by briesterer@thinkvisionary.com | Dec 8, 2021 | Newsletter
The minimum wage in Illinois is set to increase another dollar on Saturday, January 1, 2022. The new wage will be $12 an hour. Governor JB Pritzker signed legislation in 2019 putting the state on the path to a $15 an hour minimum wage by 2025. There have been three...
by briesterer@thinkvisionary.com | Nov 8, 2021 | Newsletter
Do you have a tax-saving flexible spending account (FSA) with your employer to help pay for health or dependent care expenses? As the end of 2021 nears, there are some rules and reminders to keep in mind. An Account for Health Expenses A pre-tax contribution of $2,750...
by briesterer@thinkvisionary.com | Oct 5, 2021 | Newsletter
The Social Security Administration recently announced that the wage base for computing Social Security tax will increase to $147,000 for 2022 (up from $142,800 for 2021). Wages and self-employment income above this threshold aren’t subject to Social Security tax....
by briesterer@thinkvisionary.com | Oct 4, 2021 | Newsletter
This October 31st, Managing Partner Ron Austin celebrates his 25th year at the firm. We here at MMA are grateful for everything that he does and look forward to working with him for many years to...
by briesterer@thinkvisionary.com | Sep 5, 2021 | Newsletter
Many homeowners across the country have seen their home values increase recently. According to the National Association of Realtors, the median price of homes sold in July of 2021 rose 17.8% over July of 2020. The median home price was $411,200 in the Northeast,...
by briesterer@thinkvisionary.com | Aug 5, 2021 | Newsletter
In 2020, when Congress passed the CARES Act, they provided a refundable payroll tax credit for 50% of qualified wages and allocable health plan costs called the Employee Retention Credit (ERC). For 2020 the maximum credit was $5,000 per employee. Unfortunately, when...
