Earlier this year, The Department of Labor announced a Final Rule on overtime pay. Hopefully, you’ve had time to prepare for implementation, which occurs December 1, 2016. Here are some key provisions of the Final Rule: All workers earning up to $913 per week, or $47,476 annually for a full-year worker, must be paid at…
Section 415 of the Tax Code, which limits the allowable contribution amounts to retirement plans, is reviewed every year and cost-of-living adjustments are made. The IRS has determined that beginning in 2017, some of these limits will go up. The following contribution amounts will remain the same, at $18,000 per year: 401(k) plans 403(b) plans…
Are your top performers satisfied at your business? Hopefully you have an open dialog with your employees, and you have an idea of how they’re feeling about their jobs. However, there are some things that signal an employee’s impending departure. A recent article from The Creative Group looks at these signs. Here are some things…
Don’t worry, this isn’t another political post! As you know, election 2016 is imminent. Did you also know that in some states, employers have legal responsibilities on voting day? Attorney Richard Alaniz advises employers to familiarize themselves with their legal obligations and plan ahead. “With the election looming, companies that are required to offer time…
The IRS has announced a new deadline for W-2 and 1099 filings. It is important to plan now, as the deadline has been moved up. From CPA Practice Advisor: “Historically, filers were required to provide W-2 and 1099-MISC forms to recipients by January 31; however, they were not required to submit the forms to the…
The U.S. Equal Employment Opportunity Commission (EEOC) announced that some employers will be required to submit data regarding employees’ pay, beginning March 31, 2018. Smaller businesses may not be affected by these new requirements, as they are generally for employers with 50 or more employees. “Collecting pay data is a significant step forward in addressing…
Employers are fighting harder, and offering more perks, to land the best employees. Do you give workers the flexibility they’re looking for? You’ve probably read about the changes in business and virtual workplace. With many industries facing labor shortages, employers have gotten creative with perks and benefits. Ping pong tables, yoga classes, fancy snacks and…
Employers of workers facing significant barriers to employment are urged to apply for the Work Opportunity Tax Credit (WOTC) enacted by the Protecting Americans from Tax Hikes (PATH) Act. The deadline to request certification has been extended to September 28, 2016 and applies to workers hired between January 1, 2015 and August 31, 2016….
A new study examined finance executives’ current views on retirement and benefits issues. Read some of the highlights from this new research. The comprehensive new study evaluates finance executives’ outlooks on a number of topics regarding defined benefit retirement programs. Overwhelmingly, they believe their ability to manage benefit risks and costs is essential to their…
There’s no such thing as a perfect employee. Everyone has something to contribute, and hopefully you have a solid team of dedicated professionals you can count on. However, all employees have areas they could improve. As the leader of your team, what is your approach? Do you focus more on developing their strengths or helping…
