Recent News 2017-07-03T16:34:54+00:00

New and Newsworthy

Take Precautions to Fight Fraudulent Workers’ Comp Claims

Here are two critical questions: How often are Workers' Compensation claims filed against your company? And how often do you contest them? The answers are important. The National Council on Compensation Insurance recently estimated that 25 too 33 percent of all Workers' Compensation claims are invalid, yet less than 10 percent of these claims are challenged. The U.S Department of Labor calls it a crisis and says that for most companies, Workers' Compensation is growing faster than any other expense. The estimated cost of an average claim is at least $34,000. The expenses add up [...]

By | October 24th, 2018|Categories: HRP Blog|0 Comments

IRS Issues Guidance Deducting Meals Bought During Entertainment

The IRS recently provided transitional guidance about the deductibility of expenses for business meals that are purchased in an entertainment context. (IRS Notice 2018-76) The Basics Businesses can deduct ordinary and necessary expenses paid or incurred during the tax year in carrying on a trade or business. Before it was amended by the Tax Cuts and Jobs Act, the tax code generally prohibited deductions for entertainment, amusement or recreation activities. However, the tax code provided exceptions to that prohibition, so many businesses could write off some entertainment expenses. Now the TCJA generally disallows deductions for [...]

By | October 24th, 2018|Categories: HRP Blog|0 Comments

Is Overtime Doing More Harm Than Good at Your Company?

For a variety of reasons, many employees regularly supplement their base salaries with overtime pay. Some companies encourage the practice because managers believe it keeps the workflow on track during the busiest times. This may seem like a win-win situation, but there can be some hidden costs involved with working too much overtime. The biggest danger is that overtime will go from being a temporary solution to standard operating procedure. As the costs associated with doing business increase, many companies are tempted to cut employees. Management may take the position that reduced staffing levels are [...]

By | October 12th, 2018|Categories: HRP Blog|0 Comments

Claiming the New Employer Tax Credit for Family and Medical Leave

The Tax Cuts and Jobs Act (TCJA) establishes a new federal income tax credit for employers that provide qualifying paid family and medical leave benefits to their employees. This credit is only available for two employer tax years — those beginning between January 1, 2018 and December 31, 2019 — unless Congress extends the deal. Here are some FAQs about this tax break. How Much Is the Credit? An eligible employer can claim a credit equal to 12.5% of wages paid to qualifying employees who are on family and medical leave, if the leave payments [...]

By | October 12th, 2018|Categories: HRP Blog|0 Comments

Create an Accountable Plan to Reimburse Employees for Business Expenses

Did you know that the TaxCuts and Jobs Act (TCJA) eliminated itemized deductions for employees who incur unreimbursed expenses for company business for 2018 through 2025? Fortunately, you can set up a so-called "accountable plan" to minimize the adverse effects of this TCJA provision. Here's how the accountable plan deal works. Playing by a New Set of Rules Before the TCJA, an employee could claim an itemized deduction for unreimbursed business expenses to the extent they exceeded 2% of the employee's adjusted gross income (AGI) when combined with other miscellaneous expenses subject to the 2%-of-AGI [...]

By | October 12th, 2018|Categories: HRP Blog|0 Comments

Handling Sensitive Employee Data

Identity theft is a growing crime in this country and the liability risk of employers is increasing along with it. The reason is all the sensitive personal information collected from employees, job applicants, customers, independent contractors, business partners, patients and others. The Federal Trade Commission reports that every year, millions of Americans fall victim to identity theft. And according to some studies, improperly handled employee records were the greatest contributor to identity theft in the workplace. Companies must keep personal information about employees, customers and others confidential and secure - or risk liability for negligence. [...]

By | September 26th, 2018|Categories: HRP Blog|0 Comments

WHITE PAPER:

Could HR and benefits administration headaches be holding your business back? Learn how successful companies navigate HR operations in today’s uncertain business environment.

DOWNLOAD THE WHITEPAPER