Year end is right around the corner and we want to make your life easier. The year 2013 is bringing a lot of changes that will be important for you to communicate to your employees. Optimum Solutions has created a memorandum template that you might want to consider using to help educate employees about the upcoming changes including:
- Social Security Tax Rate Changes for 2013: employee withholding rates will increase
- Federal Income Withholding Tax 2013: employee withholding rates will likely change
- Form W2 Box 12 Code DD: employees will see employer sponsored healthcare coverage reported in W2 box 12 with Code DD
- New FSA Limits
- New HSA Limits
- New Retirement Plan Limits
Use the memo as a stuffer with the employees’ first check in 2013 to reduce the number of phone calls/questions you receive. The more time you can save during year end the less stress you will endure.