Monday May 28th, 2012 is Memorial Day and a banking holiday. See the chart below for how it will affect your payroll. Be sure to contact your payroll processor to make them aware of this change. Paychecks Dated Send Payroll Info by Account will be debited Employees will get paid Friday 5/25 Wednesday 5/23 Thursday [...]
2012 President’s Day – Bank Holiday
This year President’s Day falls on Monday February 20th. Keep in mind this holiday is observed by the banks and therefore will be closed Monday. For companies that have a payday that falls on Monday February 20th, make sure you talk to you payroll processor about moving your payday up. Payrolls can be moved up [...]
State Unemployement Insurance Rate Notices
State Unemployment Insurance Rate Notices Recently we have gotten many questions regarding State Unemployment Insurance (SUI) Rate Notices. Typically between mid-December and the beginning of the calendar year, state agencies are sending out SUI notices via mail. This notice gives the exact rate to use in either Quickbooks payroll, Intuit payroll or any other payroll [...]
Minimum Wage Increase – January 2012
MINIMUM WAGE INCREASE IN FLORIDA Starting January 1, 2012 minimum wage for all Florida employees will increase from $7.31 an hour to $7.67 an hour. All employers must make this change according to the Fair Labor Standards Act. Any employees that earn wages on a “tipped basis” also get an increase of their hourly [...]
Unemployment Compensation Tax Rate Notice from Department of Revenue
Do you own a business? Do you run payroll? Do you pay employees? If you answered yes to any of those questions, you need to know about the following information. The Florida Department of Revenue is mailing out Unemployment Compensation Tax Rate Notices to all businesses that pay employees. This notice is to make you [...]
Quickbooks Thanksgiving Payroll Schedule
2011 Thanksgiving Holiday Payroll Schedule Paychecks Dated… Payroll Must be Submitted by 5:00 on… Account will be Debited on… Direct Deposit Employees will be paid on… Wednesday 11/23 Monday 11/21 Tuesday 11/22 Wednesday 11/23 Friday 11/25 Tuesday 11/22 Wednesday 11/23 Friday 11/25 Monday 11/28 Wednesday 11/23 Friday 11/25 Monday 11/28 Check in [...]
2012 HSA Contribution Limits
The contribution limits for Health Savings Accounts (HSA) have been announced for the 2012 year. For the new year, HSA limits have been increased approximately 1.63% based on inflation. In 2012, you will be allowed to contribute $3,100 if you are single and $6,250 for families. This has increased $50 if you are single and [...]
Payroll Tax Depositing Schedule
Payroll Tax Depositing Schedule There are two possible deposit schedules a company could fall into; a monthly depositor or a semi-weekly depositor. How to determine which kind of depositor you are? It is based on the amount of taxes within a 4 quarter lookback period. For each year the lookback period is the second [...]
How will Presidents Day affect my direct deposit?
Presidents Day this year falls on Monday, February 21. As is usually the case, President’s Day is a bank holiday, so you may need to process your payroll a little differently than usual to make sure that your employees’ paychecks are direct deposited by their regular pay date. If you are one of our online [...]
IRS Audit Focus Shifts to Employer Taxes
The IRS has established the Employment Tax National Research Program. This IRS Program is the first comprehensive employment tax compliance study conducted in over 25 years. The study will focus on small business and self employed taxpayers. The study’s data source will be the results of approximately six thousand employment audits. These audits will be conducted [...]
