Information for Year-end and New Year

Season's Greetings!
As the end of one year and the beginning of another rapidly approaches, there are a few things I would like to mention.

• If you have employees, it is a good time to ask them to be sure their address is current and their name and social security number is correct. A new W4 is not required each year, but if you need or want new 2011 W4 forms they are usually available by Jan 1st at www.irs.gov.
  

• I am recommending that you begin collecting W9's from everyone you make payments to (except employees) beginning Jan 1st 2011. As it stands, you will be required to provide payees and the IRS with 1099 forms for payments made during 2011, so it is important that this information be collected up front before making payments. The W9 forms are also available at www.irs.gov.

• If there are any changes or improvements you would like to see in the services I provide to you, please let me know! New options have become available, and I always welcome new ideas!

• Florida State Unemployment Rates - As expected, the minimum state unemployment rate will be raised in 2011 from .0036 ($25.20 per employee on $7000) to .0103 ($72.10 per employee on $7000). The maximum rate remains at .054 ($378.00 per employee on $7000). You should be receiving a form showing your new rate soon - please send a copy for my information. In addition, there will be a Special Interest Assessment to cover the interest on the funds borrowed from the federal government to cover benefit payments. You should receive a notice by early February explaining the calculation of the special interest assessment, with a coupon for the business to pay its share of the interest on the federal advances. Please send a copy of this to me as well. If you would like more information, goto www.myflorida.com/dor and follow the link.

That is all for now. I wish everyone Happy Holidays and a Happy New Year!