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.

Continue Reading

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.

Continue Reading