Monday, December 30, 2013

New minimum wages

On 12/31/13 NYS' minimum wage goes to 8. per hour from 7.25
On 01/01/14 NJS'  minimum wage goes to 8.25 per hour from 7.25
Some more states that are raising up the minimum are RI to 8., CT to 8.70, VT 8.73, FL 7.93
AZ 7.90, MO 7.50, OH 7.95, MT 7.90, OR 9.10, WA 9.32 and CA 9.00

Friday, November 1, 2013

Social Security Wage Base Increases to $117,000. FOR 2014

Beginning 1/1/2014 the wage base for social security will be $117,000. up from $113700 in 2013.
The tax rate remains the same at 6.2%. Only about 6% of workers hit this threshold. Medicare remains 1.45% of all wages. Any wages in excess of $200,000. pay an additional 0.9%on all wages above the 200k.

Sunday, September 29, 2013

Oct 1st Deadline

All employers must notify all employees in writing about the new marketplace (exchanges) that will open Oct 1st. There is 1 form if the employer offers insurance and another one if they don't offer insurance. Effective Oct 1st employee's will be able to go on-line and see what insurance policies are available in the marketplace.