HR Audits

HR audits are an objective, systematic review of a company’s HR policies, procedures, strategic direction, structure, resources, and ultimately, its contribution to the organization. Moreover, audits offers the opportunity to protect the company, establish best practices and identify areas for improvement, and can help evaluate whether specific practice areas are adequate, legal and/or effective. HR audits are essential for companies to ensure that they are avoiding any legal or regulatory liability associated with their HR policies and practices. Audits also provide the…

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The Biden Administration and Health Care
Gavel, stethoscope and caduceus sign on books background. Mediicine laws and legal, medical jurisprudence. 3d illustration

The Biden Administration and Health Care

Between the COVID-19 pandemic and an ongoing political debate over the Affordable Care Act (ACA), health care was a core element of Joe Biden’s campaign for the U.S. presidency. It remains to be seen exactly how President-elect Joe Biden and Vice President-elect Kamala Harris will impact the health care industry. However, employers should begin to consider how this administration’s platform might affect health care and employee benefits. This article explores the Biden administration's proposed COVID-19 response, general health care platform, and top…

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Costly Mistakes: Failing to Remit Payroll Taxes on Time
Compliance concept with young man holding a tablet computer

Costly Mistakes: Failing to Remit Payroll Taxes on Time

Like many businesses, you may be feeling the financial crunch and are tempted to use money you deduct for payroll taxes from employee wages. Failing to remit payroll taxes and retirement plan contributions in a timely manner is not only a violation of certain payroll tax laws, it can also subject your company to heavy penalties. When employers deduct income and Social Security taxes from employees’ wages, the money is not theirs to use. You must remit the deducted amounts, along with…

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Summary of the 2020 Employer Health Benefits Annual Survey

Each year, the Kaiser Family Foundation conducts a survey to examine employer-sponsored health benefits trends. This document summarizes the main points of the 2020 survey and suggests how they could affect employers. Health Insurance Premiums In 2020, the average premium rose by 4% for both single coverage and family coverage. The average premiums were $7,470 and $21,342, respectively. However, premiums for single coverage under high deductible health plans with a savings option (HDHP/SOs) were noticeably lower than the average single coverage premium.…

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SBA Announces Simpler PPP Loan Forgiveness for Smaller Loans

The Small Business Administration (SBA) and the U.S. Department of Treasury (Treasury) recently released a simpler Paycheck Protection Program (PPP) Loan Forgiveness Application Form 3508S and instructions. This updated, simple two-page application is for borrowers of $50,000 or less, and is not for use by borrowers who received PPP loans totaling $2 million or more together with their affiliates. This action streamlines the PPP forgiveness process to provide financial and administrative relief to small businesses. The SBA and Treasury have also eased…

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