Workforce Evolution - Helping Employers Navigate Workforce Impacts of COVID-19
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A virtual presentation on the how recent Acts of Congress and COVID-19 effect your business. We discuss tax deferrals, tax credits, loans, retention credit, and more!
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Workforce Evolution - Helping Employers Navigate Workforce Impacts of COVID-19
- 1. 1 Workforce Evolution - Helping Employers Navigate Workforce Impacts of COVID-19 |
- 2. bamboohr.com lattice.com Jenn McCabe Consulting, Partner Lisa Hagen HR Outsourcing, Sr Manager armaninollp.com
- 3. © Armanino LLP | armaninoLLP.com Armanino Overview LOCATIONSPURPOSE RECOGNITION & AWARDS SNAPSHOT Affiliate Companies To be the most innovative and entrepreneurial firm that makes a positive impact on the lives of our clients, people and our communities. • 1500+ Employees • Team Members in 22 States • In the top 25 Largest CPA & Consulting Firm
- 4. Agenda During the Webinar you’ll learn... Managing a Multi-State Workforce • Payroll & HR • Tax & Operations HR Legislation Impact on Payroll Management • Employee Retention Credit (ERC) • Families First Coronavirus Recovery Act (FFCRA) Employee Wellness Tracking • Tech-Enabled Return to Work
- 5. bamboohr.com lattice.com Managing a Multi-state Workforce armaninollp.com
- 6. bamboohr.com 15five.com Multi-state Workers - Payroll & HR 1. Payroll tax, for the employer 2. Employee multi-state income tax withholding and filing 3. Employee multi-state benefit plan admin 4. Workers Comp insurance requirements armaninollp.com
- 7. bamboohr.com 15five.com Multi-state Workers - Unintended Consequences 1. General liability insurance changes and disclosures 2. Business licensing in that jurisdiction 3. Business Personal Property tax filing 4. Sales Tax filing requirements 5. Ongoing quarterly tax filing, and monitoring of insurance requirements 6. Apportionment of revenue strategies and requirements 7. Organization income tax filing and reporting will now be required in the new state 8. The owners of the company will now have to file non-resident income tax returns in that state (PS this could be a good strategy in some cases!) armaninollp.com
- 8. bamboohr.com lattice.com HR Legislation Impact on Payroll Management armaninollp.com
- 9. bamboohr.com 15five.com FFCRA - Payroll To-do List 1. Document 2. Track (use tech!) 3. Report armaninollp.com
- 10. bamboohr.com 15five.com ERC - Payroll To-do List 1. Determine Entity Eligibility 2. Identify Eligible Wages 3. File 7200, 941 or 941X armaninollp.com
- 11. bamboohr.com 15five.com Employee Retention Tax Credit armaninollp.com If Govt COVID-19 Shutdown Partial Or Full Ok For PPP Loan Recipients Until The Loan Is Forgiven If Receipts Fall More Than 50% Qtr O Qtr Vs 2019 Either Next File Form 7200 File Form 941 If More Than 100 Staff Only Wages For Paid-not- productive Staff If 100 Or Less Staff All Paid Wages Are Eligible Employee Retention Credit 2020 $5000/Head Employer Tax Deferral OK For All Size Headcount
- 12. bamboohr.com lattice.com Employee Wellness Tracking armaninollp.com
- 13. bamboohr.com 15five.com Technology - Tech-enabled Return to Work ● Education ● Real Estate ● Professional Services ● Non-profits armaninollp.com
- 15. bamboohr.com 15five.com Employee User Experience armaninollp.com
- 18. bamboohr.com 15five.com Available Resources ● How to Manage the Various Payroll Tax Relief Measures in the CARES Act ● FAQ: Families First Coronavirus Response Act (H.R. 6201) ● CARES Act: How It Impacts Unemployment Benefits ● COVID-19 HR and Govt. Aide Q&A Session with Armanino Experts ● Effects of Remote Work on Employer Payroll Taxes and Expense Reimbursements ● Armanino Return to Work Resource Center ● Preparing for the Payroll Protection Program (PPP) – Video Series armaninollp.com
