SIMA Login Center
Copyright 2018 SIMA Financial Group.
All Rights Reserved.

Small Businesses

SIMA Financial Group > Small Businesses

DOL: Employees May Use FMLA Leave for IEP Meetings

Opinion Issued in Case with Doctor’s Certification Employees may take leave under the federal Family and Medical Leave Act (FMLA) to attend their child’s Individualized Education Plan (IEP) meetings, according to a recent opinion letter from the U.S. Department of Labor (DOL). Although DOL opinion letters are specific to the facts presented, employers can look to them for guidance on the DOL’s interpretation of the law. In the letter, the DOL said the parent’s attendance at a school IEP meeting to address the educational and special medical needs of her children with serious medical conditions (as certified by a health care provider)...

Continue reading

Open Enrollment Season – A Checklist for Employers

Here at SIMA we offer a comprehensive set of tools and support materials to ensure your employees remain engaged, educated, and, most of all, enrolled in a plan that helps them make better decisions for a healthy physical and financial future. Here are just a few things to do before, during, and after the enrollment period. Pre-Enrollment:  4-10 weeks before Open Enrollment Plan kickoff event around enrollment Send a letter, email, or text message about upcoming enrollment period Print flyers or order materials to hand out at enrollment event Open Enrollment:  1-2 weeks before and during Open Enrollment Send reminders about...

Continue reading

August 1 IRS webinar to help employers, tax pros understand payroll taxes

IR-2019-133, July 29, 2019 WASHINGTON — The Internal Revenue Service will conduct a webinar August 1 for employers and tax professionals focusing on employment and payroll taxes. Federal law requires most employers to withhold federal income taxes from their employees' wages. These taxes must be deposited, along with the employer and employee portion of Social Security and Medicare taxes, and reported to the IRS. Last year, the IRS processed over 30 million employment tax returns and collected over $1 trillion in employment taxes. The free 60-minute webinar is open to tax professionals, employers and anyone else interested in the topic. Tax pros can...

Continue reading

Five Ways to Prevent Workplace Harassment

Every employer should make preventing workplace harassment a top priority Harassment is a form of employment discrimination that may violate federal laws such Title VII of the Civil Rights Act; the Age Discrimination in Employment Act; and the Americans with Disabilities Act. The Equal Employment Opportunity Commission (EEOC) has issued a list of best practices for employers to use to prevent harassment in their workplaces. [embed][/embed]...

Continue reading

ACA Affordability Contribution Rate Set at 9.78% for 2020

New Figure Marks Decrease from 2019 Under the employer shared responsibility ("pay or play") provisions of the Affordable Care Act, applicable large employers—generally those who have 50 or more full-time employees (including full-time equivalent employees)—may be subject to a penalty if they do not offer affordable coverage that provides minimum value to their full-time employees and their dependents. For plan years beginning in 2020, the Internal Revenue Service has announced that coverage will generally be considered affordable if the employee's required contribution for the lowest-cost self-only health plan offered is 9.78% or less of his or her household income for the taxable...

Continue reading

Have a sunnier tax season with these summertime IRS tax tips

WASHINGTON — Buying a home? Working a summer job? Volunteering? Activities that are common in the summer often qualify for tax credits or deductions. And, while summertime and part-time workers may not earn enough to owe federal income tax, they should remember to file a return to get a refund for taxes withheld early next year. Here are some summertime tax tips from the IRS that can help taxpayers during tax season next year: Marital tax bliss. Newlyweds should report any name change to the Social Security Administration before filing next year’s tax return. Then, report any address change to the...

Continue reading

New Minimum Wage Requirements in Several States/Cities

On July 1, several states and cities changed their minimum wage rate. Click here to view the list of affected jurisdictions, including: ⦁ New Jersey ⦁ Oregon ⦁ Chicago ⦁ Cook County, IL ⦁ Washington, DC ⦁ Minneapolis ⦁ Los Angeles ⦁ San Francisco ⦁ and 9 smaller cities in California Action May Be Required: If you operate in one of the affected cities or states, please review your employee pay rates to ensure all employee are being paid at least the new minimum wage. Please note, SIMA cannot automatically update these wages, therefore, you will need to confirm your employee pay rates and adjust those that fall below the adjusted...

Continue reading

IRS Releases Inflation-adjusted Limits for HSAs and HDHPs for 2020

On May 28, 2019, the IRS released Revenue Procedure 2019-25 to announce the inflation-adjusted limits for health savings accounts (HSAs) and high deductible health plans (HDHPs) for 2020. These limits include: The maximum HSA contribution limit The minimum deductible amount for HDHPs The maximum out-of-pocket expense limit for HDHPs These limits vary based on whether an individual has self-only or family coverage under an HDHP. HSA Contribution Limits for 2020 The IRS limits for HSA contributions increase for 2020. Eligible individuals with self-only HDHP coverage will be able to contribute up to $3,550 for 2020, while eligible individuals with family HDHP coverage will...

Continue reading

Consider Apprenticeships for Your Company

Finding qualified job candidates can be frustrating and time-consuming, especially when you’re searching for skilled workers. If this sounds like your situation, it may be time to consider an apprenticeship program. Apprenticeships are growing in popularity across the United States, and with good reason: these programs benefit workers and business owners alike. Employees learn necessary skills while earning a paycheck, and employers develop a staff of qualified workers trained to their specifications. Watch this video on apprenticeship programs. [caption id="" align="alignleft" width="1920"] Apprenticeships[/caption]...

Continue reading