CPAdvantage April 2014
In Review: First Quarter 2014
From The Top
By Rob Basso
President, Advantage Payroll Services
With all the cold and gloom still hanging around, it’s hard to believe that the first quarter of our business year is drawing to a close. A lot of important news and updates have occurred in the first few months of this year. Many of Advantage’s own initiatives have focused on keeping our clients in compliance with different government regulations.
The employer mandate provision of the Affordable Care Act was again delayed on February 11, giving small firms with 50-99 full time or equivalent employees more time to figure out how to offer insurance to their workers without being penalized. That means Employers with 50-99 full-time equivalent employees in 2014 will not face any penalties for failure to comply with the employer mandate in 2015. They must comply in 2016 as it stands now.
Our newest product offering can help your clients determine if they need to offer coverage to their employees under this provision. Determining the number of full time employees their company has in the eyes of the federal government can be complicated for your clients—the total number of hours worked by all employees (30 hours or less) may create a full-time equivalent total equal to 50 or more employees. Companies with 100+ FTE must comply in 2015, companies with 50+ FTE must comply in 2016. But with Advantage Payroll’s ACA Reporting, we can take the information your clients provide to run their payroll and create a comprehensive yearlong look-back that will remove the uncertainty and provide definitive answers on whether or not they need to offer coverage.
We are also excited to announce the next installment in our webinar series on the Affordable Care Act “ACA Webinar Series—Part III.” Back due to popular demand, the webinar will take place Monday, April 21, with our resident certified HR Professional. Stay tuned for more webinar updates as the date approaches.
As you can see, despite the slowing effect of the weather, we started this year off at a brisk pace. We know that our new offerings will help keep your clients compliant and ensure they spend more time on the business at hand.
Best wishes for a successful year!