2012-01-05T15:39:05-05:00 Zend_Feed_Writer http://www.amerifed.com

2012-01-05T00:00:00-05:00 2012-01-05T15:39:05-05:00 http://www.amerifed.com/news/detail/id/25 Florida's employers will pay a minimum of $171.70 per employee for unemployment tax in 2012, compared to $72.10 in 2011.  The maximum tax will increase from $378.00 to $459.00.   Florida employers were scheduled to pay higher unemployment taxes in 2010, but Florida implemented a law that suppresed the rate increase, keeping rates lower than what they otherwise would have been.  Florida pays Unemployment Compensation (UC) benefits using monies from the UC Trust Fund.  The benefits are funded by a tax paid by Florida employers; employees do not pay into the fund.   Florida law requires that the unemployment tax be adjusted annually to maintain the balance in the UC Trust Fund.  In 2009, the fund became insolvent and the balance fell to zero due to high unemployment and the recession.  Florida borrowed from the federal government to pay benefits, and Florida owed the feds $1.7 billion as of November, 2011.   For 2012, unemployment tax is based on annual salary up to $8,500 per employee, an increase from $7,000 per employee for 2011.   Florida, like many other states, has borrowed from the federal government for two years to replenish its UC Trust Fund.  Again in 2012, all contributing employers will pay a share of the federal interest payment through a special annual assessment.  The Florida Department of Revenue will send notices by February 1, 2012 with the amount due, with a coupon for payment.  The payment must be made by June 30, 2012.        

2012-01-05T00:00:00-05:00 2012-01-05T15:13:14-05:00 http://www.amerifed.com/news/detail/id/24 Florida's employers should have received their 2012 unemployment tax rate notices by the end of December. Under Florida law, unemployment tax rates are calculated each year. Wages paid beginning with the calendar quarter January 1 - March 31, 2012, are taxable up to the first $8,500 per employee, up from $7,000 in 2011. Businesses should use the correct Tax Rate identified on the 2012 Unemployment Compensation Tax Rate Notice (UCT-20, R. 01/12) when filing the 1st quarter report in April 2012.  For new employers, the initial rate is 2.7% for the first ten quarters, then is subject to adjustment.

2012-01-05T00:00:00-05:00 2012-01-05T15:06:25-05:00 http://www.amerifed.com/news/detail/id/23 The 4.2% employee social security tax holiday has been extended - but only until 2/29/12. Read about how this impacts employee social security tax withholding in January and February. And find out what expiring provisions are not extended past 12/31/11.

2012-01-05T00:00:00-05:00 2012-01-05T14:55:42-05:00 http://www.amerifed.com/news/detail/id/22 Florida's minimum wage rose by 36 cents to $7.67 per hour effective January 1, 2012, 42 cents higher than the federal minimum wage of $7.25.  The minimum direct wage for tipped employees rose to $4.65.  Florida is one of 18 states that impose a minimum wage higher than the federal minimum wage.  Twenty-three states have a minimum wage equal to the federal minimum wage, and five states do not have an established minimum wage.  Florida is one of ten states that link the minimum wage to the consumer price index.   Employers who must pay their employees the Florida minimum wage must post a notice in a conspicuous and accessible place in each location where employees work.  This poster is in addition to the requirement to post a notice for the federal minimum wage.  Both minimum wage posters can be downloaded at Forms & Links.

2012-01-05T00:00:00-05:00 2012-01-05T14:19:57-05:00 http://www.amerifed.com/news/detail/id/21 Amerifed Business Solutions is an approved Payroll Partner for AmTrust's Pay-As-You-Owe (PAYO) Workers Comp solution.  Purchasing workers comp and making installment payments can be time consuming and sometimes painful.  Many companis are faced with installment fees, large up-front premiums and ongoing concern of making timely payments.  Companies may have to contend with large addition or return premiums when audited at year-end.   AmTrust works hand in hand with Amerifed Business Solutions to provided the Perfect Payment Solution.  The PAYO Solution reduces the company's time in many ways.  No deposit is required, making it easy to bind coverage and premium payments based on actual payroll offers cash flow benefits.   The PAYO Solution helps a company budget more effectively by staying on top of the workers comp premium payments.  No more large down payments!  Pay exactly what is owed each pay period based on actual payroll.  Now that takes the paint away from workers comp!   PAYO features include: No deposit required Improved cash flow No invoices... no checks to write Simplified audit process Better control over your business   

