October 2015 Newsletter: Your 2016 Checklist
It’s hard to believe that the 4th Quarter of 2015 is already upon us. Now is typically the time of year that I sit down and evaluate all aspects of my business, and I encourage my clients to do the same. With each passing year, the burden of compliance for small business grows. That is why I wanted to take the time to present you with Advantage’s 2016 Compliance Checklist:
- Affordable Care Act: For businesses that fall around the 50 employee mark and have all types of employees (Full-time, Part-time, and Seasonal), it can be difficult to know whether or not you are required to provide affordable healthcare options under the law. Your amount of full-time and full-time equivalent workers must be diligently tracked on a monthly basis to ensure compliance. Advantage can help secure your business’ 2016 Affordable Care Act compliance with our comprehensive ACA Reporting Service.
- HR Consulting: There are a lot of laws regarding how employees must be treated. The majority of small business owners do not have a trained Human Resources professional on staff. Are you providing all employees with a clear, accurate, updated handbook? Are your employees all classified correctly? Advantage offers a variety of HR Management options for every need and budget. If you’re concerned about your HR practices, take our free 3-minute HR Audit today. You’ll get some feedback on how your company is doing and learn more about how your practices can be improved.
- Pay-As-You-Go Workers’ Compensation: The regulations on when it is required vary from state to state, but most employers are required to have workers’ compensation insurance. Our sister company ICG offers a unique and hassle-free approach to paying for workers’ compensation insurance. Rather than paying for insurance up to a year in advance and tying up vital cash, premiums are paid as you go, one payroll period at a time! Workers’ compensation policies typically require you to pay 25% down each year and then pay monthly or quarterly payments. Pay-as-you-go eliminates down payments and large end-of-year billing adjustments that are the result of incorrect estimates.
- Compliance Poster Service: Federal and state mandatory labor law posting are required for all businesses with more than one employee. But legislation changing the required posting can change at any time, and you, the business owner, are responsible to keep postings current. Since January 2007, there have been over 100 different changes in state and federal labor law postings. With our Compliance Poster Service, you will receive an initial laminated, all-in-one state and federal poster, as well as email updates every time the law changes and new posting is required. Simply print the emailed update and post alongside your original poster. It’s that easy! If you prefer a brand new poster every time there is a change, we have a service for that too!
Make sure your business stays current and complies with the law. For more information or to sign up for any of our Compliance Services, call (800) 440-9033 x31 today!