New Hiring 101

Congratulations—you have hired a new employee. Now what should you do? Obviously the new employee needs to be trained in the responsibilities he/she will take on. He/she will need to meet co-workers and bosses. A desk or a section needs to be assigned. The list goes on!

But before anything can happen, a crucial form must be filled out: the Form I-9, Employment Eligibility Verification, published by the Department of Homeland Security. The form provides detailed instructions on how to determine eligibility of a potential new employee. Essentially, proper documentation must be shown by the potential new employee that our government has authorized him/her to work in this country. Once the proper documentation has been established and recorded both by you and the employee, it is necessary for you, as the employer, to keep a copy of the completed I-9 for the first 3 years of employment or 1 year after the end of employment, whichever is later. The Department of Homeland Security may audit any employer at any time for these documents so it is imperative that these documents be saved by each employer.

This is not the only form that needs to be completed for new hiring. The new employee must fill out the Form W-4, published by the Internal Revenue Service. The form is for federal withholding so be sure to submit this to your payroll provider.

The employee will also need to fill out a state withholding form. Some states have their own form while some simply use a duplicate copy of the Form W-4. Check with the applicable state regarding which form to use. Or call any one of us in the payroll department at Radcliffe for any help or questions you may have regarding the new hire process.

Visit the Tools & Forms Section on our website for quick links to the necessary forms for new hires, including copies of Forms I-9 and W-4.

The Benefits of Payroll Impounding

To some, “impounding” is a scary and threatening term. However, payroll impounding with a safe and trusted payroll provider like Radcliffe is a smart and efficient way to handle your payroll record keeping. We take on the burden of checkbook reconciliation, freeing time and energy to devote to other profit-generating tasks.

Impounding can be explained simply: On payday, Radcliffe withdraws one lump sum, the cash requirement, from your bank account. That sum includes all of your employees’ checks, all of the required payroll taxes, all garnishments, and your payroll invoice. All of your payroll liabilities are taken care of with one withdrawal.

When you reconcile your bank account, all you have to do is look for that one sum. Radcliffe will take care of all of the tedious check and tax reconciliations. We will also ensure that your taxes are paid on time—no more late payments made at the bank.

The decision to switch to payroll impounding is easy: would you prefer a simple or tedious reconciliation? If you are interested in finding out more about payroll impounding or wish to make the switch, please give us a call today!

Product of the Quarter: Workers' Compensation Through The Hartford

Radcliffe now offers Easy Choice, an easy and convenient way for you to pay your Workers’ Compensation insurance. We have partnered with The Hartford, a leading, internationally recognized insurance company, in order to integrate your workers’ compensation insurance with your actual payroll.

The benefits to you are outstanding. You will have no premium down payment and minimal, if any, audit adjustments. Best of all, no checks to write, no monthly billing or finance fees and no late payments.

How it works is simple: Radcliffe will transmit the payroll data electronically to The Hartford after each payroll. They will calculate your premium based on the information received. Then the payment will be deducted from your bank account the following week—you can choose to enroll in the Withdrawal Notification Service and an email notification will be sent to you indicating the amount of the upcoming payment. You will also receive monthly reports itemizing the previous month’s payments.

Don’t forget that The Hartford is a well-recognized insurance provider. As such, they will offer competitive pricing and most importantly, the financial strength that comes with a large Workers’ Compensation insurer.

If you are interested, please call us today. A representative from The Hartford will contact you, ask you a few questions, then give you a quote. You are under no obligation so you have nothing to lose. Find out if The Hartford can save you time, money, and aggravation. Or you can visit the Workers' Compensation page for more information!

Fast Alert: Minimum Wage Requirement Change

Last year President Bush announced the federal minimum wage would be increased in three stages. Effective July 24, 2007 it increased to $5.85 per hour. This year, effective July 24, 2008, the federal minimum wage will be raised to $6.55 per hour. In 2009 it will increase to $7.25 per hour, effective July 24. But don’t worry—next year we will announce it again for you so you won’t miss this important notice. For state minimum wage requirements, be sure to check the Tools & Forms Section section for a handy quick-sheet. For example, effective July 24, 2008, Maryland will increase its minimum wage requirement to match the federal requirement. The law states that employers must pay the higher minimum wage requirement of state or federal, so be sure to be up to date on which requirement is the highest. Check out the website for the U.S. Department of Labor for more important payroll changes.