All of our offices will be closed
Friday November 11, 2022 in honor of Veteran's Day
-and-
Thursday and Friday November, 24 & 25, 2022
to enjoy the Thanksgiving holiday.
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Payroll Quarterly Reports will be posted to Employer on the Go by November 5.
Year End Prep
In preparation for the upcoming 4th quarter and W-2 deadlines, please be sure to send in any year-end pay items to your Payroll Specialist. Items such as:
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Any missing social security numbers or contact information for your employees *this is a W2 requirement
- Personal Use of Company Car
- S-Corp Health
- Group Term Life in excess of $50,000
IRS Notice CP136
You should be receiving IRS Notice CP136 which states your 2022 deposit requirements for form 941. Please forward this notice to your payroll specialist so that we know what schedule your federal payroll taxes need to be deposited on.
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Act Now to Avoid Taxes On Non-IRA Losses |
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If you have mutual fund investments in non-IRA accounts – you’re about to be taxed even though you’re losing money this year. Fortunately, there is time to do something about it if you take action now. This article is intended to explain what is happening and how we can avoid it if we act quickly.
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New Service Announcement: HR Complete
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Allied Payroll Services is excited to announce a third tier to our HR online services, HR Complete.
With HR Complete you will have a dedicated HR Advisor who will work with you to provide comprehensive HR protection and support your organization.
Best Fit For
Employers with 25-150 employees looking for dedicated HR compliance support.
What's Included
- On-demand consulting with a dedicated HR Advisor
- Custom, multi-state handbook development with consultation
- Harassment prevention training,
- Job description and document customization
- In-depth HR audit
- HR compliance action plan and compliance deliverables
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NYS Seed Funding Grant Program |
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The New York State Seed Funding Grant Program was created to provide assistance to early-stage small businesses to success in a recovering New York State economy.
Eligible Applicants must provide evidence, acceptable to New York State that the Eligible Applicant is operational and meets the Program requirements. As part of the application each micro-business, small business, or for-profit arts and cultural organization including independent arts contractors shall provide sufficient documentation in a manner prescribed by Empire State Development ("ESD") to demonstrate Program qualification.
Only one grant per business EIN or SSN is allowed. Due to a limited amount of funding and the high volume of requests expected, business type, geography and industry may factor into ability to receive a grant.
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Is The 60/40 Portfolio Dead or Just Dazed? |
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2022 has been a tough year for both stocks and bonds. This synchronized selloff in stocks and bonds has dealt a blow to one of the most popular strategies for long-term investors: the 60/40 portfolio.
This portfolio is a mix of 60% stocks and 40% bonds. The popularity behind the 60/40 portfolio stems from the key principle of diversification to seek growth potential from stocks while adding protection from conservative bonds for a more stable outcome over the long term.
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Through the end of September 30, 2022, this portfolio using 60% in S&P 500 index and 40% in Bloomberg US Aggregate Bond Index, the most commonly used bond index, is down roughly 20%. With such a devastating year, we explore if this is normal, just how bad it can get, and what’s next for investors. Click here to read the article.
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NYS Child & Earned Income Tax Payments |
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New York State will be sending one-time checks to eligible taxpayers for up to two additional payments, one based on the Empire State child credit, and one based on the earned income credit.
If you are eligible, you don't need to take any action. New York State will automatically send you a check if, for tax year 2021, you received at least $100 for either or both of the following credits from New York State:
- an Empire State child credit
- a New York State earned income credit (or noncustodial parent earned income credit)
Checks will be mailed from October through the end of the year.
Am I eligible?
You are entitled to a payment if, for tax year 2021, you received at least $100 for either or both of the following credits from New York State:
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Labor Law Poster E-Update Service |
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State and federal law requires employers to post labor law notices in the workplace. These mandatory postings include the OSHA Posting, Federal Minimum Wage, FMLA, USERRA and various state specific notices. Failure to post mandatory labor law notices can result in hefty fines and lawsuits. We have made these state and federal notices available to you in laminated All-In-One State & Federal Labor Law Posters backed by an Update Service subscription.
E-Update Service Includes:
- Fully laminated, high quality print posters
- QR code and posting legend on each poster for simple compliance tracking
- Attorney-approved notices
- $25,000 fine guarantee
How It Works
- Receive your All In One State and Federal Labor Law Poster.
- When a change occurs, you will receive a call and email alert with the updated posting.
- Print the updated posting and display it at your location.
- Receive an updated All In One State and Federal Labor Law Poster on the anniversary of your subscription.
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E-Update Labor Law Poster Service is available for only $10.00/month.
To sign up, contact your payroll specialist
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Giving Season at Allied Financial Partners
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At Allied Financial Partners, we value the communities in which we live and work. Over the course of the year we volunteer our time and talents to a variety of organizations as well as sponsor a number of community events.
As the holiday season approaches, each of our offices have selected an organization to support. In addition to doing something good for others, this is a great team-building opportunity for our employees.
So, what will we be doing?
Buffalo
Cooperstown/Oneonta
Perry
Employees in the Perry office will be collecting donations for the
Rochester/Victor
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This month features the 3 groups most stock market analysis falls into, the importance of protecting your home against flood loss, common pitfalls to avoid during a divorce, and ideas on how to stop wasting money.
Your Money Matters is a monthly blog post that pulls together financial articles and videos of interest. We hope you enjoy!
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Payroll Clients: In light of growing fraudulent direct deposit claims, please verbally confirm with your employee if you receive an email notification of a bank account change before you send the change to you payroll specialist.
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Help our team grow!
Allied Financial Partners is always looking to attract new talent. If you or someone you know is interested in joining our team check out the opportunities page on our website.
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Online Credit Card Payments Payments to Allied CPAs, PC and Allied Payroll Services can be made online at www.alliedfp.com. Look for the Make A Payment button on the top right corner of our website. AFP accepts Mastercard, VISA and Discover. Please note: Electronic payments cannot be accepted for financial planning or investment services.
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Buffalo | (716) 694-0336
Cooperstown | (607) 282-4161
Oneonta | (607) 432-3462
Perry | (585) 237-3887
Rochester | (585) 410-6733
Victor | (585) 410-6733
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Is the content of this email relevant to you?
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Allied Payroll Services is bonded.
Securities offered through Registered Representatives of Securities America, Inc., a broker-dealer, member FINRA/SIPC. Advisory services offered through Securities America Advisors, Inc., a Registered Investment Adviser. Tax services provided by Allied CPAs, PC. Allied Financial Partners and Allied CPAs, PC are not affiliated with Securities America.
To be eligible for the Rochester Chamber Top 100, businesses must be privately held, headquartered in the nine-county Rochester region, and have earned at least $1 million in revenue in each of the three most recent fiscal years. The Rochester Chamber Top 100 is computed based on revenue growth, taking into account both dollar and percentage growth.
Top Workplaces Award is given based on employee survey results.
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