Payroll News
Whether you’re a home-based business, small business or a large corporation, networked printers can solve a lot of issues in your office areas. These issues include the most commonly considered topic – money. But networked printers can save you a lot more than that. Let’s look at the more than money items first.
When a dedicated printer is connected to each desktop computer, there is always the tangled mess that results from wires, wires and more wires. The spaghetti effect is the result. When moving or replacing a piece of equipment, it can be a very time-consuming process just untangling the cords. A networked printer helps eliminate that – and eliminates the frustration that goes along with it!
The portability and convenience of laptop computers is virtually removed when it’s necessary to be connected to a dedicated printer. Each time you take your laptop with you, it’s constantly being plugged and unplugged when you’re coming and going. Rather than going through that process each day, it’s much easier to just turn it on and click “print,” no matter where you are in the building.
Space, or lack of it, is especially important in cubicles, small or home-based offices. Having a networked printer frees up the space all of the dedicated printers used to consume. This free space can give some breathing room in a small area, or free up usable space for other equipment.
Productivity is another benefit of a networked printer (assuming you’ll have two). When one of the printers goes down, it’s easy to just switch to the other networked printer. Consider the alternative. If each personal computer has a dedicated printer, and a printer isn’t working, that specific user has lost their printing capability.
Teresa Ray, owner of The Payroll Department, is pleased with the benefits her payroll service company has realized. Her two main reasons for networking printers were efficiency and money. “I don’t have to leave my office and deliver a document; I just send it to the centrally-located printer.” The alternative, and previous process, was she would print a document to her dedicated printer, then have to walk it to the other side of the building to hand it to the employee. With the reversed situation, when an employee needs to send a document to Mrs. Ray, it’s printed to the networked printer in her office. Document delivered! This has created a great amount of efficiency in her office.
It’s evident how the equipment and maintenance costs at The Payroll Department have decreased. “We’ve reduced the number of printers we own, which has been very important considering the current economy” Ray stated. “When we upgrade to a newer model, we aren’t replacing six printers, we’re only replacing two. Plus, it’s much less costly to pay for maintenance agreements on just two printers instead of a fleet of them,” she explained.
Whether you’re looking to realize a benefit of time, convenience, efficiency, money – or all five – networked printers will serve that purpose. And when you’re ready to purchase your next printer, these printer reviews will help you make the right decision.
President Obama signed the Hiring Incentives to Restore Employment (HIRE) Act (aka Jobs Bill) into law on Thursday, March 18, 2010. The HIRE Act is focused on accelerating the hiring of unemployed workers. This means if you hire unemployed workers this year (after February 3, 2010 and through December 31, 2010) you may qualify for an immediate 6.2% payroll tax incentive, in effect exempting you from your share of Social Security taxes on wages paid to these workers after March 18, 2010 (through December 31, 2010). To Receive Your Immediate 6.2% Social Security Exemption Credit (Payroll Tax Incentive)
1. Let us know which of your new hires is eligible for the Social Security Exemption credit. An employee is eligible if he/she:
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- Begins employment between February 3, 2010 and December 31, 2010. Additionally, only the wages earned with a check date of March 19, 2010 to December 31, 2010 are eligible for the credit.
- Has not been employed for more than 40 hours during the previous 60 days. The individual must sign an affidavit (Form W-11) attesting to the employer this fact.
- Is not hired to replace another employee unless the previous employee was separated from employment voluntarily or for cause. Additional restrictions may apply for seasonal employment. Details can be found at www.IRS.gov.
2. The Payroll Department, Inc. calculates the Social Security Exemption credit and adjusts your 941 payment. You will see the detail of the credit calculation on the Payroll Journal that will be provided with every payroll processed.
If you have eligible employees who were hired after February 3, 2010 AND received wages with a check date March 19, 2010 to March 31, 2010 please contact your payroll specialist. The Payroll Department, Inc. will process an adjustment payroll run to apply your Social Security Exemption credit.
The Payroll Department, Inc. will be closed the following days in 2010:
New Years Day - January 1, 2010*
Memorial Day - May 31, 2010*
Independence Day - July 5, 2010*
Labor Day - September 6, 2010*
Thanksgiving Day - November 25, 2010*
Day after Thanksgiving - November 26, 2010
Christmas Eve - December 24, 2010
New Years Eve - December 31, 2010
* Banking Holiday-banks will be closed
Additional banking holidays in 2010:
Martin Luther King, Jr. Day - January 18, 2010
President’s Day - February 15, 2010
Columbus Day - October 11, 2010
Veteran’s Day - November 11, 2010
Indiana businesses will not receive their typical tax rate notice from the Department of Workforce Development this month. DWD plans to delay the tax notice until March 30, 2010 due to a proposal before the General Assembly to delay for one year the higher tax rates and taxable wage base that are currently scheduled to take effect in January 2010.
