Expect your Unemployment Rates to Rise in 2009

by Ted

States face unemployment cash crisis Job losses mount: 1.2 million in ’08 State unemployment insurance trust funds are rapidly running out of money amid soaring job losses. This is prompting state officials to consider raising employer taxes or curtailing benefits, while forcing them to borrow from the federal government to cover claims. “Some states didn’t […]

Three states announce 2009 Withholding rates

by Ted

Three states have made public their 2009 Withholding Tax Tables. California and Minnesota have both inflation adjusted their tax tables. Nothing too exciting here. New Mexico actually has lowered the top rate to 4.9% from 5.3% for single taxpayers making over 18050 and married taxpayers making over 31750. PayMaster Hospitality will update these and the […]

Please VOTE Tomorrow : November 4th 2008

by Ted

Tomorrow is Tuesday, Nov. 4, Election Day.  As citizens, we all have the opportunity to exercise our very precious right to vote. When we go to the polls tomorrow to vote for the offices of president, U.S. senator, congressman, governor, state senator, House members and county officials, take a look at each candidate and choose […]

2009 SUTA Wage Bases announced

by Ted

States increasing their taxable wage bases in 2009: Idaho ($33,200) Illinois ($12,300) Iowa ($23,700) Minnesota ($26,000) Missouri ($12,500) Montana ($25,100) Nevada ($26,600) New Jersey ($28,900) New Mexico ($20,900) North Dakota ($23,700) Oklahoma ($14,200) South Dakota ($9,500) Washington ($35,700) Wisconsin ($12,000) Wyoming ($21,500). States with no change in 2009: Alabama ($8,000) Arizona ($7,000) Arkansas ($10,000) California […]

Wisconsin Unemployment News

by Ted

From the Wisconsin UI Employer Update Beginning in 2009, each employer will pay unemployment taxes on the first $12,000 of wages paid to each employee annually. This “taxable wage base” will increase to $13,000 in 2011 and $14,000 in 2013. Decreased basic tax rates and increased the solvency tax rates by the same amount. Required […]

Retirement Plan Dollar Limits Increase for 2009

by Ted

From the IRS web site IR-2008-118, Oct. 16, 2008 – The Internal Revenue Service announced cost-of-living adjustments applicable to dollar limitations for pension plans and other items for tax year 2009. Section 415 of the Internal Revenue Code provides for dollar limitations on benefits and contributions under qualified retirement plans. In addition, section 415 requires […]

Social Security wage base rises to $106,800 for 2009

by Ted

Social Security’s Old-Age, Survivors, and Disability Insurance (OASDI) program limits the amount of earnings subject to taxation for a given year. The same annual limit also applies when those earnings are used in a benefit computation. This limit increases each year with increases in the national average wage index. We call this annual limit the […]

Indiana Withholding Update

by Ted

The Indiana Department of Revenue has revised some of its county income tax rate tables  The following counties have changed their income tax rates, effective Oct. 1, 2008. (1) Carroll:1.15% on residents and 0.4% on nonresidents (2) Huntington:1.6% on residents and 0.5% on nonresidents (3) Miami: 2.54% on residents and 0.965% on nonresidents (4) Posey: […]

Lobbyists use new provisions to hunt bailout votes

by Ted

WASHINGTON — Lobbyists for restaurants hunted votes Wednesday for the $700 billion financial industry bailout package, touting new provisions that leaders added in hopes of finally pushing the bill through Congress. Working off a color-coded spread sheet listing House members whose “no” votes sank the bill in that chamber on Monday, business groups contacted dozens […]

State Minimum Wage Updates

by Ted

Five states announcing minimum wage increases for Jan. 1, 2009. Arizona will increase from $6.90 to $7.25 per hour. Colorado will increase from $7.02 to $7.28 per hour. Oregon will increase from $7.95 to $8.40 per hour Vermont will increase from $7.68 to $8.06 per hour. Tipped employees will increase from $3.72 to $3.91 per […]