Ohio Minimum Wage Increase
Ohio’s minimum wage has been increased from $7.70 to $7.85 for the hourly workers of most Ohio employers. Tipped employees must be paid at least $3.93. The new wage is effective Jan 1, 2013. The post...
View ArticleTax Holiday Ends
Just as the winter holiday season was ending, so was the federal social security payroll tax holiday. Employees will see a 2% reduction in their net pay beginning Jan 1, 2013 as the social security tax...
View ArticleNew Plan Limits for 2013
Contribution limits to certain retirement plans have been raised slightly for 2013. Plans under Sections 401(k) and 403(b)are limited to $17,500 ($16,500 in 2012) SIMPLE plans are limited to $12,000...
View ArticleHealth Savings Accounts, Flexible or Otherwise.
Some changes for 2013. Deferrals made to Flexible Spending Accounts (FSAs) are limited to $2,500 (down from $3,000 or more in 2012) for an individual. Spouses may each contribute $2,500 for a family...
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