Nov 22, 2024
In Rev. Proc. 2024-25, the IRS made changes for health savings accounts for 2025. The maximum annual HSA contribution is:
HSAs are used in conjunction with a High Deductible Health Plan. The 2025 maximum annual out-of-pocket amount for HDHP self-only coverage is $8,300. For HDHP family coverage it's $16,600.
For HSA-compatible HDHPs, the 2025 minimum deductible amounts are:
For the full details, see the IRS revenue procedure.
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Dec 20, 2024
Benefits can boost employee morale as well as loyalty to the job and your company, but some benefits come with tax implications. Read through to learn which benefits add to employee income so that you can withhold correctly and avoid penalties.
Dec 19, 2024
The Corporate Transparency Act was slated to affect many businesses in 2025 with some heavy-duty reporting requirements. But a court has just effectively stopped it, definitely for now, and possibly permanently. Read through for some details.
Dec 18, 2024
Form W-2 is the wage and tax statement that employers give to employees and to the IRS to show each employee's income earned and taxes withheld. Read through to better understand how the government uses the form.
Dec 17, 2024
It is important to understand the tax policies and initiatives that United States President-elect Donald Trump spoke about during his campaign. Some, all or even none of them may come to pass. Read through to see how the situation may change, so you can be prepared.
Dec 16, 2024
As it does every year, the IRS has made inflation adjustments to a variety of provisions. These take effect in 2025, and generally will be applicable when filing taxes in 2026. Read through for a summary of the main changes.
Nov 21, 2024
When a disaster strikes, it's critical to have a payroll continuity plan — a document outlining the steps necessary to manage payroll through disruption. Click through to learn how to create a multitiered plan that prepares your organization for many possibilities.
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