Today's Technology for Tomorrow's Firm.
Issue link: https://cpapracticeadvisor.epubxp.com/i/588168
October 2015 • www.CPAPracticeAdvisor.com 31 Tis is a good time to assess your clients and see where they fall. Is this a ser v ice you ca n prov ide to you r existing customers? Since payments for benef its are processed through employees' paychecks, your clients may appreciate having a streamlined process for handling open enrollment and benefts. As a payroll practitioner, you are the trusted advisor for your clients. You are already familiar with the laws and compliance reg ulations that affect their business. You understand the trick y contractor versus employee debate and can help them navigate which benefts their workers are legally entitled to. Schedule some time with clients to discuss their benefts needs and how your payroll practice can help meet those needs. Have your clients outline their current process for enrolling employees in benefts. Identify those areas where they w ill benef it from having a streamlined process. One of the things to consider is whether your practice can manage benefts administration in the same sofware that you use to process pay- roll. Not only will this save time for your staf, but it also provides a huge beneft to clients. Teir employees will be able to log into one system and make changes to payroll and benefts. I n add it ion to of fer i ng benef it administration services to new and existing clients, consider expanding your oferings to include these other services: • Mobile Payroll Services • Employee Portals • New Hire Reporting • Workers Compensation Administration • Health Care Reform Compliance and Advisory Services • Time and Atendance Management • Retirement Services • Risk Management • Tax & Accounting Services • CFO Consulting Services W hether or not you decide to ofer benef its ad m i n ist rat ion ser v ices, helping your clients prepare for open enrollment season is still a good idea. Tey w ill need to understand how the A fordable Healthcare Act will a f fect t he upcom ing open en rol l- ment for their employees. For ideas on some steps your clients can take to prepa re for open en rol l ment , check out A DP 's latest one-hou r webinar (which can be accessed from ADP.com/backtobiz ). A Year in the Life of a PAYROLL Accountant is sponsored by SurePayroll and ADP Connect to ADP ® At ADP, we're all about connections — connecting accounting professionals like you to the right resources and opportunities to support your frm's objectives: • Give your clients access to big-business payroll and HR solutions by referring them to ADP • Generate more revenue and simplify payroll processing with our customized platform for accountants • Discover other segments to invest in or retire sooner by selling your client payroll base to ADP When you partner with ADP, you also connect to integrated HR products, retirement and more — everything your clients need to help protect and grow their business. For more information, visit adp.com/accountant or call 1-855-408-3751. The ADP logo and ADP are registered trademarks of ADP, LLC. Copyright © 2014 ADP, LLC. HR. Payroll. Benefts. Thinking of Expanding Your Payroll Business? Consider Offering Benefts Administration Services by Taija Sparkman A s you start evaluating your clients and current service oferings, consider ways you can provide additional services to clients, starting with existing clients. With fall around the corner, many small business owners are starting to prepare for open enroll- ment. Some businesses may already have everything in place and are simply waiting for the enrollment period to roll around. Others are still trying to decide between providers and plans for their employees. 2016 MINIMUM WAGE INCREASES BY STATE DID YOU KNOW? Minimum wage increases have gone into effect in several states. Here are the states that have enacted an increase in 2015: • Alaska: $8.75 per hour effective February 24, 2015; $9.75 per hour effective January 1, 2016 • Arizona: $8.05 per hour effective January 1, 2015; adjusted for infation every January 1 • Colorado: $8.23 per hour effective January 1, 2015; $5.21 per hour for tipped employees; adjusted for infation every January 1 • Hawaii: $7.75 per hour effective January 1, 2015; $8.50 per hour January 1, 2016; $9.25 per hour January 1, 2017; $10.10 per hour January 1, 2018 • Minnesota: $9.00 per hour effective August 1, 2015 for large employers (annual sales over $500,000 or more); $7.25 per hour effective August 1, 2015 for small employers (sales less than $500,000), training wage (under age 20 for frst 90 days) and youth wage (under 18); $7.50 per hour effective August 1, 2015 for J-1 Visa • Nebraska: $8.00 per hour effective January 1, 2015; $9.00 per hour effective January 1, 2016 • New Jersey: $8.38 per hour effective January 1, 2015 • New York: $8.75 per hour effective December 31, 2014 • Ohio: $8.10 per hour effective January 1, 2015; $4.05 per hour, plus tips for tipped employees • Oregon: $9.25 per hour effective January 1, 2015 • Washington: $9.47 per hour effective January 1, 2015; adjusted for infation every January 1