Payroll is complicated, time consuming and can be overwhelming. But outsourcing your payroll to Yeo & Yeo is quick, easy and cost-effective. Yeo & Yeo offers flexible payroll solutions that are tailored to your needs - no matter what stage your business is in.

• Direct Deposit
  
• Custom Reports
  
• Vendor Checks
  
• Automatic Signature
  
• Quarterly Payroll Reports
  
• Enrolling and Use of EFTPS
  
• Mailing of Check and Vouchers to Employees
  
• Set up of Section 125 Plan and Pension Plans
  
• Preparation of 1099’s and W-2’s
  

Our payroll team, consisting of CPAs and staff accountants certified in the fundamentals of payroll processing, is knowledgeable in the latest changes in federal and state payroll tax rules and regulations. With Yeo & Yeo, you don’t have to worry about late or inaccurate tax filing, or staying abreast of the changing tax laws. Yeo & Yeo does that for you, assuming responsibility of accurate and timely payroll tax deposits and returns.

Payroll Updates

Preparing for Year-end Payroll

It is not too early to start planning and preparing for a smooth year-end. To make the job more manageable, use this Payroll Tasks Checklist throughout the year and especially during the last quarter.

Increase in Employers' FUTA Rate

The new FUTA tax rate for 2009 will be 1.1% on the first $7,000 of wages per employee. The old rate was .8%. Because of the reduction to the credit amount from 5.4% to 5.1%, the employer’s tax liability for every employee who earns $7,000 or more in 2009 will increase by $21 per year. For more details, refer to the State of Michigan FUTA Fact Sheet.

Making Work Pay Credit

The Making Work Pay credit was signed into law as part of The American Recovery and Reinvestment Act of 2009. The credit is 6.2 percent of a taxpayer’s earned income with a maximum credit of $400 for single taxpayers and $800 for married couples filing a joint return. The benefit is a reduction in federal withholding tax withheld from an employee’s paycheck. Learn more about about withholding and the Making Work Pay credit under the federal stimulus plan.

New COBRA Requirements Under Federal Stimulus Plan

The American Recovery and Reinvestment Act of 2009 imposes significant new COBRA obligations upon employers. Learn more>

Federal Minimum Wage Increase

An increase in the federal minimum wage took effect in July 2009.

Yeo & Yeo offers ultra-convenient, user friendly online payroll and accounting services for our Creative Solutions clients. For more information about our online client services, please contact one of Yeo & Yeo’s Payroll Professionals at 1-800-968-0010 or email us at cpa@yeoandyeo.com.