From our desk to yours
As the year is coming to a close, we have a lot to share! We’ve taken the time to gather the important details for you, from year-end payrolls to important tax updates. Get everything all in one place as we prepare for 2023!
Quick year-end Links:
Tax Prep For your Business
As we wrap up 2022, we want you to be prepared for tax season and have a smooth transition into the new year. That’s why we’ve compiled the tax prep key details in one place.
All requests for 2022 bonuses should be made by Friday, December 23. Here’s what else you need to know about paying out those bonuses, from the how-to to the details on how they’re paid.
Minimum Wage Updates
The minimum wage is changing in some states and even localities on January 1, 2023. As a reminder, when the state and federal regulations differ, you must use the one that benefits the employee the most. Plus, get the most recent tax updates.
Reminders for Admins
We’re sharing several useful reminders and important dates to help you stay organized. Included info: final 2022 payroll dates, W-2 prep, and holiday savings accounts.
Bank & Nextep Closures
We love holidays but know that business needs continue year-round, even during bank closures. To prepare, we have some key federal bank holidays and corresponding Nextep closure dates for 2023.
FSA & HSA Limits
The IRS has released 2023 limits for FSA and HSA accounts. A flexible spending account (FSA) or health savings account (HSA) allows you to deduct a set amount of pre-tax money from each paycheck to pay for certain IRS-qualified out-of-pocket health expenses. Get the details!