Social Security and Medicare tax As of January 1, 2022, the maximum amount of annual earnings subject to Social Security increases to $147,000 (from $142,800 in 2021). There is no limit on the amount of earnings subject to the Medicare tax.
Yesterday, Maryland announced that the deadline for individual income state tax filings and payments will be extended from April 18, 2022 to July 15, 2022.
Subscribe to our blog, and we'll send articles straight to your inbox when they're published.
If you’re a government contractor and a potential client asked you to fill a position, could you give them a rough price on the spot? What would you charge for that position? What if a fellow contractor who wants to team with you on a proposal asked, “What is your wrap rate?” Just like building a house, laying the foundation may seem like a simple part of the overall construction process, but it’s the most important part of the entire project and in government contracting, it starts with the chart of accounts.
There are several accounting mistakes that government contractors make that can cause major headaches when uncovered during their federal acquisition regulation overhead audit. Here are five of the most common.
If your business is looking for ways to invest to increase accessibility for employees, customers and visitors with disabilities, there are two tax provisions that can help offset the cost of those expenses.
The Infrastructure Investment and Jobs Act was signed into law on November 15. While most of the legislation is related to investing in the nation’s infrastructure, there were a couple of tax provisions included in the bill. Here’s what you should know about two of those tax provisions: one affecting businesses and the other affecting brokers of cryptoassets.