Tag: Taxes (page 2 of 4)
If you installed a solar panel system or another type of renewable energy system during 2023 to your home, you may be eligible for a tax credit which would be equal to around 30% of the total cost of installation.
If you purchased a new qualified plug-in electric vehicle that is less than 4,000 pounds and has a battery of at least 4 kilowatt-hours, you may be eligible for a tax credit up to $7,500 per vehicle!
The IRS has announced the contribution limit for employees who participate in a 401K, 403B and most 457 plans has increased to $23,000 for the tax year 2024 (up from $22,500 for 2023).
The catch-up contribution limit for employees aged 50 and over who participate in these plans will remain at $7,500 for 2024.
As of 1/1/2024, minimum wage in New York State is as follows:
General Minimum Wage Rate Schedule
NYC – Large & Small Employers $16.00
Long Island & Westchester $16.00
Remainder of New York State $15.00
The minimum wage rate differs based on industry and region.
Click here for additional information for:
- tipped, fast food, and other workers
- free posters on the increased minimum wage specific to your industry
Employers must post a Minimum Wage Information poster as well as various other posters in their place of work visible to all employees.
Starting with tax year 2023, if your business has 10 or more W2s and/or 1099s to prepare, you must file them electronically with the IRS.
The IRS has announced the contribution limit for employees who participate in a 401K, 403B and most 457 plans will increase to $20,500 for the tax year 2022 (up from $19,500 in 2021 and 2020).
The catch-up contribution limit for employees aged 50 and over who participate in these plans remains unchanged at $6,500.
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