Category Archives: Industry News
Did You Get a Health Care Rebate?
The Affordable Care Act and Medical Loss Ratio (MLR) – The MLR generally requires that 80% or 85% of the premiums collected by insurance companies be spent on health care services and health care quality improvement rather than on overhead, … Continue reading
Top Ten Payroll Mistakes Companies Make
Found an interesting article the other day on the “Top 10 Payroll Mistakes Companies Make“. The article begins by stating that the IRS is attempting to close the tax gap. In order to discover the most common areas of employer … Continue reading
Classifying Independent Workers – Are You Doing It Correctly?
Recently, a client of ours had been audited to determine if their contract worker had been “misclassified”. This client had a contract in place with this worker that clearly outlined the structure of their working relationship. However, once out of … Continue reading
Just Another Benefit of Outsourcing Payroll…
As an employer, you are required to do many things by law. One of which includes maintaining accurate records for current and past employees for a specified period of time. These requirements are enforced by both the IRS and U.S. … Continue reading
Still waiting for your tax refund?
Have you filed your taxes, but you’re still waiting on your refund? Follow the link below to check the status of your refund. http://www.irs.gov/individuals/article/0,,id=96596,00.html?portlet=8 If you have a smartphone, you can use the IRS2go App to check the status of … Continue reading
HSA Updates for 2013
In 2013, HSA’s will increase for the first time in the past three years. The minimum deductible will increase to $2,500 for a family and $1,250 for an individual. Also in 2013, HSA’s maximum contribution will rise to $6,450 for … Continue reading
Self Check- E-Verify Employees Can Use
U.S. Citizenship and Immigration Services (USCIS) announced today that Self Check, a free online service of E-Verify that allows workers to check their own employment eligibility status, is now available in all 50 states, Washington D.C., Guam, Puerto Rico, the … Continue reading
FICA Withholding Rates 2012
Employee Withholding Rates: FICA: 4.2% Medicare: 1.45% Employer Withholding Rates: FICA: 6.2% Medicare: 1.45% Employee portion of FICA will remain at 4.2% through the end of February when it will be returned to 6.2%.
COLA Increases for Dollar Limitations on Benefits and Contributions
“The Internal Revenue Code provides for dollar limitations on benefits and contributions under qualified retirement plans. Code §415 requires the limits to be adjusted annually for cost-of-living increases. The IRS announced on October 20, 2011 cost-of-living adjustments applicable to dollar … Continue reading
Understand & Make the Most New Healthcare Laws
What if you could offer your employees’ the tax benefits of group health insurance without any of the headaches or costs? Well you can! No need to pinch yourself, you aren’t dreaming… this is REAL! It’s called the Health Care … Continue reading
