As the seasons turn, so, too, are we at Precision Payroll evolving to provide our clients with business solutions—payroll and beyond—that are forward-thinking, yet delivered with a personal touch.
As part of this promise, we are enhancing and upgrading our software to provide a client interface that is even more user-friendly and efficient. We’ve begun the transition to this new platform with some clients, and will be migrating each client on an individual basis—with the goal of providing a seamless transition.
As always, one of our priorities is keeping you abreast of changes that may impact your business. One of these is complying with ACA reporting requirements that are now mandatory. In this issue, we outline all the details and how we can assist you in staying up-to-code, so to speak.
Since we’re approaching the end of 2015, it’s time to prepare for tax season. Keep an eye out for our comprehensive year-end guide with step-by-step instructions, which will be released soon.
All the best for your fourth quarter,
Tom Sodeika, President & CEO
Precision has you covered
With the Affordable Care Act’s (ACA) new reporting requirements that are mandated starting this year, Precision Payroll offers a suite of services to help clients understand and meet these requirements.
Starting in 2015, employers with 50 or more FTE (full-time equivalent) employees were required by the ACA to offer qualifying health care coverage or potentially face penalties. To ensure compliance, employers are responsible for reporting under sections 6055 and 6056. Employers with fewer than 50 employees who self-insure also must report.
With Precision Payroll’s ACA report (only $50 to run), you will receive a total employee count, their status (full-time or part-time) and the full-time equivalent calculations. Precision began offering this aid for compliance testing and affordability analysis in 2014.
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For more information, please check out the ACA page on our website
or contact Tom Sodeika, President and CEO, firstname.lastname@example.org