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Why should I outsource my payroll?
There are many reasons to outsource your payroll. However, the most compelling reason is that we process payroll full-time for hundreds of companies. As a result we are more accurate and more cost effective than a single entity can be. Because of our volume, we are able to provide you with extremely high-end applications and enterprise-level technology at mid-market prices. We also take responsibility for making sure that your taxes are paid and filed on time and correctly.
What other service can you provide?
Our advanced technology allows us to integrate with almost any service provider. We can provide integrated HRIS Systems, Time & Attendance, Employee self Service, 125 Administration, Worker’s Compensation Insurance, Unemployment Claims Management, and much more.
What are this year’s wage limits?
This year’s limits can be found on our home page at http://www.hsapayroll.com.
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What is ACH?
ACH Is an Automated Clearing House transaction. These types of transactions are used for employee direct deposit and to pay many of your taxes. More information can be found at http://www.nacha.org
If I gave an employee a gift, do I have to tax it?
In almost every case, the answer is yes. The employee must be taxed on the fair market value of all compensation received, even if it is in the form of a gift. When non-cash income is received and the value must be accounted for, it is called imputed income. Simply contact your customer service representative to ensure that your company is configured for imputed income. |
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What types of retirement plans are available to me?
Profit sharing plans, 401(k) designs, safe harbor plans, Age Weighted plans, Cross Tested plans, Auto enrollment, ESOP’s Defined Benifit plans, Combined Defined Benefit and Cash Balance plans, Cash balance plans, 403(b), & 457.
How do I know what plan is right for me?
With over 25 years in the business, our consultants are more than qualified to assist you with this decision. We will meet with you, understand your goals, and make our recommendation. We will then customize the design of your plan using the full power of the tax code, making sure you have the right fit, and often time saving our clients thousands of dollars.
What is a TPA?
A Third Party Administrator assists our clients in the ongoing administration of their retirement plans. That assistance might include filing of the plans annual tax return form 5500, annual testing of 401(k) contributions, testing for eligibility, testing for contributions limits testing for control group issues, calculation of vesting, allocation of earning, preparation of employee participant statements, calculation of minimum required distributions, calculation of distribution and paper for terminated participants, creation of paperwork for participant loans, summary annual reports, etc. |
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Will you work with my current Broker?
We coordinate our services with your current professionals. Our services complement those of the broker that you are currently working. We work with the largest most flexible recordkeeping platforms available today to make sure you plan has the correct fit. We are an independent company not tied to any particular investment platform which allows our clients to select the flexibility they need that works for their company and their plan.
Is Roth the right choice for me?
This is a complex question that is not easily answered without examining the long-term financial status of an individual. Please contact your plan consultant to review this topic in greater detail.
What is a Cash Balance Plan?
The newest design tool available is a “Cash Balance Plan” This new design technique allow for substantial contributions for older higher paid employees while minimizing the employer cost. An individual age 52 can contribute over $2million dollars over a 10 year period of time. |
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