Effective January 1, an estimated 10 million employees will pay more Social Security payroll taxes for the coming year due to an increase in the taxable minimum-up to $118,500 over the previous amount, $117,000. Employers should take steps now to notify affected employees and adjust their payroll systems to ensure compliance.
In addition, there are many other payroll tax issues that must be on your radar for 2016, including 401(k) limits and mandates, commuter & fringe benefits, healthcare mandates, new tax forms and proposed increases to FUTA.
The last thing you want is for senior management to be surprised by unexpected issues that arise on your watch simply because you weren’t up to speed on the latest payroll tax compliance updates for 2016 – and didn’t make adjustments accordingly.
In just 90 minutes, you’ll learn the latest payroll tax updates for 2016 and how to ensure that you’re in compliance.
Areas Covered in the Session :
Get the rundown on changes affecting payroll taxes for 2016. Our presenter, a seasoned tax consultant who regularly advises businesses on how to stay in line with current payroll tax obligations, will also provide a framework for ensuring compliance. Participate in this interactive webinar and youíll learn:
The list of “credit reduction states” and the additional FUTA due in these states
How to prepare for pending FUTA increases in the next few years, and tips for incorporating these into your budgets
The rundown on new forms, changes to existing forms, and how to tell which ones apply to your business
Tips on adjusting your reporting practices for new hires
When you could face legal liability for non-compliance concerning independent contractor reporting
Who Will Benefit:
Small to Medium Sized Business Owners
Start up Entrepreneurs