The New Year brings with it a time for new hopes and new beginnings. For all of us in business it also usually brings many new laws, regulations and filings. In an effort to ease the paperwork burden many forms can now be completed online. It still requires effort to assemble the data but at least we’re saving some trees.
This year you should be using the 2010 version of the W4 for income tax withholding. This only applies to new hires and those who are changing their withholding status. New hires must also complete the new version of the I-9 form. This form is meant to verify whether a new hire is eligible to work in the USA. These forms are available on the US DOL web site and the IRS website. Changes to the FMLA law also require an updated posting for those who are subject to this law. Many of the state postings and even many of the federal postings are also available on the NH DOL and Mass DOL websites. Unless you use a payroll service that completes the NH New Hire Reporting form for you, you must also complete this form for your new hires and forward it to the state.
Many businesses are also subject to other reporting requirements under the NH Workers Compensation Law. Current NH law requires that employers with ten or more employees must complete a Safety Summary Form every two years. This is very easy to overlook since it is only required every other year. This form may also be completed online these days. This same law also requires all employers with five or more employees to establish a Safety Committee comprised of an equal number of employer and employee representatives. If you have ten or more employees (whether full-time, part-time or seasonal) you must develop a written Safety Plan and a temporary alternative duty program in addition to the Safety Committee. You should consult your WC carrier’s loss control department for any assistance in developing these plans. This service is usually priced into your rates so take advantage of what you are paying for. The result should translate into lower rates as your safety performance improves. These days especially, lowering expenses is critical.