Increase your 401(k) this year

Looking for ways to save money this year? Don't forget your 401(k) plan. After several years of stagnant limits, the maximum amount a person can contribute to their 401(k) has been on the increase since 2012.

You can contribute $17,500 to a 401(k) retirement plan in 2013 - that's an increase of $500 from 2012. If you are 50 or older, you can add another $5,500 as a catch-up contribution.

Only about 5% of 401(k) plan participants make the maximum allowable contribution. Review your personal budget to find ways to increase your contributioneven if you are not able to put away the maximum amount.

Making 401(k) contributions can be more affordable than you think. With each contribution coming from your pre-tax pay, you're reducing income taxes deducted from your paycheck. Saving on income tax is now more important than ever with workers paying higher Social Security taxes on their income.

If you're considered a "highly compensated employee" in 2013, additional limits apply to you. No matter what category you fall in, contact People Lease today to find out more about how to maximize your 401(k) savings.

Make Sure Your Employees Take Their Vacations

Many employees don't take all their vacation days. If they're not, both they and your business will suffer.

Why wouldn't an employee want to take the paid vacation you provide? In the current economy, many employees are afraid to take vacation because of how it might reflect opinions of their work performance. Many just don't have the available funds to go out of town.

It's up to you to make sure they know their job will be waiting for them when they return. After all, you need employees who stay fresh so they won't suffer from fatigue or burn-out.

If they're worried about spending the extra cash, let them know it's okay to try a stay-cation and work won't be calling to bug them just because they're home.

People Lease adds Susan Huddleston to staff

People Lease is proud to announce Susan Huddleston has joined the team as Executive Administrator.

Susan joins us with several years experience in both administrative support and sales. Susan's administration experience includes paying taxes, filing Federal and State returns, processing payrolls, accounts payable, accounts receivable, finance, and processing of business credit accounts. Her time in sales earned her a position as sales manager with a previous employer and she brings those customer service skills here to People Lease.

A native of the Mississippi Gulf Coast, Susan now lives in Brandon with her husband and three children. She and her family are very active in their community.

Susan is an asset to the our team and she lends a very helping hand to make sure People Lease provides our customers with the best in service.

Happy Memorial Day from People Lease!

Fire up the barbeque and get out the sunblock, Memorial Day is almost here. Many Americans will be travelling to a vacation spot or having cookouts with friends and family this weekend. Many more will be shopping the sales aisles. Whatever you’re doing, Memorial Day weekend is a great time for not only fun, but also remembrance.

Memorial Day is the unofficial kickoff to summer. Schools all over the nation are out for summer vacation or will be very soon. With kids looking at a few months of fun in the sun, Memorial Day is the perfect time to start celebrating.

But whether you're attending a parade, having a picnic, or going on vacation, keep in mind that Memorial Day is for remembering those who have given their lives in service of their country. Formerly known as Decoration Day, Memorial Day was declared a federal holiday in 1971. Flags everywhere are flown at half-staff to honor fallen soldiers until noon on Memorial Day and are then raised to full staff to show that their sacrifice was not in vain. So, whatever your plans are for the weekend, please take the time to remember the meaning of the holiday.

Have a fun, safe, and happy Memorial Day weekend!

A quick checklist to help guide you through the hiring process

• Determine the need to establish a new or fill an existing position.
• Make sure an updated job description for the position is on file.
• Consult the job description to identify the required knowledge, skills, and experience required.
• Calculate the available compensation, including pay and benefits.
• Train managers on how to conduct effective interviews.
• Create an advertisement or recruiting campaign for the job position.
• Contact applicants to schedule interviews.
• Contact top candidates' references.
• Meet with the relevant decision-makers to select a candidate.
• Present the offer letter.
• Conduct background checks.
• Schedule New Employee and Department Orientations.
• Document all new hire paperwork into the employee's HR file

The role of social media in hiring

So you've decided to do a little hiring and you're going through the resumes and talking to references as these things have always been done. But what about the new tool in the hiring toolbox?

Social media is a huge part of American culture these days and it's naturally extended into hiring practices. Many managers are looking at job seekers' profiles to find out who is company material.

What can employers find out about a candidate through social media sites? Many look to see if the applicant conveys a professional image and what communication skills they have. Managers can also see if the candidate's background info supports their professional qualifications. In most cases, employers look to get a good idea of the candidate's overall personality.

