Compliance
This page provides our valued members with the latest payroll news along with links to a variety of
resources at both the National and State Level.
If you have content suggestions, please let us know.
In Recent News
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03/21/2024 - WI becomes third state to pass an Earned Wage Access Law. Read more Here.
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03/11/2024 Effective Date - Final Rule: Employee or Independent Contractor? Read more Here.
Breaking News
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04/23/2024 - FTC Announced Rule Banning Non-competes. Read more Here.
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04/23/2024 - Effective 07/01/2024 - DOL finalizes New Overtime Rule. Read more Here.
State Updates - Recently in Effect
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Alabama - 01/01/2024 - 06/29/2025
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California - 01/01/2024
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Colorado - 01/01/2024
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Illinois - 01/01/2024
2024 Limits
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$168,600 SS Wage Limit
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$ 10,453.20 SS Tax Limit
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No Medicare Limit
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Over $200,000 Wage Limit Additional Medicare
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$8,300 Family Limit
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$4,150 Individual Limit
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$1,000 Catch Up - 55+
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FSA
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$3,200 Medical Limit
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$5,000 Dependent Limit
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$23,000
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$7,500 - Catchup -50+
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0.67¢
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Year End Reminders -
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W4 Updates
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Did your employee have a life changing event like a marriage or a new baby? If so, they should complete a new W4 form. Some states like, WI, also have a form.
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Employees can go to the IRS website & use the Tax Withholding Estimator if they are unsure what to claim.
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WI also has a Withholding Calculator
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Check your states for similar forms and calculators.
Now is a great time to start brainstorming on how to improve your next year end.
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Start a list of what worked well & what didn't.
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Include items like:
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Ensure all checks are voided
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Benefit plans/deductions updates
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Minimum wage updates
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All updated address are entered it your system
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Update your labor law posters
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Any year end adjustments
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Taxable payments like gift cards
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S-Corp
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3rd Party Sick Pay
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Additional Payroll Resources
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Helpful Links for Small Businesses -
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Click here Small Business Information
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