Welcome 2013, Tax Issues, and Minimum Wage Hikes!

Happy New Year! I hope you all enjoyed the holidays. 2013 didn't start off slowly, that's for sure -- fiscal cliff anyone? As I'm sure you all know, late last night Congress passed the American Taxpayer Relief Act, designed to avoid the dreaded fiscal cliff. What does this mean for employers? In short, lots of payroll updates and tax issues! 

Now, anyone who knows me knows I'm not the biggest fan of anything math or numbers related (apologies to my father, a CPA!), and I always defer any tax issues to our corporate/tax attorneys. I did, however, run across across a couple of great articles on the payroll/tax issues, and I thought I'd share with our readers.

First, Forbes published 4 Important 2013 Payroll Updates & Tax Changes for Small Business. It explains important changes with federal income withholding tax, social security, and Medicare that must be dealt with ASAP in payroll. Click here for the article.

Next, local CPA firm Markham Norton Mosteller Wright & Company (a new HR Law & Solutions sponsor!) posted a very detailed update on its blog today. Though much of the post is geared towards individual tax provisions, it addresses many of the business provisions as well. Click here for the post

If you have specific tax questions, please let me know, and I can put you in touch with one of our corporate/tax attorneys.  In addition to the tax/payroll updates, remember the minimum wage in Florida went up on January 1.  Make sure you've adjusted payroll accordingly, and posted the updated notices. Check out my prior post (click here) for more information.

Best wishes to all of you for a healthy, prosperous 2013!

Reminder: Florida's Minimum Wage to Increase in 2013

Can you believe we're less than a month away from 2013? I can't! 

One of the things that will change for Florida employers is the minimum wage, which is set to increase again in 2013, rising from $7.67 to $7.79 per hour. The minimum wage for tipped employees is rising as well, from $4.65 to $4.77 per hour.

The increase is effective beginning January 1, 2013. Employers should make sure payroll is adjusted appropriately. Employers should also update their minimum wage posters, which must be posted in a conspicuous and accessible place. You can download the English version of the new poster here, and the Spanish version here.

In other news, we've been hard at work behind-the-scenes planning the 2013 HR Law & Solutions seminar. We hope to make it even bigger and better than 2012 -- and that's a tall order considering the 2012 seminar ended with a 20th Anniversary champagne & Norman Love celebration! 

Check back later this week for more information.  As always, if you have any suggestions or requests for things you'd like to see at our 2013 seminar, feel free to comment here, or you can call or email me -- I'd love to hear them.

 

Reminder: Florida's Minimum Wage Increases Today!

Happy New Year!  Can you believe it is 2012?  Employees who make minimum wage can ring in 2012 by celebrating their 36-cent per hour raise.  That's right, as we told you back in November, Florida's minimum wage increased to $7.67, effective today.  The minimum wage for tipped employees also rises 36-cents, to $4.65. 

Employers must ensure they make the appropriate payroll changes to comply with this change.  Also, remember to switch out your 2011 minimum wage posters for the 2012 versions.  If you have not already done so, you may download the 2012 Florida version in English here, and in Spanish here.  The federal minimum wage poster has not changed, but still must be posted.  It can be downloaded here.

Best wishes for a happy, prosperous 2012!

Florida's Minimum Wage Set to Increase in 2012

Florida's minimum wage is set to increase to $7.67 starting January 1, 2012.  This 36-cent increase follows on the heels of a 6-cent increase (to $7.31) set in June 2011.  The minimum wage for tipped employees will also rise 36-cents in the new year, from $4.29 to $4.65.

Employers should make sure all employees are paid appropriately beginning January 1.  Additionally, employers must post the proper Florida and federal minimum wage posters.  You can download the 2012 Florida poster in English here, and in Spanish here.  The federal minimum wage poster can be downloaded here.