Vision Payroll

A plan that allows employees to purchase their health insurance before tax. This plan results in significant savings for the employee and employer.

The tax that funds Medicare. Almost all employees are subject to Medicare which currently has a tax rate of 1.45% on all eligible wages. The employer must match the tax in all cases.

A plan in which employees can put away money, before tax, to use later in buying medical products that are not covered under the employers health plan. This plan results in tax deductions for the employee and employer and allows for savings for medical products.

Federal unemployment tax. Sometimes known as FUI. This tax is paid exclusively by the employer. Most for profit companies are subject to this tax which currently is .8% of the employee’s first eligible $7000.

Sometimes abbreviated FWT. The tax taken from the employee with each payrun that contributes to the employee’s payment of federal income tax. The amount is determined by the IRS and by the employee’s choice of marital and dependent status on their Form W-4.

The tax that funds the Social Security Administration. Almost all employees are subject to FICA which currently has a tax rate of 6.2% on the first $102,000 of eligible wages. The employer must match the tax in all cases.

The automatic deposit of an employee’s check into a bank account or onto a paycheck debit card of their choice.

Automated Clearing House (ACH) is the name of an electronic network for financial transactions in the United States. ACH processes large volumes of both credit and debit transactions which are originated in batches… ACH credit transfers include direct-deposit payroll payments and payments to contractors and vendors. ACH debit transfers include consumer payments on insurance premiums, mortgage loans, and other kinds of bills. Businesses are also increasingly using ACH to collect from customers online, rather than accepting credit or debit cards. (from Wikipedia)

You can download HIRD Forms (Employee Health Insurance Responsibility Disclosure) here: 2009 HIRD Form 2010 HIRD Form

You can download a Check Signature Form here: Check Signature Form