{"id":207,"date":"2012-02-16T17:38:34","date_gmt":"2012-02-16T17:38:34","guid":{"rendered":"http:\/\/esipayroll.com\/wordpress\/?page_id=207"},"modified":"2012-02-17T20:36:17","modified_gmt":"2012-02-17T20:36:17","slug":"tax-advisory","status":"publish","type":"page","link":"https:\/\/esipayroll.com\/wordpress\/news-information\/tax-advisory\/","title":{"rendered":"Tax Advisory"},"content":{"rendered":"

Employer Solutions, Inc.<\/span><\/strong><\/h4>\n

<\/strong>14330 South Outer Forty Rd.<\/span><\/h4>\n

Chesterfield, MO\u00a0 63017<\/span><\/h4>\n

(314) 514-0700\u00a0 FAX (314) 514-0088<\/span><\/h4>\n

esi@esipayroll.com<\/a> \u00a0\u00a0\u00a0\u00a0 <\/span>WWW.ESIPAYROLL.COM<\/span><\/a><\/h4>\n

\u00a0<\/span><\/p>\n

2011\/2012 TAX ADVISORY <\/span><\/strong><\/p>\n

\u00a0<\/span><\/strong><\/p>\n

** YEAR END SPECIAL PAYROLLS, ADJUSTMENTS AND BONUSES SHOULD BE RECEIVED BY 12\/15\/11FOR PROCESSING**<\/span><\/strong><\/p>\n

\u00a0<\/span><\/p>\n

For 2011 processing, the following are taxable issues that should be reported if they apply:<\/span><\/strong><\/p>\n

\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0 \u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0 <\/span><\/p>\n\n\n\n\n
Group Term Life<\/span><\/td>\nCertain Deferred Compensation Plans<\/span><\/td>\nThird Party Sick Pay<\/span><\/td>\n<\/tr>\n
Taxable Fringe Benefits<\/span><\/td>\nPersonal Use of Company Vehicle<\/span><\/td>\n\u00a0<\/span><\/span><\/td>\n<\/tr>\n<\/tbody>\n<\/table>\n

** INFORMATION ABOVE MUST BE RECEIVED BY 12\/15\/2011 TO ASSURE TIMELY PROCESSING ** <\/span><\/span><\/strong><\/p>\n

\u00a0<\/span><\/span><\/strong><\/p>\n

Miscellaneous W-2 items:<\/strong><\/span><\/p>\n

Identify any employee who participates in a Company Qualified Pension Plan.<\/span><\/p>\n

Have your employees verify social security numbers and addresses as they appear on their checks.<\/span><\/p>\n

\u00a0<\/span><\/strong><\/p>\n

Notification required for 2012 payroll processing:<\/span><\/strong><\/p>\n

*Any changes in your 2012 Federal Tax Deposit Requirements (IRS Notice CP-136) and\/or state. <\/span><\/p>\n

*Changes on withholding allowances, W-4 forms, provided by employees.\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0 \u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0 \u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0 \u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0 \u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0 .<\/span><\/p>\n\n\n\n\n\n\n\n\n\n\n\n
Tax rate and limit changes for:<\/strong>\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0 <\/span><\/td>\n\n

2011<\/span><\/strong><\/strong><\/span><\/p>\n<\/td>\n

\n

2012<\/span><\/strong><\/strong><\/span><\/p>\n

\u00a0<\/span><\/span><\/p>\n<\/td>\n<\/tr>\n

Medicare 1.45%<\/span><\/td>\n\n

No Max.<\/span><\/p>\n<\/td>\n

\n

No Max<\/span><\/p>\n<\/td>\n<\/tr>\n

FICA\u00a0 6.2%\u00a0\u00a0\u00a0\u00a0 (Pending Legislation)<\/span><\/td>\n\n

$106800<\/span><\/p>\n<\/td>\n

\n

$110100<\/span><\/p>\n<\/td>\n<\/tr>\n

MO Unemployment – Limit\u00a0 <\/span><\/td>\n\n

$13000<\/span><\/p>\n<\/td>\n

\n

$13000<\/span><\/p>\n<\/td>\n<\/tr>\n

IL Unemployment – Limit <\/span><\/td>\n\n

$12740<\/span><\/p>\n<\/td>\n

\n

$13560<\/span><\/p>\n<\/td>\n<\/tr>\n

Federal Unemployment – .6 %<\/span><\/td>\n\n

$7000<\/span><\/p>\n<\/td>\n

\n

$7000<\/span><\/p>\n<\/td>\n<\/tr>\n

401K Individual Limit<\/span><\/td>\n\n

$16500\/$5500<\/span><\/p>\n<\/td>\n

\n

$17000\/$5500<\/span><\/p>\n<\/td>\n<\/tr>\n

Simple Plans<\/span><\/td>\n\n

$11500\/$2500<\/span><\/p>\n<\/td>\n

\n

$11500\/$2500<\/span><\/p>\n<\/td>\n<\/tr>\n

Mileage<\/span><\/td>\n\u00a0\u00a0\u00a0\u00a0\u00a0 01\/01-06\/30\/11\u00a0\u00a0\u00a0 $.55<\/span><\/span><\/p>\n

