SMART HR News You Can Use

CHECK DATE determines which TRA rate to use for employer shareFiscal Year 2022-7/1/2021-6/30/2022 – 8.34%Fiscal Year 2023-7/1/2022-6/30/2023 – 8.55% When you calculate your payoff payroll, please review your proof to ensure the correct TRA rate is being used for the employer share. FOR CHECKS DATED JUNE the calculation should use 8.34% for employer share of TRA.  FOR CHECKS DATED JULY OR AUGUST the calculation should use 8.55% for the employer share of TRA. 

MN Department of Labor and Industry is a great resource! Check out their website for the Wage and Hour Bulletin for topics like Minnesota’s payment of wage laws, how often an employer should pay employees, and other paycheck laws. Questions? Labor Standards serves the people of Minnesota by providinginformation about the state's wage, hour and employment laws.Phone:  651-284-5075 or 800-342-5354Email: dli.laborstandards@state.mn.usWebsite: www.dli.mn.gov/laborlaw

*File Submission- All 1095 files have either been accepted or accepted with errors. If you have errors be sure to email Mara with your correction information. *New January Rows- Have you built your 2022 ACA information rows yet?  If your health plan has a July renewal, then your administrative period is May and June. You need to be reviewing your ACA information to determine if you need to be offering insurance to employees that worked on average >130 hours/month during yo...

Is it Budget Time? Let SmartHR's Budget Module Help You OutAre you thinking about working on next year’s budget?  SmartHR’s Budget Module can help project next year’s payroll budget complete with employee step, salary and benefit increases.  This module also creates a file that can be imported into SMART Finance.  All of the appropriate finance account codes for salary and benefits will be used based on the employee’s current setup in payroll....

Need a proofing tip? Calculate your contracts prior to adding timecards!

You may want to consider setting LIFETAX up as a per pay period item starting in January so it is not forgotten in December each year (or during the year if the employee resigns). Process but HOLD your Q4-941 and State Filing until you receive your W2 confirmation from us, to ensure that no additional changes are necessary. 

Rally for Online W-2’s in your district Now is the time to notify your employees that W-2’s will be available online. Save your district time and money by having your employees print their own W-2. Employees will need to log into SMARTeR to consent. 

If you have January 1 renewals on your deductions, this is a good time to verify the calendar limits. For example: Health Insurance, HSA or FSA deductions.