Historically, the Department mails every Indiana business in the 4th quarter a notice containing its tax rate for the following year. This year, due to the proposed delay which has initial bi-partisan support, DWD plans to mail a letter in December explaining the delayed official tax notice and the employers’ estimated 2010 tax rate under current law, in case the measure to delay fails to pass the General Assembly.
Lawmakers passed the higher tax rates as part of 2009 legislation to help balance the insolvent unemployment insurance trust fund. The trust fund became insolvent, due to a structural imbalance that allowed it to pay out more in benefits to unemployed Hoosiers than it collected in taxes from employers. Indiana is presently borrowing from the federal government to pay unemployment insurance along with 24 other states. The loan is interest-free and the state is not required to make payments at this time.
When announcing the proposal to delay the tax increase, lawmakers said they hope the delay will give the economy additional time to recover. Lawmakers also want additional time to see what the federal government intends to do to assist states struggling with an overwhelmed unemployment system.
This delay may affect you at the end of first quarter, 2010 when the new tax rates are finally issued. When we receive your new SUTA tax rate, any adjustments that need to be made will be made when the first quarter is completed. The adjustment could cause an overage on your account or additional funds may be due.
We apologize for the inconvenience but this one is out of our control. Please don’t hesitate to contact us with any questions or concerns.
Beginning Jan. 1, 2010 the standard mileage rates are:
- 50 cents per mile for business miles
- 16.5 cents per mile for medical or moving purposes
- 14 cents per mile in service of charitable organizations
For more information on this topic, visit IRS.gov website
There is a new Federal required poster. The Genetic Information Nondiscrimination Act (GINA) of 2008, was signed into law and will go into effect on November 21, 2009. All employers with 1+ employees are required to post in a central location informing covered individuals of their rights under the law. Please go to the website, below:
http://www.eeoc.gov/employers/upload/eeoc_self_print_poster.pdf
This Act is intended to prevent employers from discriminating against individuals based on genetic tests and information. The Equal Employment Opportunity Commission (EEOC) “The Law” poster has just been updated to include information about this new Act. Please post before November 21, 2009 to maintain compliance with this Federal law.
If you have any questions, feel free to contact us
WARNING: 2010 Census - Cautions from the Better Business Bureau
With the U.S. Census process beginning, the Better Business Bureau (BBB) advises people to be cooperative, but cautious, so as not to become a victim of fraud or identity theft. The first phase of the 2010 U.S.
Census is under way as workers have begun verifying the addresses of households across the country. Eventually, more than 140,000 U.S. Census workers will count every person in the United States and will gather information about every person living at each address including name, age, gender, race, and other relevant data.
The big question is - how do you tell the difference between a U.S. Census worker and a con artist? BBB offers the following advice:
** If a U.S. Census worker knocks on your door, they will have a badge, a handheld device, a Census Bureau canvas bag, and a confidentiality notice. Ask to see their identification and their badge before answering their questions. However, you should never invite anyone you don’t know into your home.
** Census workers are currently only knocking on doors to verify address information. Do not give your Social Security number, credit card or banking information to anyone, even if they claim they need it for the U.S. Census.
REMEMBER, NO MATTER WHAT THEY ASK, YOU REALLY ONLY NEED TO TELL THEM HOW MANY PEOPLE LIVE AT YOUR ADDRESS.
While the Census Bureau might ask for basic financial information, such as a salary range, YOU DON’T HAVE TO ANSWER ANYTHING AT ALL ABOUT YOUR FINANCIAL SITUATION. The Census Bureau will not ask for Social Security, bank account, or credit card numbers, nor will employees solicit donations. Any one asking for that information is NOT with the Census Bureau.
AND REMEMBER, THE CENSUS BUREAU HAS DECIDED NOT TO WORK WITH ACORN ON GATHERING THIS INFORMATION.. No Acorn worker should approach you saying he/she is with the Census Bureau.
Eventually, Census workers may contact you by telephone, mail, or in person at home. However, the Census Bureau will not contact you by Email, so be on the lookout for Email scams impersonating the Census.
Never click on a link or open any attachments in an Email that are supposedly from the U.S. Census Bureau.
For more advice on avoiding identity theft and fraud, visit www.bbb.org
PLEASE SHARE THIS INFO WITH FAMILY AND FRIENDS.
How to Choose the Right Company to Handle Your Payroll
Everyone likes getting paid, but doing payroll can be a headache, especially for small-business owners with growing companies and an ever-expanding staff. Not only does processing payroll internally require first-class computer software or manual accounting system, it also requires you to stay on top of changes in personnel, deadlines, and tax requirements. This can be difficult, particularly if your payroll changes with each pay period, your staff fluctuates, your employees work varying amounts of hours each week, or your company pays payroll taxes in multiple states. If any of these situations describe your business, you can bet that handing your payroll off to a processing company will save you time and money.
Another incentive for outsourcing your payroll? According to the Internal Revenue Service, one out of three employers gets charged for a payroll mistake. With regulations constantly changing, tax filing omissions and errors are easier than ever to make. And the penalties aren’t cheap.
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