Beware the new 'trap' in the mail with the heading 'Annual Minutes Requirement Statement - Directors and Shareholders'
While the facts are true about holding annual meetings and keeping minutes being required, if you continue to read, the final sentence says 'This product has not been approved or endorsed by any government agency and this offer is not being made by an agency of the government.'
In other words, even though the form looks very official, and the laws are real, you are not required to fill out the form or to send your $125.00 to Compliance Services, as they have nothing to do with any government agency.
That's my tip for the day!
Wednesday, March 2, 2011
Thursday, February 10, 2011
Labor Law Posters
You may be receiving 'pitches' from various sources concerning Labor Law posters that your business is required to post, advising you to purchase products to comply with the laws (esp Florida).
While there is nothing wrong with purchasing these products, I want to let everyone know that you are not required to purchase them, and I believe all required posters are available free of charge from various government agencies.
I found the following link http://www.floridajobs.org/workforce/posters.html which I think would be helpful, and near the top of the page, there is a link to ' eLaws poster advisor " which asks a series of questions about your business, and give a list of what posters you are required to post, with information on how and where to get them.
I would like to hear your thoughts and experiences with this site. Thanks!
While there is nothing wrong with purchasing these products, I want to let everyone know that you are not required to purchase them, and I believe all required posters are available free of charge from various government agencies.
I found the following link http://www.floridajobs.org/workforce/posters.html which I think would be helpful, and near the top of the page, there is a link to ' eLaws poster advisor " which asks a series of questions about your business, and give a list of what posters you are required to post, with information on how and where to get them.
I would like to hear your thoughts and experiences with this site. Thanks!
Thursday, January 27, 2011
Training Grants and Withholding Calculator
A couple of items of interest from the latest General Ledger published by AIPB (www.aipb.org).
National Emergency Grants (NEGs) - Covers 50-90% of the hourly/salaried rate for on-the-job training if the new hire is a "dislocated worker" for firms of up to 50 employees. "Dislocated" includes those laid off or notified they will be; those eligible for UI or who have exhausted their UI benefits; self-employed with no work due to economic factors or a natural disaster -- even displaced homemakers no longer supported by another family member. There are several different kinds of NEGs. Details at www.doleta.gov/neg/.
Registered apprenticeships. Tax benefits and work force grants cover up to 75% of eligible wages for firms of up to 100 employees for combined on-the-job training and apprenticeships for 1,100+ occupations. Benefits vary by state. For details, contact your Regional Office of Apprenticeship (OA) at www.doleta.gov/oa/regdirlist.cfm or get in touch with your state apprenticeship agencies at www.doleta.gov/oa/stateagencies.cfm.
Workforce Investment Act Funding offers per diem subsidies for combined on-the-job training and classroom education while the new hire collects UI payments. Details at the url tinyurl.com/yfhzjje (ignore the warning signals when you put this url in the browser; this is a perfectly safe page.)
Also:
When employees ask about how to complete their W-4's for 2011, you can direct them to www.irs.gov. Once there, type 'calculator', click Withholding Calculator. On a series of simple screens, they will be asked to check various boxes and will then know how to complete their W-4. It would be doubly helpful, it appears, for employees with more than one job and would provide the best way to complete the W-4 for each.
National Emergency Grants (NEGs) - Covers 50-90% of the hourly/salaried rate for on-the-job training if the new hire is a "dislocated worker" for firms of up to 50 employees. "Dislocated" includes those laid off or notified they will be; those eligible for UI or who have exhausted their UI benefits; self-employed with no work due to economic factors or a natural disaster -- even displaced homemakers no longer supported by another family member. There are several different kinds of NEGs. Details at www.doleta.gov/neg/.
Registered apprenticeships. Tax benefits and work force grants cover up to 75% of eligible wages for firms of up to 100 employees for combined on-the-job training and apprenticeships for 1,100+ occupations. Benefits vary by state. For details, contact your Regional Office of Apprenticeship (OA) at www.doleta.gov/oa/regdirlist.cfm or get in touch with your state apprenticeship agencies at www.doleta.gov/oa/stateagencies.cfm.
Workforce Investment Act Funding offers per diem subsidies for combined on-the-job training and classroom education while the new hire collects UI payments. Details at the url tinyurl.com/yfhzjje (ignore the warning signals when you put this url in the browser; this is a perfectly safe page.)
Also:
When employees ask about how to complete their W-4's for 2011, you can direct them to www.irs.gov. Once there, type 'calculator', click Withholding Calculator. On a series of simple screens, they will be asked to check various boxes and will then know how to complete their W-4. It would be doubly helpful, it appears, for employees with more than one job and would provide the best way to complete the W-4 for each.
Tuesday, January 11, 2011
1099 Changes in 2012 - Article
I found this article re changes to 1099 Reporting scheduled for 2012 interesting and wanted to share. I know there are lots of questions. I hope you enjoy it. http://money.cnn.com/2010/05/05/smallbusiness/1099_health_care_tax_change/
Tuesday, January 4, 2011
Publication 15 (Circular E) Employer Tax Guide, Federal Withholding
Publication 15 (Circular E) Employer Tax Guide is now available at www.irs.gov.
I would also like to share the fact that of the payrolls I have run so far for 2011, some employees net pay increases from last year, while others decrease. It seems federal tax withholding for many has increased this year. So, even though everyone gets the two percent reduction in their social security deduction, not all will have a bigger paycheck - some will be smaller this year.
I would also like to share the fact that of the payrolls I have run so far for 2011, some employees net pay increases from last year, while others decrease. It seems federal tax withholding for many has increased this year. So, even though everyone gets the two percent reduction in their social security deduction, not all will have a bigger paycheck - some will be smaller this year.
Monday, January 3, 2011
Wednesday, December 29, 2010
Payroll Changes Update
There is additional important information to pass along re Payroll 2011.
- Intuit has released Payroll Update 21102, which includes the federal withholding tables for 2011 and reflects the Tax Relief Act of 2010. If you have automatic updates turned on, you should receive this update automatically. You can download it at any time, even if you have more payroll to process for 2010 - it will select the correct table according to your paycheck date. It is important to be sure you have this release before processing 2011 payroll, as it contains the changes to the social security rate for employees deductions.
- Because of this change in social security rate for Employee's deductions to 4.2%, the Employer/Employee rates are no longer a 'Match' as they always have been since the Employer portion remains at 6.2%. If you have any formulas or procedures that calculate your payroll tax liability by doubling either of these figures, they will no longer be correct.
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