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Payroll

Nov. 2: Time to fall back

10/24/2014
Don’t forget daylight saving time’s effect on the payroll department.

Rules allow employees to opt out of cafeteria plan coverage

10/23/2014
Cafeteria plans may, but aren’t required to, allow employees who experience a change in status (such as a change in marital status) to change or revoke their elections. The IRS has expanded the conditions under which cafeteria plans may allow employees to revoke their elections to participate in group health plans to account for individual coverage that’s available on the exchange, which may be a better deal for them.

SHOP 2015: Buying health insurance on the ACA exchanges

10/22/2014
Under final ACA regulations, open enrollment for the 2015 plan year begins Nov. 15, 2014, for small employers that buy group health plans through the federally run Small Business Health Options Program. State-based SHOPs can set their own open enrollment periods.

Worker damaged truck then quit: Any recourse?

10/22/2014
Q. An employee driving a backhoe backed into a wall and tore the door off. We had to install a new door ($275), but the employee quit that same week. So we deducted $275 from his last check. Now he says he’s talking to a lawyer. Were we right?

FICA wage base increases to $118,500 for 2015

10/22/2014
The 2015 taxable wage base for the Social Security portion of FICA is $118,500, a 1.28% hike over the 2014 wage base. The 6.2% Social Security tax is payable by both employers and employees; in 2015, the maximum tax is $7,347.

5 ways employers should respond to wage garnishments

10/20/2014
While the economy is finally waking up from the Great Recession, millions of Americans are still feeling the hangover in the form of wage garnishments. What if a lender wants a piece of your employee’s paycheck? Here are five tips.

All large employers on the 2015 health care reporting hot seat

10/20/2014
Now is the time to make decisions regarding information reporting, since the first returns are due in 2016.

Take a bite out of corporate travel expenses with per diems

10/17/2014
How can you keep employees out on the road without busting the company’s travel budget? You can get more bang for your travel buck if you use the federal government’s per diem rates.

Don’t be spooked by year-end Payroll tasks

10/15/2014
Trick or treat—it’s a very simple menu. To avoid a huge year-end trick, and have a sweet year-end, cross off these tasks from your to-do list.

Health benefit reporting on 2014 Forms W-2

10/15/2014
Here’s a downloadable breakdown of health benefits and whether you must report them. The IRS has clarified that even if a benefit isn’t reportable, you may voluntarily do so.