Oregon ORWBF is not Workers Compensation Insurance
Time 4 Payroll would like to remind all employers in Oregon that, although you are required to be covered under Workers Compensation Insurance, the ORWBF that you see in payroll reports and paystubs is NOT workers compensation insurance. ORWBF is simply a payroll tax that is applied to all employees that are required to be […]
Is it okay for HR documentation to be digital only?
Recently, a client asked us if HR documentation can be scanned and originals shredded. Since we at Time 4 Payroll like to do our part by being as paperless as possible, we thought this was a great question. Not finding any rules on the IRS, OR BOLI and WA L&I websites, we called BOLI and […]
Minimum wages, Social Security wage limits, Pension Plan limits – going up in 2012!
Several states have announced increases to their minimum wages effective January 1, 2012. These include: Oregon – $8.80 Washington – $9.04 The Social Security Administration has announced that the Social Security wage limit for 2012 has increased to $110,100 The IRS has released Pension Plan limitations for 2012: The 401k limit has increased from $16,500 […]
Did you take advantage of the HIRE Act in 2010?
If you took advantage of the HIRE Act tax credit last year, you may be eligible for the HIRE Retention credit on your 2011 business tax return. The HIRE retention credit is a general business credit to encourage retention of new hires and will be claimed on the employers income tax return. The amount of […]