using the standard mileage rates. The
When an employee has a medical condition and needs some leave time or other job adjustments, they are often protected by two separate and distinct federal labor laws: the Family and Medical Leave Act (FMLA) and the Americans with Disabilities Act (ADA). The purpose of this article is to explain how these two pieces of legislation interact and to describe some best practices for you with respect to leave administration. The FMLA is a federal law that provides both job-protected leave and benefits continuation rights to employees who need to take leave for their own serious health condition. (The FMLA also provides leave for several other reasons, but in this article we will focus on an emplo
The Department of Labor (DOL) has released proposed rules to update the white-collar exemptions from overtime, which would apply to nearly 5 million employees who work in executive, administrative, professional, outside sales, or computer positions. According to current regulations, the salary threshold for overtime exemption is $455 per week ($23,660 per year). The proposed rule would set the standard salary level at the 40th percentile of weekly earnings for full-time salaried workers ($921 per week, or $47,892 annually). The Department also proposes to establish a mechanism for automatically updating the salary and compensation levels going forward to ensure that “they will continue to
When it comes to Independence Day celebrations, a nod to Founding Father John Adams is in order. John Adams (1735-1826)--statesman, diplomat, and second president of the United States--was instrumental in negotiating in favor of independence at the Continental Congresses (1774-78), and signed the Declaration of Independence. On July 3, 1776, John Adams wrote to his wife Abigail with the following commentary regarding his hopes for Independence Day: "I am apt to believe that it will be celebrated, by succeeding Generations, as the great anniversary Festival. It ought to be commemorated, as the Day of Deliverance by solemn Acts of Devotion to God Almighty. It ought to be solemnized wit
Optimize Your Corporate Efficiency With Workflow Management Software Operational efficiency is a goal that most businesses aspire to achieve. Optimal productivity helps eliminate wasted time and resources as well as keeps everyone and everything running at maximum capacity at all times. Unfortunately, with so many variables and employees in place at any given organization, successfully obtaining streamlined operations can prove elusive at best, no matter what the size or scope of the company. If you are struggling to keep proficiency at the forefront in your operations, you may be an ideal candidate for workflow management software. A customized workflow management software solution offers
The Internal Revenue Service has released the final versions of two key 2015 forms and the related instructions that employers and insurers will send to the IRS and individuals this winter to report health care coverage they offered or provided. The IRS released draft forms and instructions for 2015 this summer and the final forms and instructions for 2015 are largely unchanged from the previously released drafts. To help employers in their preparations to meet new information reporting requirements the IRS has launched a new web page for employers. “The IRS is working to make it as easy as possible for employers to get the information they need about the new reporting requirements
Michigan has decreased the SUI taxable wage effective 7/1/2015. · Decreased SUI taxable wage base from $9,500 to $9,000, effective 7/1/15. · Decreased SUI Obligation Assessment taxable wage base from $9,500 to $9,000, effective 7/1/15. Note: The decreased wage base is only for non-delinquent employers. Delinquent employers must override the wage base to $9,500 if you do not qualify for the reduced wage base. The reduced taxable wage base does not affect the first and second quarters of 2015 and employers will not receive a refund for the SUI taxes paid on taxable wages that exceeded $9,000 for the first two quarters of 2015.
Identity theft was virtually unknown when the Social Security Administration began issuing SSN’s in 1936. It got off to a running start, however, in 1938, when wallet manufacturer E. H. Ferree accidentally sold a real social security number along with its wallets in department stores across the country. The idea was to show how a Social Security card would fit into its wallets. A sample card, used for display purposes, was inserted in each wallet. Company Vice President and Treasurer Douglas Patterson thought it would be a clever idea to use the actual SSN of his secretary, Mrs. Hilda Schrader Whitcher. The card in the wallet sold by Woolworth stores and other department stores
Managing Employee Expectations With A HCM (Human Capital Management) System As a manager, do you feel like there is a major gap between executive and employee expectations? It's a common workplace occurrence. If you're ready to effectively streamline the information gap between various layers within your organization, you may be ready for an HCM (human capital management) system. What Is An HCM System – And Why Do You Need It? A HCM (human capital management) system essentially helps business owners understand and recognize the value of each individual contributor (aka employee) within the organization. A well-designed HCM system will offer insight on the current value of a staff member
Washington Effective February 1, 2016, private employers located in the city of Tacoma with more than one employee must provide one hour of paid sick leave for every 40 hours worked, up to 24 in a calendar year. Employees who work in the city for 80 hours or more in a calendar year are entitled to PSL [Ordinance No. 28275, L. 2015].