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©SHRM ©SHRM 2014 What’s New at SHRM: Q Bhavna Dave, PHR Director of Talent SHRM member since 2005
©SHRM 2015 New OSHA Reporting Requirements Took Effect Jan. 1, Employers will still report all fatalities to OSHA within eight hours, but will also have to report each work-related inpatient hospitalization, as well as amputations and losses of an eye, to OSHA within 24 hours. The reporting regulations affect all employers covered by OSHA, even those who are partially exempt from maintaining injury and illness records. Three options for reporting incidents: By telephone to the nearest OSHA Area Office during normal business hours. By telephone to the 24-hour OSHA hotline ( OSHA or ). Electronically, via a web portal which is not yet available.
©SHRM 2015 Income Subject to FICA Payroll Tax Increases in 2015 Earnings up to $118,500 hit by Social Security FICA tax; revise payroll systems by Jan. 1 3 By Jan. 1, U.S. employers should have: Adjusted their payroll systems to account for the higher taxable maximum under the Social Security portion of FICA. Notified affected employees that more of their paychecks will be subject to FICA. Withholding Rates Unchanged For 2015: The portion of the Social Security FICA tax that employees pay remains unchanged at the 6.2% withholding rate up to the taxable maximum. Correspondingly, the portion of the tax that employers cover also remains at 6.2% of employee wages up to the taxable maximum. This amounts to a total Social Security FICA tax of 12.4%, paid on income up to $118,500. For more info: social-security-tax-2015.aspx
©SHRM 2015 For 2015, FSA Contribution Limit Rises to $2,550 Adoption benefit limits, PCORI fees, among other adjustments 4 The annual dollar limit on employee contributions to employer-sponsored health care FSAs rises to $2,550 in 2015, up from $2,500 in The annual limit for dependent care FSAs or dependent care assistance plans (DCAPs) will remain at $5,000 for qualifying individuals and those who are married and file a joint return, and will remain at $2,500 for those who are married and file separate returns. The monthly limit for qualified transportation benefits for 2015 revert to $130/month for transit passes and $250/month for qualified parking. The available adoption credit for 2015 begins to phase out for taxpayers with modified adjusted gross income in excess of $201,010 and is completely phased out for taxpayers with modified adjusted gross income of $241,010 or more. For more info: contribution-limit-2015.aspx
©SHRM 2015 SHRM’s New Competency Certification SHRM Certified Professional (SHRM-CP) and SHRM Senior Certified Professional (SHRM-SCP) are based on a single, comprehensive Body of Competency and Knowledge (BoCK) and are relevant worldwide, giving professionals the recognition and flexibility to use their knowledge, skills, and competencies anywhere their career takes them. SHRM-CP and SHRM-SCP test HR knowledge as well as competencies and their application to ensure the professional’s ability to demonstrate what they know, and what they can do with their knowledge in the variety of situations they encounter. Using a global definition of HR experience for exam eligibility, one that is not based on exempt- or non-exempt status Questions? 5
©SHRM 2015 Prepare for Winter Weather Resources such as: Protect Against Winter Weather Hazards, Storm Threats Winter Weather Advisory: Work Safely in the Snow Disaster Prep and Response Resource Page Reporting-Time Pay: A Wage & Hour Winter Wonderland Winter Wellness Woes: A Flurry of Disability Claims 6
©SHRM 2015 New Post-Election Overview 7
©SHRM 2015 Expert HR Advisors: Ask Us Anything! Contact the HR Knowledge Center at – , option 5 SHRM » HR Answers » Ask an HR Advisor 8
©SHRM 2015 SHRM Certification Preparation SHRM Learning System is the #1 study tool Determine your current knowledge and identify areas for improvement. The results are weighted against topics on the SHRM-CP and SHRM-SCP certification exams to help you determine your strengths and where you need to improve in each of the five modules. The five learning modules are available in print and e-reader format. Test your situational judgment, knowledge and comprehension with more than 1,000 questions. Online or printed flashcards reinforce your memory of key terms and concepts. 9
©SHRM 2015 Upcoming SHRM Conferences LAW & LEGISLATIVE CONFERENCE March 23-25, 2015; Washington, D.C. TALENT MANAGEMENT CONFERENCE & EXPOSITION April 27-29, 2015; San Diego, CA ANNUAL CONFERENCE & EXPOSITION June 28 - July 1, 2015; Las Vegas, NV Keynote speakers: Dr. Oz, Sheryl Sandberg, Marcus Buckingham 10
©SHRM 2015©SHRM We’ve run the numbers for you: HR Magazine$70 Reading 3 of the more than 50 research reports$ Participation in 12 webcasts from other organizations$1,500 Savings by not having to pay some consultant feesYour estimate Full access to SHRM sample forms, policies, how-to guides and presentations $300 SHRM Membership Value = $ or higher You Pay Only $190 for 1 year full professional membership
©SHRM What’s New at SHRM: Q Bhavna Dave, PHR Director of Talent SHRM member since 2005.
©SHRM ©SHRM 2014 What’s New at SHRM: Q Bhavna Dave, PHR Director of Talent SHRM member since 2005.
©SHRM ©SHRM 2014 What’s New at SHRM: Q Bhavna Dave, SHRM-CP VP of HR SHRM member since 2005.
©SHRM ©SHRM 2014 What’s New at SHRM: Q Bhavna Dave Director of Talent SHRM member since 2005.
©SHRM What’s New at SHRM: Q Bhavna Dave, SHRM-CP VP of HR SHRM member since 2005.
