Does it seem as though you have two jobs?
StaffScapes gives you the freedom to focus on what you do best; growing your business. As a Professional Employer Organization (PEO) we take legal responsibility for a large part of your day-to-day duties letting you concentrate on your core business.
Between running your business and keeping up with ever-increasing administrative responsibilities, you may feel that you actually do have two jobs. Now imagine having only one job. For more details on how a PEO can make your business run better contact StaffScapes, Inc. 303-466-7864 or info@staffscapes.com.
Friday, December 08, 2006
Taxing Bonuses and Other Supplemental Wages
Holiday bonuses can bring a bout of stress when determining how to corectly tax the amount, here’s a refresher on supplemental wage tax
In honor of the upcoming holidays, which inevitably brings about the question of holiday bonuses, we thought it an appropriate time to discuss supplemental wages.
Any compensation paid in additional to regular wage/earnings is considered supplemental wages. This includes sick pay, vacation pay, commissions, and bonuses.
Employers have options when paying supplemental wages. They can combine the supplemental wages with the regular pay and have it taxed under one bracket. However, if an employer decides to separate supplemental wages from regular pay, the supplemental wage then gets taxed at flat federal rate of 25%, plus additional state tax. For more information on how to handle supplemental wages, contact StaffScapes at (303) 466-7864.
Thursday, December 07, 2006
Holiday Party Safety
Holiday parties, safety and company liability
While Holiday parties are a time for employees to get together and a time to be free of work duties there are still precautions that companies need to. It is the company’s responsibility to make sure that everyone is safe. Some things to consider when planning your holiday party:
Limit the number of drink tickets – people tend to drink less when they have to pay for them.
Focus more on the food and entertainment than the drinks
Stop serving drinks at least an hour before the party is over
Provide designated drivers or offer reduced cab fares or hotel room rates
Designate someone to make sure that people are cut off before getting out of hand
Make sure that upper management is setting a good example
Above are just a few examples of how to reduce your liability at office parties. Contact StaffScapes if you are interested in learning more about Workers’ Compensation policy information at 303-466-7864.
Wednesday, December 06, 2006
Making a case for a Professional Employer Organization – PEO
It is difficult to change from “the way things have been done.”? Here are a few good reasons why it makes sense to talk to a PEO about partnering with, or creating strategies to use a PEO.
Consolidation – Reduce the amount of employment related vendors you use, and use only one, the PEO.
Greater Collaboration – More experience and expertise in human resources and employment issues than small businesses have on staff.
Better use of personnel- Let your staff concentrate on what they were hired for, and let the PEO focus on the employment headaches.
Stronger Compliance - PEOs stay on top of the ever changing employment laws and regulations.
Document storage and maintenance- Employee files, I-9, HIPPA compliance,
Added Value- Have the best systems and best people working for you to handle all employment needs
Disaster Protection – Off-site storage and processing of employment related matters.
IRS issues tax calendars for 2007
Tax Calendars for 2007 (Publication 509), has been released by the IRS.
A tax calendar is a 12-month calendar divided into quarters. The calendar gives specific due dates for the following: Filing tax forms; Paying taxes; and Taking other actions required by federal tax law. Employers are the primary users of this publication, however, the general tax calendar has important due dates for all businesses and individuals. Also, anyone who must pay excise taxes may need the excise tax calendar. To decide which calendar(s) to use, first look at the general tax calendar and highlight the dates that apply to you. If you are an employer, also use the Employer’s Tax Calendar. If you must pay excise taxes, use the Excise Tax Calendar. Depending on your situation, you may need to use more than one calendar.
Saturday, Sunday, or legal holiday. Generally, if a due date for performing any act for tax purposes falls on a Saturday, Sunday, or legal holiday, it is delayed until the next day that is not a Saturday, Sunday, or legal holiday. These calendars make this adjustment for Saturdays, Sundays, and most legal holidays. But you must make any adjustments for statewide legal holidays. (An exception to this rule for certain excise taxes is noted under the Excise Tax Calendar.)
2007 Federal holidays. Federal legal holidays for 2007 are listed below.
· January 1— New Year’s Day
· January 15— Birthday of Martin Luther King, Jr.
· February 19— Washington’s Birthday
· May 28— Memorial Day
· July 4— Independence Day
· September 3— Labor Day
· October 8— Columbus Day
· November 12— Veterans’ Day
· November 22— Thanksgiving Day
· December 25— Christmas Day
Fiscal-year taxpayers. If you file your income tax return for a fiscal year rather than the calendar year, you must change some of the dates in this calendar. These changes are described under Fiscal-Year Taxpayers at the end of this calendar.
If you have a tax question contact the IRS at www.irs.gov or call 1-800-829-4933. If you would like to reduce your employment responsibilities and risks (including federal tax reporting and deposit requirements) please call StaffScapes, Inc. at 303-466-7864 and ask a representative how we can help.
See Also
Tuesday, December 05, 2006
PEO & 401K Plans
PEOs allow you the freedom to custom design a plan and eliminate the testing hassles of a plan that come along with having small business.
