The Economic Stimulus Plan and Your Business
The Economic Stimulus Plan and Your Business
President Obama’s economic stimulus plan means change — and Paychex is ready. Is your business prepared? Paychex has been monitoring the stimulus plan, as well as several additional economic proposals, to help you understand how they may affect you, your business, and your employees.
What is the Economic Stimulus Plan?
Signed into law on February 17, the American Recovery and Reinvestment Act of 2009 is a plan to grow the economy through tax relief and investments in health care, energy, and education.
What Does It Mean for Your Business?
Paychex has been following several provisions that could have a significant impact on your payroll, taxes, and retirement plans.
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- A tax credit for workers, administered through employer payroll. Updated 2/26/09
- Premium assistance, a special election period, and an additional plan enrollment option for COBRA recipients. Updated 2/26/09
What is the Status of Other Economic Proposals?
Beyond the economic stimulus plan, Paychex is monitoring several proposals for economic growth, including:
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- A federal minimum wage increase.
- Penalty-free withdrawals from retirement accounts.
A provision to suspend the required retirement plan distribution for those aged 70½ and older was passed in December, 2008.
Are You Ready for What’s Next?
Every year, Paychex monitors thousands of changes in local, state, and federal laws that affect our more than 572,000 U.S. business clients. No matter the outcome of the stimulus plan and other economic proposals, you can be assured that we will continue to take care of the administrative details — so you can focus on running your business.
Keep Up with the Latest Legislation
Please bookmark this page and visit often for the latest updates on the economic stimulus plan, as well as other pending government legislation.
For information about Paychex products and services, please complete our product request form for a no-obligation quote or feel free to contact Martha Jane Walker of Paychex at 678.699.5988.
Any information provided by this website may no longer be viable subsequent to its issuance. Any information it provides is developed at the time of its issuance based upon facts and circumstances known at that time.
Provide here by John Dillard is a Speaker/Author and Certified Public Accountant (All Rights Reserved). To See how he takes Christ along with him to work visit http://www.hiscpa.com/ (An Atlanta CPA firm) and for his latest book Overcoming Life’s 9/11’s: Job’s Journey visit http://www.john-dillard.com/ To contact John Dillard CPA (Atlanta Christian Author/Speaker) today call 770. 814.9304.
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Sphere: Related ContentRelated posts:
- Economic Stimulus Act of 2008…Jumpstarting the U.S. Economy
- American Recovery and Reinvestment Act of 2009 (ARRA)
- New Stimulus Bills Passed by Congress…Utilizing IRS & State Tax Credits
- Senate Hearings/Economic Crisis…Is Congress Listening?
- Securing Retirement Income in a Turbulent Market: Look Beyond the Numbers
