Tag: TheBYBLLC (page 4 of 5)
Some phony charities will have names that are similar to well-known organizations, as well as websites that sound or look like those of legitimate organizations.
The IRS has a charity search feature, Tax Exempt Organization Search, that allows people to find legitimate, qualified charities to which donations may be tax-deductible.
If requested, charities can provide their Employer Identification Number (EIN) which can be used to verify their legitimacy through the IRS charity search tool.
Taxpayers change their names for several reasons (i.e. new marriage, recent adoption, divorce).
Regardless of the reason, taxpayers should notify the Social Security Administration (SSA) of any name changes as soon as possible. The IRS checks the SSA records to ensure that the names and social security numbers on the forms match.
Failing to notify the SSA of a name change can delay the processing of a taxpayer’s federal tax returns as well as any tax refunds.
The IRS suggests the following to safeguard your personal information:
• Do not routinely carry a Social Security card or other documents showing a Social Security number.
• Do not overshare personal information on social media. This includes information about past addresses, a new car, a new home and children.
• Keep old tax returns and tax records under lock and key.
• Safeguard electronic files by encrypting and properly disposing them.
• Shred tax documents before trashing.
This online tool by the IRS allows taxpayers to check the status of their refund anytime.
Taxpayers can start checking on the status of their return within 24 hours after the IRS received their e-filed return, or four weeks after they mail a paper return.
Starting 12/31/2018 through 12/30/2019, the basic minimum wage will be $11.10 per hour in most of New York State.
The minimum wage rate differ based on: the fast food industry, tipped workers, Long Island, Westchester County, large and small employers in New York City.
General Minimum Wage Rate Schedule
NYC – Large Employers (of 11 or more) $15.00
NYC – Small Employers (10 or less) $13.50
Long Island & Westchester $12.00
Remainder of New York State $11.10
For more information on the increased minimum wage specific to your industry, please click here.
Employers must post a Minimum Wage Information poster as well as various other posters in their place of work visible to all employees.
Beginning on Jan. 1, 2019, the standard mileage rates for the use of a car (also vans, pickups or panel trucks) will be:
- 58 cents per mile driven for business use, up 3.5 cents from the rate for 2018,
- 20 cents per mile driven for medical or moving purposes, up 2 cents from the rate for 2018, and
- 14 cents per mile driven in service of charitable organizations.
It is important to note that under the Tax Cuts and Jobs Act, taxpayers cannot claim a miscellaneous itemized deduction for unreimbursed employee travel expenses. Taxpayers also cannot claim a deduction for moving expenses, except members of the Armed Forces on active duty moving under orders to a permanent change of station.
For more details see Notice-2019-02.
As of January 1, 2019, the maximum wage base that is subject to the Social Security payroll tax will increase from $128,400 to $132,900.
There is no limit on earnings subjected to the Medicare payroll tax.
Beginning in October 2018, all New York State employers, regardless of size, must adopt a sexual harassment prevention policy. Aside from implementing the policy, employers must conduct training or use a similar policy that meet or exceeds the law’s minimum standards.
All employees must complete the training by October 9, 2019. Employers are required to ensure that all employees receive training on an annual basis.
For more information, model policies and training sessions as well as a toolkit for employers, please visit NYS Combating Sexual Harassment in the Workplace.
On November 2nd, the African American Men of Westchester and the Business Council of Westchester will host its 28th Annual Brotherhood Breakfast. This will be an excellent opportunity to network with business leaders and government officials.
Our thought leadership discussion this year is STEM and the importance of having a STEM-Literate Workforce in all businesses.
I hope you will consider attending. You may register at 2018brotherhoodbreakfast.eventbrite.com
Thank you
Wiley Harrison
Breakfast Chairperson
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