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Some Things Never Change

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  One of those never ending irritants going on for centuries is that everyone wants your money. That game has been around for a long time.  The more money they get from you the bigger their smile as they ride off into the sunset telling stories to their comrades of how they did it and… Read More

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Temperatures are rising!

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Temperatures are rising… Along with your monthly payroll processing bill – just like last year… and every year, correct? That just does not seem right. And that’s why PayAmax Payroll is giving you a different approach to payroll and payroll billing. It has been years since PayAmax last raised rates. PayAmax also has a much… Read More

Dangerous Email and Phone Scams Target Payroll Departments

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We now live in a society where you need to be protective to secure all of your information, even an affirmation of “Yes” or “OK”. USA Today reported (http://www.usatoday.com/story/tech/nation-now/2017/01/27/can-you-hear-me-phone-scam/97152110/) that there is a rise in soliciting phone calls by people trying to scam you.  The latest is to ask a question to get a confirming… Read More

Totally Awesome Year End Checklist!

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Use this checklist to help you avoid year mine fields   _______ New deadline this year for filing Employer W-2/1099-MISC returns, both electronic and paper, is January 31st (instead of February 28th) _______ Remind employees to update changes to Address and Name and verify their SSN is correct. _______ Enter Fringe Benefits before the last payroll… Read More

What is State Reciprocity for Payroll Taxes?

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Popular opinion is you withhold taxes based on the resident state but legally you have to consider both the work state and the resident state and whether there is a reciprocal agreement between the two states. Reciprocity is the agreement between two states to allow withholding based on the state where the employee lives instead… Read More

When to get new employee W-4’s

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Don’t forget to get new W-4’s for 2016 for any employee who claimed “exempt” from Federal taxes on last year’s W4. Each year the IRS requires employees who claim exempt to complete a new W-4. Run a report in your payroll system to see if any employee is set up as exempt from Federal taxes…. Read More

2016 Limits for Payroll Calculations

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Some limitations have changed from 2015 to 2016 To download the table of the 2016 payroll calculation limits along with the highlights of what has changed and what has not changed click this link: 2016 Limits    

PayAmax Case Study – Capitol Paving of DC

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This Payroll Case Study shows how taking the time to evaluate payroll solutions that streamline your operations will pay off in a big way. As explained by Capital Paving it was like coming out of the dark ages and into the light.   The Capitol Paving Story: There was a time when, for several years,… Read More

Are you taxing all of your employee’s income?

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In order to record fringe benefits on your employees you will want to input fringe items no later than the last payroll of the year.  Fringe benefits are benefits the employee received that are taxable based on fair market value.  When you record them, you want the employee to be taxed on the benefit but… Read More

What is Third Party Sick Pay and what do I need to do?

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When an employee goes out on a Long Term Disability or Short Term Disability and gets paid by the company or a company sponsored insurance company, the payments that the employee received need to be reported to the IRS on the form W2, W3, and 941. Based on the agreement with the insurance company the… Read More

Are you ready for Health Care Reform?

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Do you have more than 50 employees? Are you required by law to provide your employees affordable healthcare? You will want to confirm that you are not affected by the Health Care Reform. As of 2015, penalties are calculated based on number of full time employees employed. When counting your employees, part time employees need… Read More

10 Million Workers Will Pay More in Social Security in 2015.

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According to the Social Security Administration, about 10 million additional tax payers will pay higher taxes because of the higher taxable wage base. The 2015 social security wage base will be $118,500, an increase of $1,500 from the 2014 wage base of $117,000. The social security tax rate is 6.2% each for the employee and… Read More

IRS Announces 2015 Pension Plan Limitations; Taxpayers May Contribute up to $18,000 to their 401(k) plans in 2015

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IR-2014-99, Oct. 23, 2014 WASHINGTON — The Internal Revenue Service today announced cost‑of‑living adjustments affecting dollar limitations for pension plans and other retirement-related items for tax year 2015. Many of the pension plan limitations will change for 2015 because the increase in the cost-of-living index met the statutory thresholds that trigger their adjustment. However, other… Read More

Keep a lookout for changes to Sick Pay Reporting.

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Third-party sick pay recap reporting. The IRS expects to change the third-party sick pay recap reporting and filing requirements for wages paid in 2014. This change is expected sometime in December of 2014. Information about this change will be included in Publication 15-A..

How will you spend your Thanksgiving?

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Whether you are enjoying a turkey dinner with all of the trimmings with family and friends, planning your black Friday shopping spree, watching football, or serving a meal at a food bank, this day is a day of remembrance and giving thanks. If you think about how Thanksgiving has evolved since the “First Thanksgiving”, a… Read More

Can charts to make your job easier? The IRS thinks so!

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To aide in reporting, the IRS has added the follow charts in the instructions for completing W2s which include: Form W-2 Box 13 Retirement Plan Checkbox Decision Chart, Form W2 Reference Guide for Box 12 Codes and a Nonqualified Deferred Compensation Reporting Examples Chart.    2014 W2 Instructions Page 27 – 30 Reminder –Reporting the cost… Read More

Do you Withhold Payroll Tax In Virginia? What you need to know!

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Due Date Change The due date for the Employer’s Annual Summary of Virginia Income Tax Withheld (Form VA-6 or Form VA6-H) along with required wage statements (Forms W-2 and 1099) has been changed to January 31.  This will allow for the faster and more secure processing of income tax refunds.   See Virginia’s  tax withholding website… Read More