LMC - Resources

January 5, 2022 | News

IRS Announces 2022 Limits for Retirement Plans

The IRS has announced the new retirement plan numbers for 2022. Retirement limits for 401(k) and similar plans are up. The contribution limit for employees who participate in 401(k), 403(b), most 457…

January 5, 2022 | News

Payroll Tax Rates and Contribution Limits for 2022

Below are federal payroll tax rates and benefits contribution limits for 2022. Social Security tax In 2022, the Social Security tax rate is 6.2% for employers and employees, unchanged from 2021. The…

January 5, 2022 | News

Are Your Employees Really Employees?

Do you have employees or independent contractors? It's not always an easy question to answer, but the IRS insists you get it right, because there's a huge difference in how you should…

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