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The Risks of 1099 Contractors
“A 1099 is happy being a 1099 until the moment they’re not. And the moment they’re not, the burden of proof is on the business owner to prove that they should truly be a 1099.” - Rob Campbell, E-COMP’s vice president of HR compliance, learning, and development in a...
The Risks of 1099 Contractors
“A 1099 is happy being a 1099 until the moment they’re not. And the moment they’re not, the burden of proof is on the business owner to prove that they should truly be a 1099.” - Rob Campbell, E-COMP’s vice president of HR compliance, learning, and development in a...
TRENDING
3 Ways To Reduce Workers’ Comp Expenses
Workers’ compensation claims can be incredibly expensive for insurers. At the top end of the spectrum, an amputation can cost an average of $126,033. Even a fracture or dislocation can add up to $62,240. When your workers’ comp claims increase, the insurer passes on...
IRS Extends Filing And Payment Deadlines due to Hurricane Sandy
The Internal Revenue Service has extended until February 1, 2013 the deadlines for most income tax returns, income tax payments and other time-sensitive actions otherwise due from the time of the storm through the end of January 2013 for taxpayers affected by...
State Exchange Update
Under the federal Patient Protection and Affordable Care Act (PPACA), the deadline for states committed to setting up a State-Based Exchange for submission of an “exchange blueprint” to the federal government was December 14, 2012. The deadline for states planning to...
HRAs are Impacted by the Affordable Care Act
On January 24, 2013, the Department of Labor released a document containing guidance about the implementation of the Affordable Care Act. Formatted as a series of frequently asked questions, the document included items relating to Health Reimbursement...
The 2012 W-2 Form: Most Commonly Asked Questions and Their Answers
W-2s are now in most employees’ hands and the questions are beginning! We thought it would be helpful to give you a handy reference with simple answers of what we have found to be the most commonly asked questions about the W-2. Remember: this is an...
Unemployment Claims – What’s the Process?
The labor market fluctuates, and for a multitude of possible reasons, we have turnover. Most all employers will have to deal with employment separation at some point. In general, an employee is eligible for unemployment benefits if he/she; 1) worked for an...
Health Premiums and the W-2
Lately, there has been lots of discussion and confusion about the rules surrounding employer-sponsored health premiums and the W-2 (a new requirement stemming from The Affordable Care Act). Let’s break it down to the most commonly misunderstood elements of the law as...
New Year’s Tips from Your Human Resources Professionals
The beginning of a new year is a great time to internally audit some of your HR-related practices. The following are a few tips to get you started:Employee Handbook – It is not a bad idea to have an HR Professional review your handbook annually for compliance issues....
$2,500 Limit on Health FSA Annual Pre-Tax Contribution
Effective January 1, 2013, employee pre-tax contributions to Health Flexible Spending Accounts (FSAs) will be limited to $2,500 per calendar year. For subsequent years, this amount will be indexed to the Consumer Price Index (CPI). Employers with non-calendar year...
W-2 Report for 2012
The W-2 Form for 2012 reporting must provide tax information from January 1, 2012 – December 31, 2012. The actual form must be distributed to employees by January 31st, 2013. In addition, employers issuing 250 or more W-2 forms must include the cost of health coverage...
OASDI Tax Rates
The Social Security's Old-Age, Survivors and Disability Insurance (OASDI) program limits the amount of earnings subject to taxation within a given year. This limit is updated each year with changes in the national average wage index. For earnings in 2013, the Social...
IRS Standard Mileage Rates for 2013
The Internal Revenue Service issued the 2013 optional standard mileage rates used to calculate the deductible costs of operating an automobile for business, charitable, medical or moving purposes. Effective January 1, 2013, the standard mileage rates for the use of a...
IRS Extends Filing And Payment Deadlines
The Internal Revenue Service (IRS) has extended until February 1, 2013 the deadlines for most income tax returns, income tax payments and other time-sensitive actions for taxpayers affected by Hurricane Sandy in federally declared disaster areas in Connecticut, New...
Additional Medicare Tax
Effective January 1, 2013, an additional Medicare tax will impact employers and payroll service providers. The Patient Protection and Affordable Care Act (PPACA) increases the Medicare tax rate on wages by 0.9% (from the current rate of 1.45% to 2.35%) for...
What is the FUTA Credit Reduction…and Does It Apply to Me?
Depending on the states in which you do business, you may have received an unhappy surprise at the end of December. It’s possible you will have to pay an additional amount of Federal Unemployment taxes for 2012 if your state was unable to pay all the...
American Payroll Association (APA) Compliance Update
Payroll in 2013 – Higher Social Security Tax Rate; New Withholding Tables -- On January 2, 2013, President Barack Obama signed into law the American Taxpayer Relief Act of 2012 (ATRA 2012; H.R. 8). The new law permanently fixes income tax rates at the levels...
HRA or HSA? – Part 3
In HRA or HSA?– Part 1 and HRA or HSA? – Part 2, we took a look at the basic components of the HSA and HRA. This time, let’s weigh the pros and cons of each benefit and decide which is best for your company. First, let’s list what they have in common. ...
Employee Wellness – For Businesses Large and Small
Wellness Programs aren't just for the 500+ employee companies anymore. Regardless of the size of your staff, an employee’s health and well-being impacts your organization’s productivity and bottom line. Let’s take a look at some of the...
Year-End Payroll Reminders – If You Process Your Own Payroll
Year-end has many challenges for those of us responsible for payroll in our companies; however, if you process your payroll in-house, your to-do list is even longer. In this post, we’ll discuss the tasks you’ll need to do in order to be ready when you get to...
HRA or HSA? – Part 2
In HRA or HSA? – Part 1 we discussed the HSA and how it works with a high-deductible health plan. In this post, we’ll take a look at health reimbursement arrangements (HRA) and how they can help your employees. Unlike the HSA, a high-deductible health plan...
Year-End Payroll Reminders – What Needs to Be Added to the W-2?
W-2 federal wages and withholding…check. W-2 social security and Medicare wages and withholding…check. W-2 state wages and withholding…check. W-2 boxes 12, 13, and 14…huh? Feel like you need a decoder ring to understand the codes for box 12 and box 14 on the W-2?...
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