Premier Payroll
Client New-year Guide
Valued Client,
We have designed this New-Year Guide with you in mind, bringing together important information and dates to be aware of so we can kick-off the New Year with a bang!
We look forward to the new year and serving you!
Best Regards,
The Premier Payroll Team
Your Action Items:
State Deposit Frequency & Unemployment Rate Notices
Keep an eye out for notices from tax agencies sent directly to you stating Deposit Frequency and Rate Changes for the upcoming year. State agencies do not send these notices directly to Premier Payroll; please forward any notices from tax agencies to us when received.
State/Local Minimum Wage Updates
Minimum wage changes are common at the beginning of the year. Please see the link below and review your employee pay rates to ensure your business is meeting legal requirements.
isolved People Cloud App
Stay connected with your payroll information! The iSolved People Cloud app allows employees to access pay stubs, tax forms, and update personal information anytime, anywhere. Download it today from the App Store or Google Play.
Resources & Links:
Need to Know:
Important Year-end Dates
1/11 - Last day to make changes to W-2s without a W-2c.
1/15 - Year-end, W-2, and 1099 packages begin to be available online.
1/31 - Deadline to postmark/distribute W-2s & 1099s for employees & independent contractors.
2025 Retirement Account Contribution Limits
401(k), 403(b), and most 457 plan limits will be $23,500, and catch-up limit for employees over age 50 is $7,500.
IRA limit is $7,000, with a catch-up limit (over age 50) of $1,000.
2025 Health Savings Account (HSA) Plan Limits
The high-deductible limit for self-only coverage is $4,300, family limit is $8,550, and individuals over age 55 may contribute an additional $1,000.
2024 Payroll Data - Late Reporting
2024 Payroll data processed after December 30th is subject to a $250 adjustment fee.