2019 Brings 10 Important Changes To Payroll

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2019 Brings 10 Important Changes To Payroll
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• Small businesses are said to employ almost half
  of all workers in the U.S. and if you run a
  business with employees, then your payroll is
  likely to be a little different this year here
  are the top 10 changes to payroll for 2019
• 1. Rule changes for minimum wage
• State and local rates apply if wages are higher
  than the federal rate (which remains unaltered at
  7.25 per hour), and as a result, around 20
  states have increased their rates from the
  beginning of the year.

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• 2. New requirements for employment posters
• You can check with DOL, OSHA and your local labor
  department for free posters to display applicable
  minimum wage rates and other information,
  something that employers are now legally obliged
  to display.
• 3. New limits for Social Security
• The employer and the employee pay 6.2 of Social
  Security tax up to the wage base limit, and for
  2019, this is set at 132,000 and has risen from
  128,400 in 2018.

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• 4. Increased limits for qualified retirement
  plans
• If you offer your employees a 401(k) or SIMPLE
  IRA, then the limits have increased since the
  previous year. Check with your local payroll
  provider for more detailed information.
• 5. New limits for FSAs
• In 2018, the amount of compensation that
  employees could commit to medical flexible
  spending accounts (FSAs) was set at 2,650 and
  has since increased to 2,700. The limit for
  dependent care FSAs, however, remains fixed at
  5,000 and is not annually adjusted.

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• 6. Options for medical coverage
• Currently, the employer mandate for companies
  with 50 or more full-time equivalent employees
  remains in place, but smaller employers can
  choose to provide coverage with some changes to
  the laws to be noted in 2019, such as
• The limit for health savings accounts has risen
  and
• There are increased contribution amounts for
  qualified small employer health reimbursement
  arrangements such as QSEHRAs

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• 7. Other employee benefits that may have
  changed
• Benefits such as transportation, that may include
  free parking, transit passes etc, have increased
  amounts that can be received tax-free. Up from
  265 per month last year, the total is now 270,
  but this benefit cannot be deducted.
• 8. Possible changes to state unemployment taxes
• Some changes that may have occurred in 2019 are
  those to unemployment tax rates, and these
  changes may be due to new or altered laws, such
  as increased state unemployment tax base amounts
  in Oregon and Washington, or an individuals
  claims experience.

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• 9. Changes to workers compensation costs
• Checking with your state is the only way to know
  for sure whether your premium rates are now
  higher, lower or remain unchanged.
• 10. New employment laws
• Most small business owners know that the world of
  employment rules and regulations can be a
  complicated one, and the only way to know for
  sure if any new laws affect you and your
  employees is to check with your local employment
  specialists or payroll providers.

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• Staying abreast of payroll and its many complex
  laws can be tricky, but provided you get your
  information from a reputable source and consult
  with professionals every step of the way, theres
  no reason why you shouldnt remain compliant and
  keep your employees content at the same time.
• Apollo Payroll is one of the premier small
  business payroll companies in Miami Beach and
  Coral Gables. Apollo Payroll is dedicated to
  delivering expert advice, responsive service, and
  highly accurate payroll processing and reporting
  to ensure the success and growth of the business
  that we serve. Our services include comprehensive
  payroll service in Homestead and other cities in
  Miami-Dade County, employee background check and
  group health insurance in Miami Coral Gables.