Ashley is Pulford Insurance’s Vice President of Operations and Account Manager. She’s been complementing our team and helping us become successful since 1998. Ashley has focused her attention on working with organizations such as agriculture, contractors, retailers and manufacturers. Using our top insurance markets, Ashley has been able to help these businesses by offering cost effective insurance and risk management programs.
Ashley is a graduate of Boston College and continues to develop her insurance knowledge by pursuing a professional designation as well as continuous educational classes for property and casualty. Ashley is an active participant in the community and was a past president and several time board member of the Insurance Brokers and Agency of the Monterey Bay.
If you are interested in a quote for your business insurance, Ashley is a wealth of knowledge and more than happy to help. Contact her at pulford1@redshift.com or (704) 489-2096.
Reminder: March 15, 2012 – Last day for corporations to file their 2011 taxes using Forms 1120, 1120A, and 1120S (April 17th, this year, for individuals).
Pulford Insurance wants to help insure success for your business.
We hope you find these current developments in tax laws helpful to your business.
Pending Legislation: There are a number of bills currently being debated, which could change payroll tax rates for both employee and employers.
Retirement Test Amounts: Anyone reaching the age of 66 years in 2012 has reached “full retirement age” (FRA), and can earn any amount after that point without affecting their Social Security benefits. Workers who will reach FRA in 2012 can earn $3,233 per month in the months before reaching FRA. Workers who will not reach FRA until after 2012 and are receiving benefits can earn up to $14,640 before benefits are reduced.
Mileage: The standard mileage rate for computing the value of an automobile for business use is 55.5 cents per mile as of January 1, 2012.
Per Diem Rates: Effective October 1, 2011, the IRS’s high/low per diem rates were changed to $177/$111 for lodging and to $65/$52 for meals and incidentals.
401(K) Deferrals: The maximum elective deferral amount you will be allowed to contribute to your 401(K) will be $17,000 for 2012. The catch-up limit for additional contributions by employees age 50 or older is $22,500.
ISU-Pulford Insurance wants to help make your business successful. We’d like to pass along the following new California laws that started January 1, 2012. See the entire list from HR California, here.
Pregnancy Disability Leave SB 299 requires all employers with five or more employees to continue to maintain and pay for health coverage under a group health plan for an eligible female employee who takes Pregnancy Disability Leave (PDL) up to a maximum of four months in a 12-month period.
Willful Misclassification of Independent Contractors SB 459 provides new penalties of from $5,000 to $25,000 for the “willful misclassification” of independent contractors. Existing law prescribes comprehensive requirements relating to minimum wages, overtime compensation, and standards for working conditions for the protection of employees applicable to an employment relationship. This bill would prohibit willful misclassification, as defined, of individuals as independent contractors.
Notice of Pay Details AB 469 requires employers to provide nonexempt employees, at the time of hire, a notice that specifies: 1. The rate of pay and the basis, whether hourly, salary, piece commission or otherwise, including any overtime rate. 2. Allowances, if any, claimed as part of the minimum wage, including meal and lodging allowances. 3. The regular pay day designated by the employer as required under the Labor Code. 4. The name of the employer, including any “doing business as” names. 5. The physical address of the employer’s main office or principal place of business and any mailing address, if different. 6. The telephone number of the employer. 7. The name, address and telephone number of the employer’s workers’ compensation carrier.
Farm Labor Contractors – Wage Notices AB 243 amends the Labor Code to expand the information that must be included on pay statements, but only for farm labor contractors. Employers that are farm labor contractors must now disclose on the itemized payroll statement furnished to their employees, the name and address of all legal entities (for example other growers or other farm labor contractors) that secured the employer’s services.
Agricultural Labor Relations SB 126 affects certification of bargaining representatives for agricultural employees. The new law, SB 126, provides that if the Agriculture Labor Relations Board (ALRB) finds employer misconduct that “in addition to affecting the outcome of the election, would render slight the chances of a new election reflecting the free and fair choice of employees,” then the ALRB can certify the labor union as the exclusive bargaining agent for employees.
Workers’ Compensation Legislation AB 335 – Requires the workers’ compensation administrative director (AD) to work with the Commission on Health and Safety and Workers’ Compensation (CHSWC) to develop regulations regarding notices to injured workers; requires AD and CHSWC to develop and make accessible a booklet written in plain language about the workers’ comp claims process; streamlines and simplifies other notices to employees. AB 378 – Lowers workers’ compensation costs by establishing guidelines for dispensing compound drugs, the circumstances under which those drugs would be covered and the reimbursement amount, and removes the incentives for physicians to refer patients to pharmacies in which the physician or physician’s family has a financial interest. AB 397 – Seeks to address the underground economy problem by singling out contractors that do not have workers’ compensation coverage but requiring contractors that are exempt from having coverage at the time they are licensed to certify they are still exempt or have gotten coverage at the time of their license renewal. AB 1168 – Lowers costs for employers and insurers by establishing a fee schedule for vocational experts’ services. AB 1426 – Streamlines the workers’ comp process and eliminates duplicative bureaucracy and inconsistency by eliminating the court administrator position
Hi Friends! As you may know, Pulford Insurance is dedicated to helping our clients and community be profitable businesses. As tax time approaches, we’d like to pass along some tax info:

SOCIAL SECURITY AND MEDICARE:
The “Payroll Tax Holiday” is still in effect through February 28, 2012.
Employee rate for Social Security is 4.2% on wages to $110,100 for January and February 2012. This “holiday” may be extended until December 31, 2012 – or the rate returns to 6.2% effective March 1, 2012.
Employer rate for Social Security will stay the same at 6.2% on wages to $110,100
Employee Maximum Social withholding – unknown as of this date
Both employee and employer rate for Medicare is 1.45% on all wages
There is no maximum Medicare withholding




