In February 2015, the IRS issued final forms and instructions related to the Affordable Care Act (ACA). Back in December, 2015, the IRS issued a deadline extension for the new ACA reporting requirements. For tax year 2015, employers and insurance carriers are required to report medical coverage data under Internal Revenue Code sections 6056 and 6055.
Below is what you need to know to decide what you need to report and what form to use. The chart above is a handy reminder of the deadlines to file this paperwork.
Start by figuring out if your company is considered an applicable large employer (ALE)
An ALE is a company that employed 50 or more full-time employees, including full-time equivalent employees (FTEs), on average during the previous calendar year. Generally, a full-time employee is someone who works 30 or more hours a week, on average. Internal Revenue Code section 6056 applies to companies that meet the definition of an ALE, including companies that did not offer group medical coverage in 2015.
There are many steps hiring managers must take to fill an open position. These include sourcing applicants, screening candidates, interviewing, skills assessment, writing the offer and onboarding the new employee. In the mad rush to hire someone to fill an empty spot, many managers overlook a few key areas that can be the difference between rushing into the costly mistake of hiring the wrong candidate and finding the perfect person to fill a position.
Here are some tips that will help ensure you always hire the best people who will improve your organization, enabling your company to grow and ultimately become more profitable.
1) Clearly define the responsibilities of the roleIf you want to hire someone who is well suited to the requirements and responsibilities of the job, you must make sure these are clearly defined. Start by writing a very specific job description. TriNet has given more tips on how to write better job board ads here.
Business today is all about leveraging the power of technology for efficiency, security and convenience. With new cloud technologies, automating your HR tasks doesn’t need to be cost-prohibitive. Instead, it can be an indispensable tool for managing your most important resource (your employees) at an efficient price and pace.
Human resources creates dozens of pieces of paper for every employee, including applications, background checks, insurance, employment and benefits forms, and post-separation forms.
Luckily, there is an answer to dealing with paper, and achieving more oversight and control over HR records. Mobile HR and cloud applications are changing the way people work – helping to alleviate the cost and time burdens of managing documents and ushering in a brand new era of data management.
The following letter from TriNet CEO Burton M. Goldfield is in response to the TriNet 2016 Presidential Election Survey
Dear 2016 Presidential Candidates:
As the CEO of TriNet, I work to provide HR services for more than 12,000 U.S. small businesses and their 314,000 employees every day. I see firsthand the struggles these aspirational companies go through as they try to grow their businesses while navigating an increasingly volatile regulatory landscape. What’s even more challenging is that when they flourish, they face a heightened impact of ever-changing regulatory issues.
Whether it’s differing tax or labor laws at the federal, state and local levels, or the states’ varying degrees of Affordable Care Act implementation, there is a plethora of employment law with which they have to comply. What you perceive to be a minor tax change at the federal, state or local level may impact a small business to the tune of $20,000. This can put them out of business. Large companies can more easily absorb these unanticipated costs. These complexities skew the focus of small businesses away from successfully executing their business plans.
February is a month dominated by love, mostly thanks to one particular holiday celebrating all things red, chocolate and romantic. However, one very important relationship doesn’t always get the attention it deserves – that between an employee and their employer.
While it is clearly important to tend to your personal relationships, the truth is that you spend a significant portion of your life with your work colleagues. Unfortunately, most people simply do not put forth the necessary effort to nurture the employer/employee relationship for long-term, mutually beneficial success.
In honor of Cupid’s big day, we have put together some of our HR experts’ best tips for managers to help their employees feel the love.
Without question, one critical success factor for all biotechnology companies is the ability to identify and retain a synergistic combination of internal and external team members, all working seamlessly toward the same goal. It is impossible to start and build a successful biotechnology company without the help of an exceptional and synergistic team of individuals. In this post, I will discuss the most important characteristics biotech entrepreneurs should seek in new employees.
February is American Heart Month, a time when caring organizations and individuals work to raise awareness about heart disease and ways to prevent it. This time of health consciousness is also a good opportunity to focus on employee wellness. By making wellness a company priority, you can help employees make it a priority as well.
According to a National Small Business Administration (NSBA) survey 93 percent of small business owners think employee health is important to business but just 22 percent currently offer any kind of wellness program. Small business owners often perceive barriers to creating their own programs but, in reality, it can be done effectively with minimal cost and burden on the employer.
Plus, a wellness program can have direct impact on your organization’s bottom line.