Connect with Evernote:
Please Login to Connect Your Account with Evernote
‘Tis the season to make a list and check it twice. We are all making lists for the holiday gifts we need to purchase, ingredients needed to be bought for our favorite holiday recipes, the greeting cards we plan to send and the New Year’s resolutions we want to keep. Just like we use lists to organize our personal lives, this is also the season to plan for our businesses in the new year.
This is the time to reflect on how your business is doing, what is working and what you need to do differently to succeed in 2013.
□Do you offer paid time off and did you remind your staff about any end-of-the-year requirements to use their remaining vacation time before they lose it come 12/31/2012?
□Have you made a note to remind yourself to obtain the 2013 W4 Form once it’s released by the IRS (by 12/31/2012)
□Do you have active identification on file to support all I-9 Forms? (Yes, you need to re-verify the I-9 Form documentation provided by employees even after the time of hire.)
□ Have you distributed W9 Forms to all of your consultants who will receive a 1099 in 2013?
□ Did you know that the IRS Mileage reimbursement rate is increasing to 56.5 cents effective 1/1/2013? Have you updated your Business Expense Reimbursement policies to reflect this change?
□ Did you know that beginning 1/1/2013 employers must use the NEW Summary of Consumer Rights Document to Comply with the Fair Credit Reporting Act when completing background screenings on new hires or current employee?
□Have you asked your staff to update their emergency contact data sheets?
□Have you distributed the Holiday Schedule for 2013 so your staff know when the Company will be closed? (Will there be any Floating Holidays provided to staff?)
□Are you prepared for the upcoming changes that are occurring due to healthcare reform? It’s not a question any longer of IF something is going to happen, it’s a fact that it will happen. You need to plan now because the decisions you make in 2013 are going to greatly affect you in 2014.
□Have you done your staffing budget for 2013? Or are you going to use the old “wing it approach?”
□Have you distributed the annual Workers Compensation Rights & Responsibilities notice?
□ Do you offer your employees opportunities for training and development?
□Could your overtime practices trigger a Fair Labor Standards Act (FLSA) audit?
□Are your staff classified correctly as either hourly or salaried (exempt or nonexempt)?
□Did you roll out your new employee handbook like you planned?
□Did you get out that new Social Media policy yet (You do have a Social Media policy, right?)
For additional information on how to check off items from your business’s end-of-year checklist, contact McCloskey Partners, LLC 623 W. Market Street, Perkasie, PA 18944; 215-453-1978 phone; 215-220-3422 fax; www.mccloskeypartners.com;
Find us on Facebook, Twitter and LinkedIn: McCloskey Partners