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The Payroll Advi$or!

Payroll Wage, Contribution Limits for 2013

Need to know what the payroll related tax limits, mileage rates, etc are for 2013. Here you go…..

Payroll Taxes 

  • Social Security wage base:   6.2% of the first $113,700 in wages
  • Medicare tax:  1.45% on the first $200,000 in wages ($250,000 married),  2.35% on all addition wages.
  • FUTA Tax Rate:  .6% of first $7,000 in wages (Note: FUTA Credit Reduction States  will experience additional FUTA tax. The Federal Gov will determine those states at the end of the year. In 2012, there were 18.)

Basic Deferred Savings Plan  Limits

  • 401K, 403B:        $17,500
  • Catch-up (for those 55 or older):   $5,500
  • Simple:   $12,000
  • Section 457;  $17,500
  • Individual Retirement Account (IRA):  $5,500

Mileage Rates

  • Business Miles:   56.5 cents
  • Medical or moving miles:  24 cents
  • Charitable miles:  14 cents

W-4

New 2013 W-4′s are on our site under Customer Resources.

Please feel free to call one of our payroll specialists at 423-854-9042 if you need assistance with other payroll issues.

 

Posted in News
“We had been doing our payroll in-house. When we reviewed your products and services, we found them to be both affordable and cost-effective. The transition to Time & Pay went very smoothly. We are very confident our payroll tax issues and confidentiality issues are now a thing of the past.”
-S T – D & S Dental, Johnson City, TN

“As a new company to Johnson City, we were glad to find a local quality payroll service provider. We had used a national provider in Florida and were well aware of the advantages of outsourcing. Time & Pay offers all that the big national firms provide and more, including local, prompt and courteous customer service!”
-K H – JD Squared, Johnson City, TN

A while back, the state came to our office to audit our payroll records. When the auditor found out Time & Pay did our payroll, she stopped, packed her briefcase and informed us there was no need for the audit. She was very confident we were compliant.
-K B – GR&P Co. Bristol, TN

“Time & Pay does a great job handling both our corporate and independent store accounts. The flexibility of their on-line capabilities gives us the information we need when we need it. Their response to our diverse needs has been excellent.”
-B G – HobbyTown USA, Omaha, Nebraska

“We had been doing payroll in-house for years and was looking for a cost effective alternative. Your systems and services have been able to provide us with information and reports we were not able to produce with our old system. You have freed our time to concentrate on more important accounting aspects of our business. With the excellent services you provide, we would not consider any other payroll processing system.”
-Kwick-Way Transportation Co, Gray, TN

“Opening up a large retail operation, the last thing I wanted to concern myself with was payroll and all the compliance hassles. Time & Pay takes care of all my payroll needs. With their services, my payroll worries are eliminated. We would recommend your services to any one.”
-D K – DW Express LLC, Bristol, VA

“After working with one of the national firms, the transition to Time & Pay was easy and beneficial. Their products and services exceeded what we were getting, were more cost effective, and their customer service goes above and beyond. We are very happy we made the change.”
-R V – Mountain Treasure Corral, Kingsport, TN

“As a former customer of one of those big national firms, not only does Time & Pay perform better in the payroll processing area with better products and services, but you are also way ahead of them in the customer service area. It is a pleasure working with your staff knowing that any help we need is readily available.”
-C – Comprehensive Community Services, Johnson City, TN

“Having Time & Pay as a payroll service has been a wonderful partnership. Their customer service, punctuality and attention to detail have surpassed our expectations and we are glad to have them as a partner in conducting all of our payroll functions. I would highly recommend their services to companies, large and small.”  
-T W – Little Things, LLC, Chattanooga, TN

“From the start, Time & Pay has worked with us in many aspects of payroll and HR as we have grown from a single facility to a multi-state operation. They have allowed us to concentrate on that expansion while they have focused on keeping us compliant with payroll and timekeeping regulations. There customer service is exemplary! They are great to work with.”
-J G – Prime Choice Foods, Denver, CO

4-11-2014

Time & Pay Systems Safe From Latest Internet Security Breach

If you are wondering if you should be concerned about the latest breach of internet security and your Time & Pay data systems, the answer is No. The virus, the Heartbleed Bug, is the latest serious vulnerability in the OpenSSL cryptographic software library which allows the interception of information normally protected by the SSL/TLS encryption used [...]

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Time & Pay Sponsors Chattanooga Cystic Fibrosis Walk

Time & Pay is pleased to be given the opportunity to sponsor the Cystic Fibrosis Chattanooga chapter Great Strides event  April 27, 2014. The Cystic Fibrosis Foundation has made great strides in finding a cure for CF and significantly improving the lives of those individuals who have CF. The Foundation is one of the better [...]

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4-7-2014

Time & Pay announces New ATA App

Time & Pay is excited to announce a new smart phone app for our SwipeTime Automated Time and Attendance system.  This new app gives employees the capability of clocking in and out, change department/location/job, view pay period current hours worked and view time-off balances. Supervisors can view employees currently clocked in or with the day off [...]

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