TelePay Insurance

Payroll Technology Enhancements Continue in 2017

Payroll management has modernized significantly over the past few years, thanks in part to innovations such as cloud computing, mobile devices, and new software that allows for better integrating payroll with other HR functions. More Apps Allow Payroll Access Many Apps Managers and employees today want to have access to payroll data from wherever they are—even if they're not at a computer. This has led to the creation of apps allowing both managers and employees easy access to payroll data. The ...
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TelePay Insurance

A Minor Technicality On Pay Stub Can Cost Employers Big Bucks

Today’s business can be susceptible to lawsuits, big fines, and headaches in areas they take for granted. Imagine being sued by every single one of the employees who worked for you over the past four years because your paystubs have an extra comma in your company’s name. A zip code is missing from your company’s address on your paystub. Your company’s paystub includes the pay period end date but not the beginning date. These items sound like minor errors or omissions, and...
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TelePay Insurance

The Tax Corner - May 2015

By Nancy Espinoza, Tax Manager IRS Announces 2016 HSA Limits The IRS has announced the 2016 contribution limits for high-deductible health savings account. For individuals with self-only coverage, the contribution limit will remain at $3,350. For family coverage under a high-deductible plan, the 2016 limit will increase to $6,750. For details, click here . U.S. Department of Labor Publishes List of Potential Credit Reduction States for 2015 In March 2015, the Department of Labor published the St...
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TelePay Insurance

The Tax Corner - April 2015

By Nancy Espinoza, Tax Manager Required Paperwork for Newly Hired Employees In order to stay compliant with the various government agencies, employers should be aware of necessary paperwork required when hiring new employees: Under the Immigration Reform and Control Act of 1986, all employers are required to verify the identity and the eligibility of employees to work in the United States using Form I-9. The current Form I-9 can be accessed by clicking here . For details on how to complete the f...
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TelePay Insurance

The Tax Corner - March 2015

IRS Releases Initial Guidance for High-Cost Healthcare Plans On February 24, 2015, the Internal Revenue Service released a notice which offers initial guidance on the Affordable Care Act's 40 percent excise tax on high-cost health plans. The tax will be effective in 2018 for so-called “Cadillac” healthcare plans. The IRS notice addresses the definition of applicable coverage and describes how the cost of applicable coverage is determined. Click here to view the notice.   Department of Labor...
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TelePay Insurance

The Tax Corner - January 2015

 By Nancy Espinoza, Tax Manager IRS Releases 2015 Form W-4 The IRS has released the new 2015 W-4 form.  To access the form online, click here Employees who claimed exempt for 2014 must submit a new 2015 W-4 to employers by Feb. 18 to maintain their exempt status. If an employee fails to sign a 2015 W-4 showing exempt, the employer should withhold taxes for the employee based on a single with no exemption status. IRS Raises 2015 Standard Business Mileage Rate The standard business mileage rate fo...
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