Payroll departments take note, it has been announced that the Social Security wage base (the maximum amount of wages subject to the tax) for 2013 will increase to $113,700 from $110,100 in 2012, a 3.3% increase.  This increase will result in those employees earning $113,700 or more paying $7,049 in social security taxes with employers [...]

As 2013 approaches, the Advi$or thought we would outline what is in store for individuals regarding new ObamaCare taxes that kick in and how they relate to payroll. Starting Jan 1, 2013, for those individuals who earn $200,000/yr ($250,000 married) the medicare payroll tax will increase.  For the first $200k, the medicare tax will remain [...]

Payroll departments need to be aware of the requirements regarding additional income paid to employees and overtime regulations regarding overtime pay. That income could include bonuses, commissions, even regular payments for other circumstances. If additional payments are made to hourly or non-exempt employees, it could have an effect on how overtime pay is calculated. First, [...]

"There is no greater gift than the gift of life" Time & Pay has teamed up again with the American Red Cross to sponsor our 7th annual Time & Pay Blood Drive. As Gwen Hunter, Director of Donor Resources Development notes. "We appreciate Time & Pay's commitment.  By sponsoring blood drives, Time & Pay is [...]

As of January 2013, the minimum hourly wage rates in 4 states will increase. Effective January 1, 2013 the minimum wages in  Montana, Ohio, Oregon, and Washington have been legislated to increase. An increase to the wage rate in Colorado has also been proposed. In Montana, the minimum wage rate is to increase to $7.80 [...]