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Did you know? Paycor understands that this is a busy time of year for you. During tax season, use CPA Care as a resource to help you find information on your clients while preparing our mutual clients’ corporate tax returns.
February 2012
Important DatesFebruary 10- Employees who earned more than $20 in tips during January must report them to their employers.
February 15 - Furnish Forms 1099-B, 1099-S and certain Forms 1099-MISC to recipients.
February 20 - Everyone. Federal Holiday (Washington's Birthday). Paycor Open.
February 28 - File information returns (Forms 1098, 1099 and W-2G) for payments made during 2011.
February 29 - File Form W-3 with Copy A of all Forms W-2 issued for 2011. File Form 8027 if you are a large food or beverage establishment. File Form 2290 and pay the tax for vehicles first used in January.
For more information contact:
CPA Care [email protected]/cpacare
Stay connected. Follow Paycor CPACare on Twitter and Facebook for payroll and tax updates.
SM
SM
Custom Web Reporting is a great tool to have for audits, benefit plan reports, and fiscal year reporting.
- Michele Stoy, CPA Care Advocate
This year's SOC 1 (formerly SAS 70) is now complete.For a copy of the current year’s report, contact CPA Care.
Save Time with Paycor's Custom Web Reporting
Paycor has developed a product with you in mind. It is a simple and powerful tool that combines all of your Paycor clients’ payroll reports in one place and allows you to create customized reports in the format you like to use.
Access Information for all of your Paycor ClientsThis time saving feature allows you to create one report template and pick for which clients you would like to view the report. Reports can be customized to view any information you or your clients will need.
Create Fiscal Year ReportsCustom Web Reporting allows you to pick any customized date range to run a report. This means you can easily create reports for clients whose fiscal year is different than the calendar year. This function also makes report creation for auditing purposes much easier.
Export Information into Excel FormatOnce reports are created, they can be exported into various electronic file formats, including Excel, PDF, or HTML. This gives you the flexibility to make additions to reports as well as send reports to other users.
For more information about this product, go to http://www.paycor.com/products/reporting/custom-web-reporting or contact your Account Manager.
What’s New for 2012?• The employee tax rate for Social Security is 4.2 percent on wages paid and tips received before March 1, 2012; the tax rate increases to 6.2 percent after February 29, 2012. The employer tax rate remains unchanged at 6.2 percent.
• Employers must use new Form 8822-B, Change of Address—Business, for any address change.
• The Vow to Hire Heroes Act of 2011 is a new law which provides an expanded work opportunity tax credit to businesses that hire eligible, unemployed veterans.
Custom Web Reporting Can Help You Determine Eligible Tax Credits!
Small Business Health Care Tax CreditThis credit helps small businesses and small tax-exempt organizations afford the cost of covering their employees’ health insurance. To be eligible for the credit the company must meet all three of the following requirements:
1. Cover at least 50 percent of the cost of single (not family) health care coverage for each employee
2. Have fewer than 25 full-time equivalent employees3. The employees must have average wages of less than $50,000 a year
To determine if a company qualifies for the maximum credit of 35 percent for small business employers and 25 percent for small tax-exempt employers, you can pull a quick Excel report with this data in Custom Web Reporting.
New Hire Retention CreditThe HIRE retention credit is a general business credit to encourage retention of new hires from February 3, 2010 and before January 1, 2011. To be eligible for the credit the employer must:
1. Have retained the qualified employee for 52 consecutive weeks 2. The qualified employees’ wages for such employment during the last 26
weeks must equal at least 80 percent of wages for the first 26 weeks
The amount of the credit is the lesser of $1000 or 6.2 percent of wages (as defined for income tax withholding purposes) paid by the employer to the retained qualified employee during the 52 consecutive week period. The credit is claimed in the tax year in which the first 52 consecutive week period ends. In Custom Web Reporting, you can pull a report to show hire dates with employee wages during any time period to determine employee qualification.
These are just two recent tax credits for which Custom Web Reporting helps you to determine your clients’ eligibility, think of all the other tax credits you could easily determine by using this tool!