Q What’s New at SHRM. 2 Keep Up with Healthcare Reform News With SHRM’s Toolkit To avoid penalties under the Patient Protection and Affordable.
©SHRM 2012 What’s New at SHRM? Q ©SHRM SHRM Annual Conference Keynote Speakers: Condoleezza Rice, Jim Collins, and Tom Brokaw Entertainment:
©SHRM 2011 What’s New at SHRM? Q ©SHRM SHRM Annual Conference Mark your calendars now for the 2012 SHRM Annual Conference in Atlanta!
Taxes and Your Paycheck Career and Financial Management 2.
Copyright © 2008 Delmar Learning. All rights reserved. Chapter 18 Financial Management of the Medical Practice.
CHAPTER 9 Withholding, Estimated Payments & Payroll Taxes Income Tax Fundamentals 2011 Gerald E. Whittenburg Martha Altus-Buller Student’s Copy 2011 Cengage.
Copyright © 2015 McGraw-Hill Education. All rights reserved. No reproduction or distribution without the prior written consent of McGraw-Hill Education.
Your Cafeteria Plan Benefit Cal State San Marcos Foundation Select F5 To Run Slide Show.
Income Tax Withholding Unit 5 Chapter 4 in Your Textbooks.
1 Important Information for 2011 Returns American Opportunity Tax Credit Lifetime Learning Tax Credit Tuition and Fees Deduction Qualified Tuition Programs.
CHAPTER 9 Withholding, Estimated Payments & Payroll Taxes 2014 Cengage Learning Income Tax Fundamentals 2014 Student Slides Gerald E. Whittenburg Martha.
CHAPTER 12 PAYROLL ACCOUNTING Section 12-2 Payroll Deductions Section 12-3 Payroll Records.
Copyright ©2004 Pearson Education, Inc. All rights reserved. Chapter 4 Using Tax Concepts for Planning.
Goodwill-Easter Seals 2016 Annual Open Enrollment Flexible Spending Account.
© 2010 Prentice Hall Business Publishing, College Accounting: A Practical Approach, 11e by Slater Calculating Pay and Payroll Taxes: The Beginning of the.
©The McGraw-Hill Companies, Inc. 2008McGraw-Hill/Irwin Chapter 2 Expanded Tax Formula, Forms 1040A and 1040 and Basic Concepts “Taxes: Of life's two certainties,
Pay and Benefits With pay and benefits comes Taxes.
Payroll. SALARY - The money paid for employee services. PAY PERIOD - The period covered by a salary payment (every week, twice a month, once a month).
Take Charge. Ability To Pay – a concept of tax fairness that people with different amounts of wealth or different amounts of income should pay taxes.
CHAPTER 9 Withholding, Estimated Payments & Payroll Taxes 2013 Cengage Learning Income Tax Fundamentals 2013 Student Slides Gerald E. Whittenburg Martha.
Income and Taxes. So… You graduated high school and college… You achieved a degree… You have a solid resume… You rocked on your interview… And.
CHAPTER 13 Preparing Payroll Records. OBJECTIVES: n Define accounting terms related to payroll records n Identify accounting practices related to payroll.
Chapter 13 Preparing Payroll Records. Salary The money paid for employee services.
Serve the Professional, Advance the Profession SHRM Student Member Benefits Presented by SHRM Student Programs Updated April 2007.
Chapter 12 Preparing Payroll Time Cards. 2 L 12-1 Paying Employees page 341 Money paid for employee services is called a salary. The period covered by.
Income Tax Fundamentals 2010 Gerald E. Whittenburg Martha Altus-Buller Student’s Copy 2010 Cengage Learning.
Expanded Medicare taxes and other changes make planning critical Presented by: > [Insert your logo here] Health care act TAX OVERVIEW – INDIVIDUALS.
Human Resources, Compensation and Benefits 2009 Open Enrollment Flexible Spending Accounts More Take-Home Pay Through Tax Savings.
1 Flexible Spending Accounts to Include Dependent Care San Mateo County Paul Hackleman.
TAX VOCABULARY. ability to pay - A concept of tax fairness that states that people with different amounts of wealth or different amounts of income should.
Taxes. The Federal Government Dollar – Where it Comes From.
*2011 IRS forms are displayed in this chapter because 2012 forms were not available at the time of main text publication IRS forms can be obtained.
CalPERS Benefits and Resources Designed for BAM. Agenda Website tips Regional Offices CalPERS Retirement Additional Information & Resources.
Tax Forms & Deductions. Net Income vs. Gross Income Gross income is the total amount a worker is paid before any required or voluntary deductions are.
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Agenda Open Enrollment Overview Flexible Spending Account (FSA) – Overview – Eligibility – Types of Accounts – Savings Example – Plan Year – Payroll Deductions.
G1 © Family Economics & Financial Education – Revised March 2008 – Paychecks and Taxes Unit – Understanding Your Paycheck Funded by a grant from.
If you were the owner of a small business, how much would you pay your workers to work overtime? Why? What are some methods you would take to keep.
1 Important Information for 2012 Returns American Opportunity Tax Credit Lifetime Learning Tax Credit Tuition and Fees Deduction Qualified Tuition Programs.
Payroll Liabilities and Tax Records Making Accounting Relevant Federal, state, and local governments pass tax laws in order to generate revenue for government.
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10-1 © 2010 The McGraw-Hill Companies, Inc. All rights reserved.
Teens lesson two: making money 03/08. the career planning process Whether you are seeking your first job, or considering changing to a different field,
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