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Payroll Newsletter 2014-2015

16. Apr 2015
Payroll Newsletter 2014-2015
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Payroll Newsletter 2014-2015

  1. Below are payroll reminders and information to consider as we near the end of 2014 and the start of 2015: Remember to review your W-4 withholdings for 2014 to ensure that you will have enough Federal withheld by year-end. There are 7 pay periods left this year to correct any foreseen under-or over –payments for the year; if you need further clarification or assistance, please contact your personal tax advisor or accountant. If you would like to change your W-4 withholdings for the remainder of this year, please print out and complete (or ask me for a copy of this document). Be sure to sign and date the form and return to payroll and we will adjust your allowances per your direction. Visit: http://www.irs.gov/pub/irs-pdf/fw4.pdf You can also use the IRS withholding calculator: http://apps.irs.gov/app/withholdingcalculator/ This calculator helps figure out appropriate withholding amounts to complete your Form W-4. To determine this, it asks questions about expected wages up to the end of the year, how much has been withheld so far, and what deductions are going to be claimed on the personal income tax return. Be sure to have with you your latest paystub and a recent income tax return, you can esti- mate values to use this tool but remember the results can only be as accurate as the input you provide. Contact VOYA first, if you would like to change your contribution rate, if you have questions or if you need help with your plan. Call them at 1(800)584-6001 or visit their website: www.voyaretirementplans.com The IRS announced on October 23rd, 2014 the new limits for 401k retirement plans in 2015. The elective deferral contribution limit for employees who participate in 401k plans was in- creased from $17,500 to $18,000. The catch up contribution limit for employees age 50 and over increased from $5,500 to $6,000. Take advantage of this opportunity and keep saving for your future ! ARE you having enough WITHHOLDING this year? PAYROLL NEWSLETTER 2014-2015 Special points of interest:  Review your current W-4 Withholdings.  Use help from the IRS: Withholding Calculator  New Limits for contributions to your 401(K) Plans in 2015  Review your own personal information in your latest paystub.  Important Dates for last week’s of payroll in 2014 11/07/14 When do I get paid? The chart below reflects the cut-off dates for the final weeks of this year. It is important for you to review them to be sure that you submit your time sheets and/or vacation forms on a timely basis and be paid correctly: Pay Period Ending Date Time Entry Cut- Off: NOON Pay Date FRIDAY 11/08/14 11/10/14 11/14/14 11/15/14 11/17/14 11/21/14 11/22/14 11/23/14 11/28/14 11/29/14 12/01/14 12/05/14 12/06/14 12/08/14 12/12/14 12/13/14 12/15/14 12/19/14 12/20/14 12/21/14 12/26/14 12/27/14 12/28/14 01/02/15 Your Contribution to our Company is what makes us successful !! THANK YOU 401 (k) Questions? Changes! Payroll Department Phone: 813-988-8829 Ext 206 Fax: 813-988-8779 E-mail: nperez@comanco.com SAFETY * QUALITY * SERVICE
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