How Can CPA Care Help?
Contact your CPA Care
Advocate to receive an
Organizational Summary
or Year-to-Date Report to
show officer's compensation
for your clients' Form 1120
and 1120S.
SM
Prompt and Personal Service Benefits Accountant at Year-End
Becky Foster, an accountant with Hayes, Neltner & Schmidt, supports five CPAs at her firm, and the firm has 50 clients who use Paycor payroll and HR solutions. Yet she doesn’t have 50 specialists’ names to remember – just one.
Becky works through her dedicated CPA Care Advocate for all of her questions, and her CPA Care Advocate does the work of troubleshooting and contacting others if needed to assist Becky. “Quick turnaround time and having one point of contact is important to me all year long, but it’s especially valuable to me during year end,” says Becky, who estimates that she emails CPA Care about once a day during tax season.
CPA Care Year–End Services
• Dedicated CPA Care Advocate available• Complimentary custom reporting• Immediate access to information with
Online Reporting
The Unexpected is Expected – But Having One Point of Contact Helps
Problems surface and time-sensitive issues occur – especially at year end. “I have some clients who use a different payroll provider, and it’s difficult to get information since I don’t have a relationship with one person,” she said. The personal relationship Becky has with her Paycor CPA Care Advocate has benefited her many times over!
Contact CPA Care today to learn how Paycor can make your job easier!
Payroll and Tax Deduction GuideWe understand that payroll and tax deductions can be a complicated subject, so we created this simple and fun infographic with your clients in mind. An infographic is a creative way to share information in a clear and comprehensible way. Providing this resource to share with your clients is another way we make your job easier.
Check out the complete infographic at http://www.paycor.com/infographic/payrolltaxdeductions.
CPA Care will help you meet the 1120 and 1120S filing deadline!Paycor’s CPA Care Advocates are standing by to assist you during this busy time of year. We have created a resource
to help you obtain salary and wage information you may find helpful while preparing our mutual clients’ corporate tax returns.
Visit www.paycor.com/cpa/1120 or contact CPA Care.
Custom Web Reporting Can Help You Determine Eligible Tax Credits!
Small Business Health Care Tax CreditThis credit helps small businesses and small tax-exempt organizations afford the cost of covering their employees’ health insurance. To be eligible for the credit the company must meet all three of the following requirements:
1. Cover at least 50 percent of the cost of single (not family) health care coverage for each employee
2. Have fewer than 25 full-time equivalent employees3. The employees must have average wages of less than $50,000 a year
To determine if a company qualifies for the maximum credit of 35 percent for small business employers and 25 percent for small tax-exempt employers, you can pull a quick Excel report with this data in Custom Web Reporting.
New Hire Retention CreditThe HIRE retention credit is a general business credit to encourage retention of new hires from February 3, 2010 and before January 1, 2011. To be eligible for the credit the employer must:
1. Have retained the qualified employee for 52 consecutive weeks 2. The qualified employees’ wages for such employment during the last 26
weeks must equal at least 80 percent of wages for the first 26 weeks
The amount of the credit is the lesser of $1000 or 6.2 percent of wages (as defined for income tax withholding purposes) paid by the employer to the retained qualified employee during the 52 consecutive week period. The credit is claimed in the tax year in which the first 52 consecutive week period ends. In Custom Web Reporting, you can pull a report to show hire dates with employee wages during any time period to determine employee qualification.
These are just two recent tax credits for which Custom Web Reporting helps you to determine your clients’ eligibility, think of all the other tax credits you could easily determine by using this tool!
How Can CPA Care Help?
Contact your CPA Care
Advocate to receive an
Organizational Summary
or Year-to-Date Report to
show officer's compensation
for your clients' Form 1120
and 1120S.
SM
Prompt and Personal Service Benefits Accountant at Year-End
Becky Foster, an accountant with Hayes, Neltner & Schmidt, supports five CPAs at her firm, and the firm has 50 clients who use Paycor payroll and HR solutions. Yet she doesn’t have 50 specialists’ names to remember – just one.