2011-11-21T00:00:00-05:00 2011-12-09T17:34:17-05:00 http://www.amerifed.com/news/detail/id/3 Amerifed has grown by referrals from our clients and their advisors.  We value your referral because it shows the confidence that you place in us.   As our way of saying "thanks”, Amerifed will give you a $100 Panera Bread gift card for referring a new client.  Gift cards are valid in all Panera Bread stores in the US, including its 200 locations in Florida.

2011-11-20T00:00:00-05:00 2012-01-05T15:15:20-05:00 http://www.amerifed.com/news/detail/id/4 Amerifed has grown by referrals from our clients and their advisors in the communities that we serve.  As our way of saying "thanks” for a referral, Amerifed will give you a $100 Panera Bread card.  Cards are valid in all 200 Florida locations and in all Panera Bread stores in the US.

2011-11-19T00:00:00-05:00 2012-01-05T14:58:55-05:00 http://www.amerifed.com/news/detail/id/14 IRS now requires that all federal withholding taxes be deposited electronically thru EFTPS. IRS Coupon 8109 is no longer used to make deposits at banks starting in 2011. Amerifed Business Solutions will make deposits for you by their due date.  Or, we will notify you of the amount and date to make your deposits.  You must enroll in EFTPS if you will make your own deposits.

2011-04-29T00:00:00-04:00 2011-11-22T09:26:48-05:00 http://www.amerifed.com/news/detail/id/10 Beginning January 1, 2011, all federal payroll taxes must be deposited electronically using the Electronic Federal Tax Payment System (EFTPS).  IRS Forms 8109 and 8109-B (Federal Tax Deposit Coupon) cannot be used after December 31, 2010.  Banks no longer accept deposits of payroll taxes.  Procedures for using the EFTPS can be located at www.eftps.gov.

2011-04-27T00:00:00-04:00 2011-11-28T14:03:48-05:00 http://www.amerifed.com/news/detail/id/5 Thanks to ongoing tax law and regulatory changes, rollovers have become quite complex. The portability chart below provides a complete list of the places rollover can "go” in 2011. A traditional IRA may be rolled into a qualified ploan, such as a 401(k), if the qualified plan accepts IRA rollovers. Once the rollover has been made, the traditional IRA funds lose their IRA characteristics and are treated as rollover funds in a qualified plan.  So they would have creditor protection, are available for participant loans, and may be invested in insurance. The required minimum distribution rules of the qualified plan also apply. When a participant moves funds from one IRA to another IRA, a one-year waiting period between rollovers applies. The 12-month wait begins when the funds are distributed from the first IRA and applies to both the IRA from which the distribution is made and the funds that are actually rolled over. If a rollover is made from a qualified plan to an IRA, however, there is no 12-month wait because there has been no IRA-to-IRA rollover.   From Traditional   and SEP IRA Simple   IRA 403(b) Gov’t   457(b) Qualified   plan Roth 401(k),   403(b) and 457(b) Roth IRA Traditional and   SEP IRA Yes No Yes Yes Yes No No Simple IRA Yes Yes Yes Yes Yes No Yes 403(b), other   than Roth 403(b) Yes No Yes Yes Yes Yes Yes Gov’t 457(b) Yes No Yes Yes Yes Yes Yes Qualified plan   other than Roth 401(k) Yes No Yes Yes Yes Yes Yes Designated Roth   401(k), 403(b), or 457(b) by direct rollover No No No No No Yes Yes Roth IRA No No No No No No Yes