- 19. bamboohr.com 15five.com More Information About Armanino ● Connect with our team: Experts@armaninoLLP.com ● Access our COVID-19 Resource Center: armaninoLLP.com/covid19 ● Access our Return to Workplace Resource Center: armaninollp.com/articles/return-to- work-resource-center armaninollp.com
- 21. bamboohr.com 15five.com Employer Tax Deferral ● Deferred payroll tax program: ● Allows all employers to defer Social Security, 6.2%, for now and pay ○ 50% December 31st 2021 ○ 50% December 31st 2022. ● Can be coupled with the Tax Credit and the PPP* ● Payroll processors should do this immediately *CARES Act initially only allowed Deferrals through date of Loan Forgiveness determination. As of 6/5/20, The Flex Act confirms that PPP recipients can Defer through 12/31, regardless of PPP forgiveness. armaninollp.com
- 22. bamboohr.com 15five.com Employer Tax Deferral ● Eligible Employers ○ Either subjected to a partial or total shut-down of operations due to a government order OR ○ Suffer a 50% reduction in gross receipts quarter-on-quarter 2020 versus 2019 ● Eligible paid wages ○ for employers over 100, are wages paid to staff who are unable to perform their job duties. ○ for those who employ up to 100 employees are all wages paid. armaninollp.com
- 23. bamboohr.com 15five.com Families First Coronavirus Response Act or HR 6201 Overview ● HR 6201 aka Families First Coronavirus Response Act (FFCRA) ● Covers April 1 – December 31 ● Two main components: ○ Emergency Family & Medical Leave Expansion Act ○ Emergency Paid Sick Leave Act ● Types of paid leave available through FFCRA provided to employees who cannot perform their job duties and are not working: ○ Sick leave ○ Childcare leave armaninollp.com
- 24. bamboohr.com 15five.com Thank you! Follow BambooHR and Armanino on social media: bamboohr.com/blog | armaninollp.com armaninollp.com
Notes de l'éditeur
- EMILY: Hello and welcome to our webinar today! We have two great speakers from Armanino to discuss the topic of Workforce Evolution - Helping Employers Navigate Workforce Impacts of Covid-19. My name is Emily Chien and I am a member of the Partners Team here at BambooHR and I just want to start by saying thank you for joining us! Please feel free to submit questions throughout the webinar using the chat feature on the interface. We will have a Q&A session at the end of the webinar, time permitting, and will address as many questions as we can. Also, we will be sending out a copy of the slide deck and a recording of the webinar to all registrants within three business days, so check your inbox for that. Make sure to also check your spam folder if you don’t see it hit your inbox as some filters move our emails there.
- Emily Agenda Polls: To gauge the type of audience we have, let’s answer a few poll questions so we can tailor the presentation to our viewers. Pass to speakers
- EMILY
- EMILY
- EMILY
- Income of a sole proprietor or independent contractor that is a wage, commission, income, net earnings from self employment, or similar compensation not more than $100,000 in 1 year, as prorated for the covered period Sole Proprietor or independent contractors can apply using the sam
- FFCRA & Furloughs: Impacts for Employers Overall Impact Considerations Cost Savings Unemployment Employee Retention Effect on "forgiveness" component of Payroll Protection Plan (PPP) Loans Employer Retention Credits Who is eligible? What are the details to know? How does this coordinate with other government aid packages?
- EMILY: We want to give a big shout out to Jenn and Lisa from Armanino - thanks for teaming up with us on today’s webinar and for sharing your insights and best practices. Please make sure to reach out to our presenters on LinkedIn - they’d love to connect with you. And follow BambooHR and Armanino on social media. We both regularly deliver great content that can help elevate your teams and organizations and would love to see you at our next webinar.