On May 2nd, the House passed a bill that is being called the Working Families Flexibility Act. • The Goal: To present a new way for employees to compensate a heavy workweek with more time off in the future, rather than the extra overtime income during that pay period worked. • Employee Choice: Employees who… Read more »

The IRS has released Form W-4, Employee’s Withholding Allowance Certificate, for use by employees and employers in 2017. Form W-4, released Dec. 23, must be completed by employees to ensure that employers withhold the correct federal income tax from their pay. A new W-4 should be renewed annually and after an employee experiences changes in personal… Read more »

As you are most likely aware, Amendment 70: Raise Colorado’s Minimum Wage was on this year’s ballot. With over 55% of voters in favor of the raise, the increase will go into effect January 1st, 2017.   Please know as a client of TLC you will be provided a Federal and State labor law poster within the… Read more »

On October 27th, the IRS announced cost of living adjustments affecting dollar limitations for pension plans for the 2017 tax year. Most of the pension plan limits remain unchanged from 2016 to 2017.   Listed below are the maximum benefit and contribution limits for 2016 and 2017:   Type of Limitation 2016 2017 401(k) /… Read more »

Colorado citizens will vote on the controversial Amendment 69 this November. Make sure you are aware of the pros and cons for the arguments and prepare your business for potential changes.   What will Amendment 69 do? If passed, it would create a universal health care system for the state of Colorado that extends to… Read more »

The hourly minimum wage in Colorado is expected to increase to $8.56 from $8.31, and to $5.54 an hour for tipped workers from $5.29, effective January 1, 2017, according to Bloomberg BNA calculations. The calculations were based on Colorado statutory guidelines and a 3 percent increase in the consumer price index for all urban consumers… Read more »