AlphaStaff’s Year-End Process - 2013

Presented by
Mike Johnson, CCP – Sr. Manager of Payroll
AlphaStaff

Simplifying busi...
Address Changes
W-2s are mailed to the employee
address on file

Review Employee Addresses on
InfoSource
• Web Reporting /...
Year-End Adjustments
Adjustments Include

• Void checks
• Manual checks
• All fringe benefits to be reported on a W-2

Dea...
Year-End Bonus

•Will you want all live
checks?

Bonus schedules should
be communicated to
AlphaStaff one week
before the ...
Employer-Paid H.S.A.
W-2 Box 12, Code W

AlphaStaff administered plans
are automatically updated

Submit Employer Paid Por...
The Patient Protection and Affordable
Care Act of 2010
The Affordable Care Act requires employers to
report the cost of co...
The Patient Protection and Affordable
Care Act of 2010

AlphaStaff Administered Plans
• Automatically reviewed
• Qualifyin...
The Patient Protection and Affordable
Care Act of 2010
Last Payroll

Processing Quick Tips

Deadline

• Deduction Listing
...
Self-Employed Individuals
Who are Self-Employed Individuals?
•
•
•
•

S-Corp - More than 2% Shareholders
LLP - Partners of...
Third-Party Sick Pay

What is ThirdParty Sick Pay?
• Disability payments
• Payments are
considered wages
and must be
repor...
Group Term Life
Imputed Income
• Imputed income is the taxable value of group life insurance over $50,000 that is provided...
W-2 Delivery Options
Electronic W-2 Registration

Paper W-2

• www.paperlessemployee.com/alphastaff
• Electronic registrat...
What if my employees have questions?
www.paperlessemployee.com/alphastaff

**Processing fees apply**

E-mail

Fax
(866)616...
December

• Adjustment Due – 12/13/2013 – Final Adjustments Due 12/26/2013
• Self Employed Info and H.S.A. Figures Due – 1...
QUESTIONS?
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Year end process 2013

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We review many important items that will help make a successful Year-End. We’ll review the W-2 process, explaining the changes that occurred during 2013 and how they’ll affect your employee’s W-2s, discuss some of the most common year-end adjustments, and review how to ensure your employee information is correct. We’ll also go over some of the expected Tax changes for 2013.

Presented by AlphaStaff PR /Finance

Published in: Business, Economy & Finance
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Year end process 2013

  1. 1. AlphaStaff’s Year-End Process - 2013 Presented by Mike Johnson, CCP – Sr. Manager of Payroll AlphaStaff Simplifying business. Benefiting people 2013 Webinar Series December 19, 2013
  2. 2. Address Changes W-2s are mailed to the employee address on file Review Employee Addresses on InfoSource • Web Reporting / HR Template / Employee Master Submit address changes to Payroll Maintenance by December 27, 2013
  3. 3. Year-End Adjustments Adjustments Include • Void checks • Manual checks • All fringe benefits to be reported on a W-2 Deadline to Report • Any currently known adjustments must be submitted by Thursday, December 26th All other adjustments must be received by Friday, December 27th • W-2c will be required after this deadline has passed
  4. 4. Year-End Bonus •Will you want all live checks? Bonus schedules should be communicated to AlphaStaff one week before the processing date Your payroll specialist will go over the check list Discuss your processing preferences with your Payroll Specialist •Will the checks be processed as separate checks? •Should retirement deductions be withheld?
  5. 5. Employer-Paid H.S.A. W-2 Box 12, Code W AlphaStaff administered plans are automatically updated Submit Employer Paid Portion of H.S.A. for Client Plans by December 16th
  6. 6. The Patient Protection and Affordable Care Act of 2010 The Affordable Care Act requires employers to report the cost of coverage under an employer-sponsored group health plan. • This does not mean that the amount reported is taxable • The amount reported is excluded from income • The reporting is for informational purposes only
  7. 7. The Patient Protection and Affordable Care Act of 2010 AlphaStaff Administered Plans • Automatically reviewed • Qualifying plans will be reported • No additional action required
  8. 8. The Patient Protection and Affordable Care Act of 2010 Last Payroll Processing Quick Tips Deadline • Deduction Listing • Benefit Reporting Template • Numbers final early? Contact your Payroll Specialist • To avoid delays, do not modify your spreadsheet • Template due January 3, 2014 http://www.irs.gov/uac/Form-W-2-Reporting-of-Employer-Sponsored-Health-Coverage
  9. 9. Self-Employed Individuals Who are Self-Employed Individuals? • • • • S-Corp - More than 2% Shareholders LLP - Partners of a Limited Liability Partnership LLC taxed as a Partnership - the Partners of the LLC LLC taxed as an S-Corp - those who are more than 2% Shareholders Participation (Medical, Dental, Vision) • Contribution must be 100% employer paid • If there is an owner contribution, the contribution must be post-tax • Self-employed individuals may not participate in the FSA program Responsibility • It is the owner’s responsibility to report if they are not eligible for pre-tax deductions Deadline • Owners should report any changes by December 16th
  10. 10. Third-Party Sick Pay What is ThirdParty Sick Pay? • Disability payments • Payments are considered wages and must be reported on the W-2 Responsibility Deadline • AlphaStaff will retain the information for all AlphaStaff plans • For client sponsored plans you must submit the information from your provider • In all cases, the employer is responsible for the employer’s portion of taxes • 10 am EST December 27, 2013 • Any Third-Party Sick Pay received after this time are subject to receive a W-2c for a $30 fee per adjustment
  11. 11. Group Term Life Imputed Income • Imputed income is the taxable value of group life insurance over $50,000 that is provided to employees AlphaStaff Sponsored Plans • The AlphaStaff plans are not subject to imputed income • No action or additional taxation is required Client Sponsored Plans • You must include in your employee's wages the cost of group-term life insurance beyond $50,000 worth of coverage, reduced by the amount the employee paid toward the insurance • For more information go to http://www.irs.gov/pub/irs-pdf/p15b.pdf Deadline • All Imputed income must be reported by December 27, 2013
  12. 12. W-2 Delivery Options Electronic W-2 Registration Paper W-2 • www.paperlessemployee.com/alphastaff • Electronic registration must be done no later than January 4, 2014 • Employees who registered last year will automatically receive an electronic copy of their W-2 for 2013 • For those not registered for an electronic W-2, paper W-2s will be issued no later than January 31, 2014 • W-2 will be mailed to the address in the system as of December 27, 2013 • If an employee had received an electronic copy last year but would like to switch to paper, they need to log in to www.paperlessemployee.com/alphastaff and “Opt Out” All active employees will have access to their W-2 on InfoSource February 15, 2013
  13. 13. What if my employees have questions? www.paperlessemployee.com/alphastaff **Processing fees apply** E-mail Fax (866)616-5034 W2generalinquiries @alphastaff.com W-2 Call Center Opens 2/6/14 (888)778-9128
  14. 14. December • Adjustment Due – 12/13/2013 – Final Adjustments Due 12/26/2013 • Self Employed Info and H.S.A. Figures Due – 12/16/2013 • Address Changes and Third-Party Sick Pay Due – 12/27/2013 January • Benefits Reporting Template Due – 1/3/2014 • Last Day to Register for Electronic Delivery of 2013 W-2s – 1/4/2014 • W-2s Must be Postmarked and Mailed – 1/31/2014 February • W-2 Call Center Opens and W-2 Reissue Requests Begin – 2/6/2014 • W-4 Exempt Employees Claim Due for 2014 - 2/12/2014 • W-2s Available for Employees on InfoSource – 2/15/2014
  15. 15. QUESTIONS?

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