Becky works through her dedicated CPA Care Advocate for all of her questions, and her CPA Care Advocate does the work of troubleshooting and contacting others if needed to assist Becky. “Quick turnaround time and having one point of contact is important to me all year long, but it’s especially valuable to me during year end,” says Becky, who estimates that she emails CPA Care about once a day during tax season.
CPA Care Year–End Services
• Dedicated CPA Care Advocate available• Complimentary custom reporting• Immediate access to information with
Online Reporting
The Unexpected is Expected – But Having One Point of Contact Helps
Problems surface and time-sensitive issues occur – especially at year end. “I have some clients who use a different payroll provider, and it’s difficult to get information since I don’t have a relationship with one person,” she said. The personal relationship Becky has with her Paycor CPA Care Advocate has benefited her many times over!
Contact CPA Care today to learn how Paycor can make your job easier!
Payroll and Tax Deduction GuideWe understand that payroll and tax deductions can be a complicated subject, so we created this simple and fun infographic with your clients in mind. An infographic is a creative way to share information in a clear and comprehensible way. Providing this resource to share with your clients is another way we make your job easier.
Check out the complete infographic at http://www.paycor.com/infographic/payrolltaxdeductions.
CPA Care will help you meet the 1120 and 1120S filing deadline!Paycor’s CPA Care Advocates are standing by to assist you during this busy time of year. We have created a resource
to help you obtain salary and wage information you may find helpful while preparing our mutual clients’ corporate tax returns.
Visit www.paycor.com/cpa/1120 or contact CPA Care.
Did you know? Paycor understands that this is a busy time of year for you. During tax season, use CPA Care as a resource to help you find information on your clients while preparing our mutual clients’ corporate tax returns.
February 2012
Important DatesFebruary 10- Employees who earned more than $20 in tips during January must report them to their employers.
February 15 - Furnish Forms 1099-B, 1099-S and certain Forms 1099-MISC to recipients.
February 20 - Everyone. Federal Holiday (Washington's Birthday). Paycor Open.
February 28 - File information returns (Forms 1098, 1099 and W-2G) for payments made during 2011.
February 29 - File Form W-3 with Copy A of all Forms W-2 issued for 2011. File Form 8027 if you are a large food or beverage establishment. File Form 2290 and pay the tax for vehicles first used in January.
For more information contact:
CPA Care [email protected]/cpacare
Stay connected. Follow Paycor CPACare on Twitter and Facebook for payroll and tax updates.
SM
SM
Custom Web Reporting is a great tool to have for audits, benefit plan reports, and fiscal year reporting.
- Michele Stoy, CPA Care Advocate
This year's SOC 1 (formerly SAS 70) is now complete.For a copy of the current year’s report, contact CPA Care.
Save Time with Paycor's Custom Web Reporting
Paycor has developed a product with you in mind. It is a simple and powerful tool that combines all of your Paycor clients’ payroll reports in one place and allows you to create customized reports in the format you like to use.
Access Information for all of your Paycor ClientsThis time saving feature allows you to create one report template and pick for which clients you would like to view the report. Reports can be customized to view any information you or your clients will need.
Create Fiscal Year ReportsCustom Web Reporting allows you to pick any customized date range to run a report. This means you can easily create reports for clients whose fiscal year is different than the calendar year. This function also makes report creation for auditing purposes much easier.
Export Information into Excel FormatOnce reports are created, they can be exported into various electronic file formats, including Excel, PDF, or HTML. This gives you the flexibility to make additions to reports as well as send reports to other users.
For more information about this product, go to http://www.paycor.com/products/reporting/custom-web-reporting or contact your Account Manager.
What’s New for 2012?• The employee tax rate for Social Security is 4.2 percent on wages paid and tips received before March 1, 2012; the tax rate increases to 6.2 percent after February 29, 2012. The employer tax rate remains unchanged at 6.2 percent.
• Employers must use new Form 8822-B, Change of Address—Business, for any address change.
• The Vow to Hire Heroes Act of 2011 is a new law which provides an expanded work opportunity tax credit to businesses that hire eligible, unemployed veterans.
