Minimum wage rates and payroll tax thresholds are set to increase in many states, impacting employers nationwide.
Increased wages mean higher payroll expenses, while tax adjustments could affect deductions and contributions for employees.
Update your payroll systems, budgets, and contracts to reflect new wage requirements and tax thresholds for 2025.
Ensure accurate withholding for Social Security, Medicare, and state taxes based on new 2025 rates to avoid penalties.
Jarrar & Associates CPA offers expert support to manage payroll changes and stay compliant. Contact us today!