Top 2017 changes to Update & Implement - Payroll Intricacies & 2017 changes

         Payroll sounds like a simple process, on the contrary, it can be a daunting task. Payroll laws and regulations are constantly changing making payroll into a legal minefield and easy to make mistakes. Companies are finding themselves on the wrong end of lawsuits, audits, investigations and claims for payroll regulation violations daily. The Department of labor is on the prowl for the following "Hot" areas. Consider yourself warned!

         In this ever changing world of business, it is critical that we correctly determine whether the individuals providing services to our companies are employees or independent contractors and per the statutes report such in the correct manner to avoid audits and other enforcement efforts. The IRS says if you treat employees as non-employees you will be liable for all social security and Medicare taxes and withholding taxes for the entire period of mis-classification plus all penalties and interest. The employer also must be aware the with the Federal & State governments systems share any non compliance.

         With this world of competitiveness, businesses are pushed to supply customers the best prices. One of the way companies are trying to cut expenses is reclassifying employees.

As yourself this question: Can your company afford to make a million dollar mistake?

         Case in point: Recently a US employer was assessed a $18.3 million dollar fine by U. S. Department of Labor (DOL September 29, 2015).

         With around 20 different kinds of employment records and many federal and state laws regulating, in payroll management to satisfy federal requirements, it can be a daunting task. A normal definition of payroll management would be that the administration of the financial record of employees' salaries, deductions, bonuses, and net pay.

         Payroll management can be quite challenging to a new business owner as much as the existing businesses. Failure to follow any of these federal rules or any error in employment records, it could result in heavy fines or worse. Payroll laws and regulations are constantly changing making payroll into a legal minefield and easy to make mistakes.

         It not just what wrong the company's do but also what company does not know that can hurt them. That's never more true than dealing with payroll. The first step to complying with regulations is understanding them. Learn the up to date regulations.

         This webinar will help you in learning, applying and optimizing 2017 payroll updates. Find below the list of essentials and must-dos you can expect to learn from the webinar.

• The latest regulation changes that impact your company
• The current duties test, updated "Primary Duties" and "Suffer or Permit"
• Classification of "working time or worked time"
• The exempt and non-exempt classifications in 2017 new rules
• Calculate overtime with ease
• Understanding taxable gifts, bonus and awards (parking, achievement awards, length of service awards, athletic facilities, deminmus benefits)
• Common pitfalls of Wage and Hour laws that can be costly
• "Comp Time" and how to use it instead of overtime
• Independent Contractor rules

• Understand the latest regulation changes that impact your company
• Understand current duties test, updated "Primary Duties" and "Suffer or Permit"
• How to classify "working time or worked time?"
• Understanding exempt and non-exempt classifications 2016 new rules How to calculate overtime
• Understanding taxable gifts, bonus and awards (parking, achievement awards, length of service awards, athletic facilities, deminmus benefits)
• Common pitfalls of Wage and Hour laws that can be costly
• How to calculate overtime?
• When you can give "Comp Time" instead of overtime

This webcast will be of a valuable assistance to the below audience.

• Payroll Department Personnel
• HR Staff
• Employee benefits Professionals
• Business Owners
• Any employee responsible for developing and/or maintaining an effective records retention, access and destruction program
• Anyone who wishes to increase or refresh their knowledge of Record Retention and Destruction