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2017 Payroll Tax Update: Understanding New Changes to W-2s, Taxable Wage Limits, Benefit Maximums, Overtime, ACA Forms, and More - On-Demand

2017 Payroll Tax Update: W-2 Changes, Taxable Wage Limits, Benefit Maximums, Overtime, ACA Forms - On-Demand

Product Code: YPWA020217D

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2017 Payroll Tax Update: Understanding New Changes to W-2s, Taxable Wage Limits, Benefit Maximums, Overtime, ACA Forms, and More - On-Demand

Webinar now available On-Demand.

How can you be sure you’re compliant with IRS, Affordable Care Act (ACA), and other regulations? Right now, ensuring payroll tax requirements are met for 2017 is a top priority for HR and compensation professionals. And there’s a ton to keep track of: 

  • Under the ACA, employers’ payroll systems need to be equipped to handle employee-share withholdings and to record payments on an information return.
  • As paid sick leave mandates continue to take the nation by storm, organizations must ensure that their payroll systems are equipped to track hours (even for salaried workers) and accrue appropriate minimum sick leave. 
  • The timely and accurate reporting of payroll tax returns is critical. Failure to file 
  • W-2s and to give them to workers can result in per-item penalties from $30 to $100. Additionally, continued failure to file 1099s and 1096s can result in total penalties of between $250,000 and $1.5 million! 
  • You need to be able to accurately factor bonuses, holiday gifts, and other compensation factor into annualized payroll taxes—or face steep IRS penalties. 
  • The accurate calculation of nondiscretionary bonuses to properly account for overtime pay is crucial—and frequently overlooked. Getting it wrong can result in costly audits for overtime compliance as well as payroll tax compliance. 

Don’t get caught unprepared. Use this on-demand webinar to learn how to make sure all your 2017 payroll tax administration practices and forms comply with current requirements. 

You’ll learn: 

  • The impact of tax rate changes 
  • What “affordable” means under the ACA and what’s considered adequate coverage—these affect payroll, as how much you can charge your workers is limited. 
  • Unemployment insurance rates, federal and state, income tax withholding rates, and many other withholding rates, which change each year, and sometimes more than once 
  • Where to get quick information on state SUTA and SIT rates, as well as other rules in the states where you operate 
  • How to communicate with your employees about payroll changes 
  • How the new DOL requirements affect your workers, and your budget  
  • How much SIT or FIT withholdings are rising 
  • How bonuses are taxed 
  • And much more! 

About Your Presenter:

Elizabeth BystromElizabeth Bystrom
Owner, Founder
Elizabeth Bystrom CPA, Ltd. 

Elizabeth Bystrom CPA, Ltd. is a small business built on relationships. Ms. Bystrom’s technical specialties include small business consulting and individual income tax.  Before building her own business, Ms. Bystrom worked for some of the brightest minds available at Redpath & Co.  During her ten years with Redpath & Co, she worked in widely various departments, including: compilation and review, sales tax and payroll tax compliance, payroll research, and management of bookkeeping and accounting staff. Working in the corporate tax department brought Ms. Bystrom to both accounting consulting with corporate tax clients, as well as corporate income tax. Her final five years with Redpath & Co. were spent in the individual income tax department, working closely experienced tax partners.

Ms. Bystrom built her own business to enable her to achieve a work/life balance that suited her family. She is licensed as a Certified Public Accountant in the state of Minnesota, and spokesperson for the MNCPA.

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