\u00a0\u00a0 07\/01-12\/31\/11\u00a0\u00a0\u00a0 $.555<\/span><\/span><\/p>\n<\/td>\n

\n

$.555<\/span><\/p>\n<\/td>\n<\/tr>\n<\/tbody>\n<\/table>\n

FUTA CREDIT REDUCTION HAS BEEN IMPOSED:\u00a0 .3% FUTA increase will be calculated on your 940 year end return. (Tax filers, we will collect and remit for you.) <\/span><\/strong><\/p>\n

\u00a0<\/span><\/strong><\/p>\n

Important 2012 State Unemployment Information: <\/span><\/strong><\/p>\n

Please send us the notice your company has received from your State Unemployment Office regarding any change in your 2012 Rate.<\/span><\/p>\n

 <\/p>\n

Fed\/MO minimum wage is the same, $7.25. Illinois minimum wage is the same, $8.25.<\/span><\/p>\n

\u00a0<\/span>Mandated W-2 reporting requirement for cost of employer sponsored group health cost in now optional for 2012.\u00a0\u00a0 This applies to employers with less than 250 employees.<\/span><\/p>\n

CLIENT NOTIFICATION<\/span><\/strong><\/p>\n

** W-2\u2019S WILL BE DISTRIBUTED BEFORE 01\/20\/2012 **<\/strong><\/span><\/span><\/p>\n

PLEASE BE ADVISED THAT MISSING SOCIAL SECURITY NUMBERS OR NAMES THAT DO NOT MATCH WITH THE SOCIAL SECURITY ADMINISTRATION MAY RESULT IN PENALTIES ASSESSED UP TO $50.00 PER OFFENSE.\u00a0 IF YOU WOULD LIKE TO VERIFY THE INFORMATION WE HAVE ON FILE A LIST WILL BE PROVIDED UPON REQUEST!<\/span><\/p>\n","protected":false},"excerpt":{"rendered":"

Employer Solutions, Inc. 14330 South Outer Forty Rd. Chesterfield, MO\u00a0 63017 (314) 514-0700\u00a0 FAX (314) 514-0088 esi@esipayroll.com \u00a0\u00a0\u00a0\u00a0 WWW.ESIPAYROLL.COM \u00a0 2011\/2012 TAX ADVISORY \u00a0 ** YEAR END SPECIAL PAYROLLS, ADJUSTMENTS AND BONUSES SHOULD BE RECEIVED BY 12\/15\/11FOR PROCESSING** \u00a0 For 2011 processing, the following are taxable issues that should be reported if they apply: \u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0 […]<\/p>\n","protected":false},"author":1,"featured_media":0,"parent":10,"menu_order":10,"comment_status":"open","ping_status":"open","template":"","meta":[],"_links":{"self":[{"href":"https:\/\/esipayroll.com\/wordpress\/wp-json\/wp\/v2\/pages\/207"}],"collection":[{"href":"https:\/\/esipayroll.com\/wordpress\/wp-json\/wp\/v2\/pages"}],"about":[{"href":"https:\/\/esipayroll.com\/wordpress\/wp-json\/wp\/v2\/types\/page"}],"author":[{"embeddable":true,"href":"https:\/\/esipayroll.com\/wordpress\/wp-json\/wp\/v2\/users\/1"}],"replies":[{"embeddable":true,"href":"https:\/\/esipayroll.com\/wordpress\/wp-json\/wp\/v2\/comments?post=207"}],"version-history":[{"count":4,"href":"https:\/\/esipayroll.com\/wordpress\/wp-json\/wp\/v2\/pages\/207\/revisions"}],"predecessor-version":[{"id":332,"href":"https:\/\/esipayroll.com\/wordpress\/wp-json\/wp\/v2\/pages\/207\/revisions\/332"}],"up":[{"embeddable":true,"href":"https:\/\/esipayroll.com\/wordpress\/wp-json\/wp\/v2\/pages\/10"}],"wp:attachment":[{"href":"https:\/\/esipayroll.com\/wordpress\/wp-json\/wp\/v2\/media?parent=207"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}