Are you looking to add a 40k plan to your business or do you have a plan in place and hate the expense or testing problems that come with having a 401K plan? Does your plan constantly fail testing year after year because you do not have enough employees participating in your 401K plan? If you answered yes to any of the above questions your company may be a good candidate to use the service of a PEO or Professional Employer Organization. Through the co-employment agreement with a PEO you can eliminate the cost and the testing problems associate with having a 401K plan. The IRS ruled that all PEOs must have a multiple employer plan in place. This arrangement allows the PEO to custom tailor the plan for your business. The 401k plan can be a basic plan with just simple 401k participation rules that only allow employee contributions or it can be a rich plan with certain safe harbor or employer matching provisions. A plan also can be set up and change with out extra expense and paperwork. Eliminate some of the headaches that come along with having employees, benefits and 401k plans contact a PEO today.
StaffScapes provides PEO services in Colorado and across the nation. Contact our sales or benefit department to learn more about our 401K plan. We can be reached at 303-466-7864
Monday, December 04, 2006
PEO & Compliance for Small Employers
From simple payroll processing to complex benefits and HR administration and risk management PEO’s will insure compliance.
As any employer knows, every day a new law, government regulation or rule that must be incorporated into a business. Keeping up with constantly changing legal aspect of being an employer has become a daily chore that diminishes your productivity. A Professional Employer Organization - (PEO) will keep you up to date with the most current and applicable state, local and federal laws. Threw a PEO co-employment agreement a PEO will ensure compliance with:
Federal and State labor laws
IRS Regulations
OSHA & COBRA
Federal & State labor Posters
American with Disabilities Act (ADA) & the Family Medical Leave Act (FMLA)
Allow a PEO to keep you current and legal is a great value added service for small employers. StaffScapes is capable and ready to assist your company with payroll outsourcing, human resources, employee benefits and workers compensation so that you can stay focused on expanding your business. Learn more about a PEO and the services they provide contact StaffScapes at 303-466-7864
Friday, December 01, 2006
Federal Tax Deposits
In October the IRS determined your deposit requirement for 2007 from the total taxes you reported on your Forms 941 for the previous four quarter lookback period..This time year certain employers will receive from the IRS a letter explaining their tax payment responsibilities for the coming year. If your business grew or you paid out some large bonuses your business may be required to change it’s Federal Deposit requirements that are reported on IRS form 941. Are you paying monthly now and moving to a semi-weekly schedule? One of the benefits with working with a PEO like StaffScapes is that this payment schedule falls on the shoulders of the PEO. Your business will no longer receive these type of employment letters from the IRS. If you are not using a PEO or payroll service company check out the IRS publication below to learn more. To eliminate this liability contact StaffScapes at 303-466-7864.
See Also
Slips and Falls
Prevent slips and falls clear all walkways when winter weather is pounding at your door.
With winter weather hitting most of the US this week employers need to make sure that walk ways around there buildings are clear. An employee who has not clocked in to start his or her shift and slips or falls on the sidewalk or steps outside the workplace building will be considered a workers compensation claim against that business. Just because the employee has not started work or has just completed his shift does not mean the employer is exempt from a claim. Employers need to be sure walkways are clear and salted or sanded to prevent any type of slip or fall. Be sure all private property is clear and safe to walk on. If an employee get huts be sure to report that injury to Pinnacol Assurance in Colorado or your workers compensation Carrier immediately. The link below is to StaffScapes 1st report of injury. If you are not a client of StaffScapes contact your workers compensation provider for the correct forms to report an injury.
Encourage your employees to report any unsafe walkways or steps this winter.
Thursday, November 30, 2006
Flexible Spending Accounts and Dependent Care Accounts
Open Enrollment for most companies offering FSA and Dependent Care accounts go’s on in December.
All enrollments for the FSA or Dependent Care Accounts for StaffScapes Professional Employer Organization (PEO) clients are due by December 22nd 2006. This is to enroll for expenses incurred in the 2007 calendar year. FSA and Dependent Care are a benefit to have money set aside in an account for reimbursements. The money is deducted from the employees check on a pretax basis. Employees that participate will not have to pay Social Security, Medicare, Federal or State taxes on the money that is withheld.
As a Colorado PEO this is a standard benefit that is provided to all employees at no cost to the employer. Please contact StaffScapes Benefits Department to get a full list of reimbursable expenses or to request enrollment forms at 303 466 7864.
StaffScapes will remove all the administrative hassles of providing FSA and Dependent Care Accounts for your employees. If you are interesting in offering this benefit and other great benefits to your employees please contact StaffScapes Sales Department at 303-466-7864.
FSA - Flexible Spending Accounts
Reminding FSA participants that the end of year is near and to make sure that you have used all the money your FSA account. Receipts must be dated for services rendered in 2006 and claims must be submitted by March 31, 2007.
FSA - Flexible Spending Accounts – End of year coming soon
There are many reimbursable expenses that can be applied to the FSA account, prescriptions co-pays, dental treatments, contacts/glasses, eye exams, chiropractic treatments, medical visit co-pays or out of pocket medical expenses, and many more.
Please contact StaffScapes to get a full list of reimbursable expenses or to request FSA reimbursement forms.
If you are interested in participating in the FSA or would like to offer this benefit to your employees please contact StaffScapes Benefit Department at 303-466-7864
