2022 Payroll Planning (Yeo & Yeo)
Business OpportunitiesDecember 2, 2021 - Yeo & Yeo
This is a thought leadership article providing an overview of important payroll updates in North America for 2022 from PrimeGlobal member firm Yeo & Yeo.
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There are two important payroll updates that will affect firms in North America:
- Updated Form 1099-NEC
- Reporting of FFCRA wages in Box 14 on W-2
The State of Michigan has not issued any statements regarding an increase in the minimum wage; Yeo & Yeo anticipate it will remain at $9.65 per hour.
Yeo & Yeo
Yeo & Yeo is a top 200 full-service assurance, tax and advisory firm with a reputation for personal service, commitment to clients and community support. Founded in 1923, Yeo & Yeo has grown to include more than 200 trusted professionals who have been successfully advising Michigan businesses. Through our four companies – Yeo & Yeo CPAs & Business Consultants, Yeo & Yeo Computer Consulting, Yeo & Yeo Medical Billing & Consulting and Yeo & Yeo Wealth Management – we have created a strong network of professionals with the expertise to solve complex problems in each industry we serve.Learn more