BOI Filing - OFF Again - At Least for Now!
Beneficial Ownership (BOI) Filing with the Financial Crimes Enforcement Network (FinCEN) has been switched-back to a voluntary filing only, as the courts continue to debate whether the Corporate Transparency Act (CTA), which includes the BOI filing requirement is constitutional.
New for 2025: Higher 401K Catch-Up Contribution Limit to Apply at Ages 60-63
SECURE 2.0 Sec. 109 expanded catch-up contributions to allow a higher limit or what many plan administrators are calling "super" catch-up contributions beginning in 2025. Super catch-up contributions provide an opportunity for a group of employees ages 60, 61, 62, and 63 to maximize their retirement savings by increasing the annual limit of catch-up contributions.
NEW MINIMUM WAGE RATES FOR MANY STATES AND LOCALES
Local and state minimum wage rates are increasing effective July 1, 2024 in many areas across the country. In California, cities such as Alameda, Berkely, Emeryville, Fremont, Los Angeles, Malibu, Milpitas, Pasadena, San Francisco, Santa Monica, and West Hollywood all have new rates. States increasing their rates include Nevada, Oregon, and District of Columbia. There are also numerous local minimum wage increases in other states. Pay 'n Time clients can access the HR Support Center for details on these increases.
REDUCE YOUR ADMINISTRATIVE TIME. SUPPORT YOUR TEAM.
With one online system that can handle all of your payroll, timekeeping, and HR needs, delivered with the service you'd expect from a friend and neighbor.
Earned Wage Access - a new offer from Pay 'n Time!
Studies have shown that programs allowing employees access to their earned wages sooner than their next pay date increase employee retention and reduce costs like hiring and training new employees.