Pam Ferree

DOL’s new overtime ruling for exempt employees will go into effect July 1. Accountants, attend this CPE webinar to learn the details you need to know to ensure you & your clients remain compliant. Register now

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DOL’s new overtime ruling for exempt employees will go into effect July 1. Accountants, attend this CPE webinar to learn the details you need to know to ensure you & your clients remain compliant. Register now

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Tax Planning History: The Revenue Act of 1916 began the practice of adjusting tax rates and income scales. The original income tax was 1% for the bottom bracket, which was comprised of income up to $20,000, and 7% for the top bracket, which was comprised of income over $500,000.

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😲 A shocking reality in our labor market has recently been unveiled. Over the past several years, a series of operators from labor staffing companies in Key West, including PSEB Services Inc., E.S.F. Services Inc. and Expert Services F.S. Inc., have been sentenced to prison for tax and immigration-related crimes. The main culprits were found to be facilitating employment for non-resident aliens not authorized to work in the U.S. In addition to not withholding federal income taxes, Social Security, and Medicare taxes, they also failed to report the wages to the IRS. The consequences have been severe, with Zdenek Strnad, Vasil Khatiashvili, and Petr Sutka sentenced to several years in prison and ordered to pay millions of dollars in restitution to the United States. Unfortunately, this is not the first instance of such illegal activities in the region. In July 2023, the operators of several other labor staffing companies faced similar charges and penalties. The gravity of the situation highlights the critical need for businesses to be vigilant and compliant with labor laws, tax regulations, and immigration policies. Not only are these fraudulent actions undermining the system and our economy, but they also take a toll on the workers who are exploited in the process. https://lnkd.in/dQQNFui3

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The trick with budgeting is to find a strategy that works for you. Zero-based budgeting is one popular strategy that assigns a specific purpose to every dollar you earn and is a strategy that offers an easy way to save.

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The trick with budgeting is to find a strategy that works for you. Zero-based budgeting is one popular strategy that assigns a specific purpose to every dollar you earn and is a strategy that offers an easy way to save.

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Have questions about how much life insurance you need? Learn how working with a professional like me can help.

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Many retired Americans are returning to the work force, fearing they will run out of money in retirement. Let’s talk through your situation and see if an annuity can help you secure guaranteed retirement income for life.

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Heads up! The IRS is expanding its free Direct File program in 2025. This program allows eligible taxpayers to file their federal tax returns electronically for free. Filing electronically is secure, convenient, and can potentially speed up your refund process. Learn more in this article!

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The table shown below is the inflation adjusted limits for High Deductible Health Plans and Health Savings Accounts for 2025 set forth by the IRS. Throughout my 15 years of meeting with business owners and HR professionals you would be surprised how many companies are attached to a a fully insured health plan and do not even offer a high deductible plan option to employees. Action Steps: Employers sponsoring HDHPs should review their plan’s cost-sharing limits (i.e., the minimum deductible amount and maximum out-of-pocket expense limit) when preparing for the plan year beginning in 2025. Also, employers allowing employees to make pre-tax HSA contributions should update their plan communications with the increased contribution limits.

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