ASAP named presenter at Small Business Forum in Denver
May 4th, 2012
ASAP has been selected to speak at Denver’s Small Business Forum on Friday, June 1st. This all day event, brought to you by the Mile High Business Alliance, features over 50 sessions to choose from with plenty of great resources and workshops to help any size business.
Both Diana Murray and Richard Betts of ASAP will be presenting a breakout session on The Paperless Office – focusing on simplicity and using proven applications that allow business owners to work from anywhere while streamlining processing and workflow.
Keynote presentations by Denver Mayor Michael B. Hancock, CEO/Co-Founder of Survey Gizmo, Christian Vanek, and Matt Bauer from the Business Alliance for Loval Living Economies.
>>Information about ASAP’s presentation.
>>Registration and information about the Small Business Forum.
We invite you to join us in attending this unique event, and thank you for your continuous support!
EEOC updates its stance on background screening policies.
April 30th, 2012On April 25, 2012, the U.S. Equal Employment Opportunity Commission (EEOC) issued its Enforcement Guidance on the Consideration of Arrest and Conviction Records in Employment Decisions Under Title VII of the Civil Rights Act of 1964. Updated in the policy make it harder for employers use of background checks to systematically rule out hiring anyone with a criminal conviction.
Learn more by reviewing the list of Frequently Asked Questions from the EEOC.
NLRB Poster Requirement Delayed (again)
April 12th, 2012
ALERT, 4.17.2012 – NLRB Poster requirement delayed by emergency injunction.
The National Labor Relations Board’s (NLRB) rule to require all employers to post a notice informing workers of their rights under the National Labor Relations Act (NLRA) will not go into effect on April 30th after all. An emergency injunction was granted by the U.S. Court of Appeals on April 17. The Court also ordered briefing and oral argument in September 2012. This means that the rule will not go into operation, if at all, until the fall.
If you still wish to post this notice, current State and Federal Labor Law posters (including the new notice) are available to download free here, or you may purchase them with ASAP’s eHR subscription.
DOWNLOAD FREE 8.5×11 Notice (2 pages, print + connect)
PLACE ORDER with my eHR Account
Don’t have an eHR account, email asap@businessasap.com to get your username and password for a 30 day trial account.
NLRA Fact Sheet>>https://www.nlrb.gov/poster
Quarter-End Recap
March 23rd, 2012- New Employee Forms > New W-4 Form, New Colorado Affirmation of Legal Work Status
- Publication 15, (Circular E) Employer’s Tax Guide has been updated.
- Under the Middle Class Tax Relief and Job Creation Act of 2012, the payroll tax cut has been extended to the end of 2012
- NLRB poster requirement delayed. As of April 30, 2012 most employers will be required to post the new notice. Download free on our website.
- IRS offers incentives for employers to ID misclassified workers through their Voluntary Classification Settlement Program.
>>Full Update, Download ASAP Quarter-End Recap (PDF)
Tax Credit for Employer Health Insurance Premiums
March 6th, 2012The small business tax credit, passed with the 2010 Affordable Care Act, is designed to encourage employers to maintain existing health coverage or offer insurance to their employees for the first time. Businesses can claim the credit on the IRS Form 8941.
Who is eligible:
- Employers who employ fewer than 25 full-time employees.
- Employers whose annual average earnings wage per employee is less than $50,000 per year.
- Employer who pay at least 50% or more of employees’ premium cost for health insurance coverage.
Visit www.HealthLawGuideforBusiness.org for more details and helpful information or the IRS article to see how the credit might apply in different circumstances, etc.
Consult with your CPA for details.
Payroll Tax Cut Extended to End of 2012
February 24th, 2012IRS Newswire, Issue IR-2012-27
WASHINGTON — The Internal Revenue Service today released revised Form 941 enabling employers to properly report the newly-extended payroll tax cut benefiting nearly 160 million workers.
Under the Middle Class Tax Relief and Job Creation Act of 2012, enacted yesterday, workers will continue to receive larger paychecks for the rest of this year based on a lower social security tax withholding rate of 4.2 percent, which is two percentage points less than the 6.2 percent rate in effect prior to 2011. This reduced rate, originally in effect for all of 2011, was extended through the end of February by the Temporary Payroll Tax Cut Continuation Act of 2011, enacted Dec. 23.
No action is required by workers to continue receiving the payroll tax cut. As before, the lower rate will have no effect on workers’ future Social Security benefits. The reduction in revenues to the Social Security Trust Fund will be made up by transfers from the General Fund.
Self-employed individuals will also benefit from a comparable rate reduction in the social security portion of the self-employment tax from 12.4 percent to 10.4 percent. For 2012, the social security tax applies to the first $110,100 of wages and net self-employment income received by an individual.
The new law also repeals the two-percent recapture tax included in the December legislation that effectively capped at $18,350 the amount of wages eligible for the payroll tax cut. As a result, the now repealed recapture tax does not apply.
Restaurant Tip Credit
February 14th, 2012Don’t forget to tip your servers? If you are a restauranteur, don’t forget the Tip Credit.
Food and beverage establishments may take a business tax credit in the amount equal to the employer’s FICA tax obligation (7.65%) attributable to tips in excess of those treated as wages for purposes of satisfying the federal minimum wage requirement.
ASAP can help you and your CPA calculate the Tip Credit amount by providing a year-end report designed to calculate the Excess Social Security and Medicare taxes paid by the employer.
File Form 8846 if you meet both of the following conditions: 1- You had employees who received tips from customers providing, delivering, or serving food or beverages for consumption (if tipping is customary). 2- During the tax year, you paid or incurred employer Social Security and Medicare taxes on those tips. Claim this credit ONLY for taxes paid by food or beverage establishment where tipping is customary. Consult with your CPA for additional questions.
New Colo. Affirmation Form
February 6th, 2012The Colorado Division of Labor has revised the Affirmation of Legal Work Status form, also referred to as the Colorado Affirmation Form. The revised form became effective January 11, 2012. All new hires in Colorado on or after January 11, 2012 should use the revised form. There do not appear to be any penalties for not using the new form but it is recommend you show good faith compliance by using the most current form.
Visit “Downloads/Forms” to download the new form.
IRS Tax Tips
February 1st, 2012Now that all your W-2 and 1099 processing is out of the way, it’s time to focus on taxes. The IRS has shared a brief video describing the common tax return errors and how to avoid them.
Revised Employer’s Tax Guide Now Available
January 25th, 2012Publication 15, (Circular E) Employer’s Tax Guide has been updated to reflect the recent legislative changes including extending the payroll tax cut for employees.
