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IRS

Medical Mileage Rate Set to Increase

It’s no secret that gas prices in America today are pretty shocking. Recently, AAA reported that the national average cost for gas is up to $5 a gallon. That’s a whopping 75 dollars to fill up the average sedan. While we’re all feeling the effects of this price increase, those who need a car to access necessary medical care are the most affected. What Does Medical Mileage Rate Mean? The medical mileage rate is the amount that is deductible under the Internal Revenue Code 213 for gas used to transport oneself to and from essential medical care. This means those

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HR Management

Employee or Contractor? Which One Are You?

There has been a great deal of controversy lately in regard to the “Employee or Contractor” question. We see it everywhere in the post-Great Recession economy where people may be working as contractors to earn extra money or have been pushed into this world based on the job market. There are benefits and risks to both sides of this equation. Most importantly, the IRS has an opinion on the conclusion! Employee vs. Contractor Employer Perspective Benefit The contractor workforce is great for employers. They don’t need to pay for Workers’ Compensation, FICA, Medicare, Unemployment Taxes, and benefits in general. With

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Business

The New Revenue Procedures (Rev. Proc. 2022-24)

The IRS has rolled out new revenue procedures (Rev. Proc. 2022-24) which covers the 2023 inflation adjusted amounts for Health Savings Accounts (HSAs) as determined under section 223 of the Internal Revenue Code, and the maximum amount that may be made newly available for excepted benefit health reimbursement arrangements (HRAs) provided under section 54.9831-1(c)(3)(viii) of the Pension Excise Tax Regulations. In the new adjusted plan, all adjusted items will be as follows; HSA INFLATION ADJUSTED ITEMS Annual contribution limitation:  For calendar year 2023, the annual limitation on deductions under section 223(b)(2)(A) for an individual with self-only coverage under a high

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Benefits

Massachusetts Covid-19 Emergency Paid Sick Leave Has Ended

The Massachusetts Executive Office for Administration and Finance has announced that employers’ requirement to provide COVID-19 emergency paid sick leave has ended as of March 15, 2022. The leave requirement has expired because the COVID-19 Emergency Paid Sick Leave Fund, which reimburses employers for providing the leave, is nearing its disbursement limit. Otherwise, the provision would have remained effective until April 1, 2022. Employers may continue to seek reimbursement for qualifying leave costs taken between May 28, 2021, and March 15, 2022. Applications for refund must be submitted by April 29, 2022. If you are a Massachusetts employer: Notify employees

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HR Management

COVID19 Vaccination Inquiries: What Employers Need to Know

Many questions have been asked about how appropriate it is for an employer to ask applicants for COVID 19 vaccination proof. Debates have been held, with many arguing that if an employer is prohibited under the Americans with Disabilities Act (ADA) to inquire about the existence of a disability during the pre-employment phase, then the same should be applied to COVID 19 vaccinations. The Equal Employment Opportunity Commission (EEOC) has stated that vaccination inquiries are not covered under the ADA as they are not directly disability inquiries. Even though it is not prohibited, it is advised that employers tread with

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