The Payroll Factory, Inc. November 2021 Newsletter
Congratulations on making it thru the October 15th
deadline. Between now and end of year,
the focus is on tax planning, CPE seminars (in person/virtual) and vacation
time.
A few weeks ago, the Social Security Administration
announced that the 2022 wage base limit will go up from $142,800 to
$147,000. Thus, the total amount of
Social Security tax equating to the $147,000 will be $9,144.00.
In late September, the US Department of Labor strengthened
existing regulations concerning tipped employees. The rules take effect on November 23rd,
2021 and under the Fair Labor Standards Act prohibits employers from retaining
tips and from allowing managers or supervisors to participate in tip
pools. Any violation will be subject to
civil penalties up to $1100.00 per violation plus back wages owed.
The Payroll Factory will be on the road in November as a
vendor at the Bucks Mont, Tri County and Lehigh Valley chapters of the
Pennsylvania Society of Tax and Accounting Professionals (PSTAP). If you are planning to attend those seminars,
please stop by our table to say hello.
As always “whatever it takes,” I look forward to working
with you, your associates and above all your clients. Thank you very much.
Sincerely,
Steve Sabel
Senior Account Relationship Manager
The Payroll Factory, inc.
18 East Lancaster Avenue
Malvern, Pennsylvania 19355
(267)-907-4179 cell
steve@prfusa.com
www.thepayrollfactory.com
