Mark Twain and Payroll – Essential Payroll Series 2014

 

Have you ever read “The Notorious Jumping Frog of Calaveras County”?

The humor of Mark Twain is both simple and complex, I suppose the mark of a fantastic writer and thinker. I just completed the short story “The Notorious Jumping Frog of Calaveras County”. If you have not had time to read this humorous classic then it is worth your attention.

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Patient Protection and Affordable Care Act Large Employer Mandate – Essential Payroll Series 2014

Target Date January 1, 2015. The Patient Protection and Affordable Care Act “large employer” mandate will go into effect on this date (this was originally scheduled to go into effect January 1, 2014). What does that mean to our businesses? First it is anticipated that businesses will have until their group plan renewal date in 2015 to be in compliance, second businesses that have over 50 full time equivalents will have to provide access to qualifying coverage or pay the “shared responsibility payment”. Now is the time to begin the process of determining if we are a LARGE employer or a small employer and if we meet the 50 full time equivalent threshold.

The IRS just release a FAQ information sheet to address the issues of “shared responsibility payments” and how to determine if the company is liable regarding the number of employees. Here is a summary of some of the questions that were addressed.

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The End of Free Beer Fridays? -The Essential Payroll Series 2014

Is this the end of FREE BEER FRIDAYS! Yea, you read correctly, should free beer considered a bonus? I believe the great philosopher Homer Simpson said “you don’t buy beer, you just rent it”. So if we are only renting, is that a payroll issue? Believe it or not, it may be.

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Essential Payroll Series 2014 – Payroll Tax Deposits

Its payroll day, yeah, we have processed the employee payments and everybody is happy right? In the real world probably not, but on average most companies do a fantastic job of processing payroll. A significant number of employees receive their payments via direct deposit. But processing payroll is just half of the process. Now we must make sure the employment and federal tax deposits are made timely.

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Essential Payroll Series 2014- Interns (Paid or Unpaid)

So you want to help out the next generation, you want to provide some real world experience to an up and coming college student, and who knows, you may find your next employee. Sound familiar? Thousands of companies employ interns, but few know this is an area the Wage and Hour Division targets for payroll compliance.

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