Of course, social media is also a means by which employers weed out candidates. The most common strike against job seekers is posting inappropriate or provocative pictures online. Drinking and drug use is also a factor in rejecting candidates. Additionally, employers tend not to hire those with poor communication skills, have bad-mouthed a previous employer, and who make discriminatory remarks.

If you're looking to hire, you wouldn't be the first to take advantage of social media to find out a little about who your candidates really are. Of course, businesses have to be very careful when using social media not to discriminate against potential employees in order to stay in line with the law.

The Internal Revenue Service has released guidance for employers before the law provision requires them to report the cost of health care coverage on employee's W-2 statements.

• Employers who distributed less than 250 W-2s in 2011 are exempt from the requirement until at least 2014 but larger employers will be required to report health care cost information on 2012 W-2s when they are issued in 2013.
• Employers are not required to include dental and vision care in computing employee's health care costs if those plans are separate from group medical plans.
• Employers may choose to report only the cost of coverage of terminated employees.  If they include the coverage cost and the COBRA cost, they must do so consistently for all terminated employees.
• Health care costs do not have to be reported for situations where a W-2 is not required, such as retired employees receiving health care coverage.
• Employers are not required to report health care cost information if a terminated employee requests a W-2 before the end of the year.
• The cost of coverage taxable to employees, like for a domestic partner or a child over 26, must be reported on the W-2.

Other questions have not been answered. Some experts interpret the guidance to mean that employers have the choice to report both the active coverage and retiree coverage for employees who retire during the course of the year. Employers must be consistent in these cases.

The new reporting requirements will add to employer costs and liability. People Lease can help reduce your liability and keep you up to date with reporting requirements. For more information or to receive your free payroll quote contact us at 601.987.3025 or visit www.freepayrollquotes.com.

It’s largely become known as Presidents Day, but the holiday on the third Monday in February is nationally named for the man on the dollar bill.  First implemented by Congress in 1880 and revised to be celebrated by all federal offices in 1885, Washington’s Birthday was originally observed on his actual birth date of February 22nd.  This was changed in 1971 to fall on the third Monday of the month, which ironically means that the holiday is never observed on Washington’s actual birthday (February 22nd only occurs as a Monday during the fourth week of the month). 

Since the date falls between Washington’s actual birthday and Lincoln’s February 12th birthday, many states use the term Presidents Day as the official title of the holiday. Also, more recently the holiday has been used to celebrate the office of the President in general. 

George Washington is considered the “Father of the Nation”. After leading the American forces as commander-in-chief against the British in the Revolutionary War, the Electoral College voted unanimously to elect Washington as the first President of the United States in 1789.  He was elected to a second term but refused to run for a third.

Looking to celebrate the holiday with some of your president’s favorite foods? Take a look at The Food Timeline and see what meals the presidents’ have preferred over the years. 

Please remember that the United States Postal Service will be closed on Monday, as will most banks and public schools. Many businesses take the opportunity to hold “President’s Day Sales” over the holiday weekend.  Here at People Lease, you can receive the same 120-Day Money Back Guarantee we offer all year long. We know for sure that payroll was really simple in George’s day. Not so today, with things like benefit management, tax issues, and withholding calculations – how much more complicated can it be?  Free your company from the hassles of everyday employee administration - visit us today at peoplelease.com to get your free quote and see how easy we can make payroll for you.

Who’s your favorite president?

You know that the success of your business hinges on how well you know your industry. Being an expert in your field sets you apart from the competition. The same goes for People Lease.

At People Lease, we strive for perfection in back office solutions so you can spend your time on what makes your business successful. Small Business Reports states that the average manager spends up to 23% of their work hours on staff administrative paperwork. People Lease is here to give you back that time.

These days, small businesses fight an uphill battle against employee administration rules, regulations, and penalties. We help our clients steer clear of these problems with superior knowledge of these ever-changing policies. People Lease can take care of your payroll processing, employee benefits, insurance, workers' compensation, 401(k) and much more. With access to all these benefits, our clients are able to attract and retain the best employees.

People Lease is a Mississippi-based company that has been in business in the Jackson area for over 27 years. Our clients receive reliable, personalized service and a high level of commitment to their needs. And we're always reaching to do more. We've recently added an online portal to our website where clients will be able to access employee files and pay histories, view and print management and payroll reports, and even submit payroll. We've also added an HR Support Center to our site so clients can now read human resources articles, download forms and job descriptions, research laws and more. With all these options and much more, People Lease is here to make payroll and human resources work for your business.