Get Ready Because Here It Comes… Year End!
December will be here before you know it. How prepared are you to finish out the year? Remembering items like auto fringes, bonus payrolls, address changes and third party sick pay are things to start working on now.
In preparation for closing out the year with your payroll data, we have prepared a general checklist to assist you in the planning:
Tracking and calculation of employee fringe benefits during the year can be difficult. If you need assistance on various fringe benefits like employer Education or Adoption Assistance, Qualified Parking or Transportation benefits, DeMinimus Fringes, Personal Use Auto, employer provided Group Term Life insurance, etc. Refer to the IRS Publication 15-B at irs.gov/publications/p15b/ix01.html.
After President Obama signed the healthcare bill into law, certain changes to taxes on the types of health insurances businesses can provide to their employees have occurred.
In 2012 Employers should begin tracking the value of health care benefits for employees. The annual value must be recorded on employee W2 statements. Deluxe Payroll can assist you with the annual value recorded per each employee at year end or by tracking the per pay value for each employee receiving healthcare benefits provided by the employer. Start your tracking January 1, 2012 so that your employee W2s will accurately reflect correct annual values at year end 2012. Call your Customer Service Representative today to discuss your preferred tracking method.
On August 25, 2011 the National Labor Relations Board (NLRB) issued a final rule requiring nearly all private-sector employers (with a few exceptions such as religious organizations, family operations and farmers) to notify employees of their rights under the National Labor Relations Act (NLRA) by posting a notice. The posting deadline is January 31, 2012 or an employer may be subject to unfair labor charges by the NLRB and its General Counsel. The notice of rights will be provided at no charge by NLRB regional offices or can be downloaded from the NLRB website. If you wish to purchase the poster, please login to our website at deluxe-payroll.com under HR Solutions/Poster Compliance. For more detailed information on the required posting please visit the National Relations Board.
Deluxe Payroll will be launching our new internet-based payroll product, MyPaycenter, starting in 2012. With MyPaycenter you will have the ability to enter your payroll online, create custom reports, track additional HR data, provide employees online access to paystubs, and more. To view a quick tour of MyPaycenter: go to deluxe-payroll.com click the MyPaycenter icon at the top, then click ‘Take the Tour’.