2021 IRA Contribution Limits

Written by Tim Taft on . Posted in News, Payroll, Retirement.

Traverse City Payroll Service is proud to provide the latest IRA contribution limits for 2021. For a complete list check out this link to the IRS website.

 

https://www.irs.gov/retirement-plans/plan-participant-employee/retirement-topics-ira-contribution-limits

 

 

Michigan Minimum Wage Increase 2020

Written by Tim Taft on . Posted in News.

Traverse City Payroll Services Announces New Michigan Minimum Wage for 2020.
Minimum Hourly Wage Rate
Employees must be paid at least:
Effective Date Minimum Hourly Wage Rate Tipped Employee 85%

Hourly Rate
Minimum Hourly Rate Reported Average Hourly Tips
January 1, 2018 $9.25 $3.52 $5.73 $7.86
March 29, 2019 $9.45 $3.59 $5.86 $8.03
January 1, 2020* $9.65 $3.67 $5.98 $8.20
January 1, 2021* $9.87 $3.75 $6.12 $8.39

For questions or additional information, call the Wage and Hour Division at 855-464-9243 or visit the agency’s website.

PayEntry: Your online Payroll Suite.

Written by dewardknapp on . Posted in News.

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