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Precision Payroll of America, LLC
630.887.3156
877.941.1040
December 20, 2013
PPA Press
by Precision Payroll of America, LLC

Holiday and Taxes:
The most wonderful time of the year! 

It’s that time of year again! Yes, the holiday season is upon us—and that also means that tax time is approaching. While the latter may not be your favorite, at Precision Payroll, we help make it as painless as possible.
 
With tax time ahead of us, here are some requirements you’ll want to know about.
  • Federal:
    • There are new wage limits for Social Security taxes: $117,000 is the threshold for the 6.2% tax (last year the threshold was $113,700).
More Federal, State, and Unemployment requirements...
Health Care Reform:
Small Business Tax Credit 2014

The Small Business Health Care Tax Credit is intended to encourage small employers to offer health insurance to their employees. The maximum tax credit was 35% of the employer’s premium payments made on behalf of employees in tax years 2010 – 2013. However, this credit amount will increase to 50% of the employer’s premium payments beginning in the 2014 tax year. Learn more
Employee Handbooks:
2014 Update

Your employee handbook is an important communication between you and your employees.  Contact Leslie Day, Precision HR, at lday@myprecisionhr.com to update your handbook for the new year!
First-Class Mail:
January 2014 Increase


The United States Postal Service has announced proposed price changes, including an increase in the price of a First-Class Mail single-piece letter from 46 cents to 49 cents.

Highlights of the new single-piece First-Class Mail pricing, effective January 26, 2014, include:
  • Letters (1 oz.) - 3-cent increase to 49 cents
  • Letters additional ounces - 1-cent increase to 21 cents
  • Letters to all international destinations (1 oz.) - $1.15
  • Postcards - 1-cent increase to 34 cents.

Tom Sodeika, President & CEOMessage from the CEO and President:
 
To our Clients, Vendors, Partners and Friends:
We wish you peace and joy during this Christmas season. We are grateful to have you in our lives and sharing the journey to a brighter tomorrow. Be sure this season to take a moment to live, love and laugh. The hustle and bustle and pace of life sometimes shorts us of opportunities to enjoy. Thank you and the happiest of holidays to you!

At your service,
Tom Sodeika

   


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