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Paycom Stands Out with Latest Accomplishment

Paycom continues to rake in the accolades, this time garnering its 11th-consecutive appearance on the Greater Oklahoma City Chamber’s Metro 50 list. Of the Metro 50 winners, Paycom’s 11-year reign of consecutive appearances is the most of any of the companies on the list.

“This is huge honor to be the longest-running member on this distinguished list,” Paycom founder and CEO Chad Richison said. “But even more, this award is an indicator that our unique business model has resulted in continued, steady and sustainable growth.”

The Metro 50 event is scheduled for Sept. 23 at the National Cowboy and Heritage Museum in Oklahoma City where rankings of all of the Metro 50 winners will be announced.

The accolade showcases the metropolitan’s fastest-growing private companies. Qualified companies are required to have revenues of at least $1 million for the previous year and will be ranked based on their percentage of annual growth.

Growth is the name of the game at Paycom. In the last 12 months, the online human capital management provider announced rapid growth with an addition to its headquarters and added the Inc. Hire Power Award which recognizes private companies that are leading the way in job creation. Stay tuned for more exciting news from one of the fastest-growing companies in America.



Author Bio: A writer, speaker and young business leader, Jason has been the communications pulse for a number of organizations, including Paycom. A featured writer on human capital management technology, leadership and the Affordable Care Act, Jason launched Paycom’s blog and social media channels, helping empower organizations around the nation. Jason is attuned to the needs of businesses and recently helped develop a tool to aid organizations in their pursuit to comply with the ACA; one of the largest changes in healthcare the country has seen. While working in athletics for ESPN and FoxSports, Jason learned the importance of hard work and branding. In his free time he enjoys adventuring with his family, reading and exploring new areas to strengthen his business acumen.

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North Dakota Alters Income Withholding Tables

In an effort to reduce income taxes for individuals, North Dakota’s governor recently signed Senate Bill 2349 which will retroactively reduce both individual and corporate taxes retroactive to January 1, 2015.

Subsequently, the North Dakota tax commissioner released new withholding tables in “North Dakota 2015 Income Tax Withholding Rates & Instructions, rev. June 2015” to correspond with the statutory tax cut.

Within the publication are two withholding methods available to employers:

Method One: Percentage of Wages

The percentage of wages method is widely recommended for all employers, but especially for organizations that process payroll through an outside vendor. This method is similar to the percentage method in place for federal income tax withholding passed down from the IRS’, Employer’s Tax Guide. In the new tables, withholding amounts that are less than $1 are not required to be withheld, and employees are able to withhold additional income tax.

Method Two: Withholding Tables

The second method is recommended for smaller companies that process their payroll manually. This method is similar to the wage bracket method described in the IRS’, Employer’s Tax Guide. With method two, non-computerized organizations that issue manual payroll checks can utilize the new tables in order to calculate the appropriate withholding amounts.

Going Forward

Despite the changes in withholdings, organizations are not required to adjust withholding amounts to paychecks already issued. The law also does not require employers to withhold future amounts to account for any over withholdings that may have occurred in previous pay periods.

Under the new tax withholding guidelines, single and married employees alike should benefit by taking home more money with each paycheck.

With this potential change in mind, companies need to be equipped with the proper technology that can quickly accommodate new developments in order to maximize efficiency throughout the workforce. For users of the Paycom system, these changes have been implemented within the system, and employees should notice slightly larger take-home pay going forward.



Author Bio: Barclay has over 20 years of experience working as a consultant. He has worked in the consulting practices of accounting firms Ernst & Young and Causey Demgen & Moore. Barclay joined Paycom in 2011 and is currently a Tax Research Analyst. Robbie is a graduate of Rhodes College in Memphis, Tenn.

gavel money hundreds

Affordable Care Act Subsidies Upheld: What You Need to Know

Yesterday, in a 6-3 decision, the U.S. Supreme Court upheld the federal subsidies of the Affordable Care Act (ACA) by ruling that the tax credits for health insurance are authorized in the 34 states that have a federal marketplace.

As a result, subsidies will remain available for qualifying individuals, regardless of whether they obtain coverage on a state or federal exchange.

What This Means for Employers

Because the Supreme Court ruled in favor of the federal government’s position, individuals will remain eligible for subsidies. However, employees eligible for employer-sponsored health plans may not be eligible for subsidies through the marketplace, so long as the employer-sponsored plan meets affordability standards under the ACA.

Employees are eligible to pursue health insurance through the marketplace only if the employer does not provide coverage that the ACA considers “affordable” (if the employee’s share for the lowest-priced plan does not exceed 9.5 percent of his or her annual household income) and meets the ACA’s standard of providing “minimum value” (by paying at least 60 percent of the cost for medical services).

Employers should continue to take control of their ACA compliance. All requirements remain as usual. Employers held to the ACA mandate still must handle reporting data to include the measurement, stability and administrative period. For Applicable Large Employers (ALEs), filing with the IRS remains mandatory and statements must be provided to full-time employees regarding health coverage.

Cadillac Tax: Still an ACA Hot Topic

In addition, employers with high-cost health plans may wish to consider paring back benefits in order to dodge the 40-percent excise tax that goes into effect in 2018. This so-called “Cadillac tax” applies to plans in which benefits exceed $10,200 for individuals and $27,500 for families.

Experts estimate that 60 percent of employer plans will exceed the individual and family limit by 2018.

Compliance Tools   

When it comes to the ever-complex, ever-changing ACA, more than two-thirds of businesses still are not compliant. Paycom can erase the concerns by eliminating the threat of noncompliance.

For compliance free of pain, stress and costly fines, our new Enhanced ACA solution offers the convenience of having all your ACA data in a real-time dashboard, plus Forms 1094/95-B or -C are filed with the IRS timely and accurately on your behalf.

Add Paycom’s Enhanced ACA to your all-in-one human capital management solution today.

The content of this blog is intended to keep interested parties informed of legal and industry developments for educational purposes only.  It is not intended as legal opinion or tax advice and should not be regarded as a substitute for legal or tax advice.



Author Bio: A writer, speaker and young business leader, Jason has been the communications pulse for a number of organizations, including Paycom. A featured writer on human capital management technology, leadership and the Affordable Care Act, Jason launched Paycom’s blog and social media channels, helping empower organizations around the nation. Jason is attuned to the needs of businesses and recently helped develop a tool to aid organizations in their pursuit to comply with the ACA; one of the largest changes in healthcare the country has seen. While working in athletics for ESPN and FoxSports, Jason learned the importance of hard work and branding. In his free time he enjoys adventuring with his family, reading and exploring new areas to strengthen his business acumen.

small dinosaur scared business man

When Good Intentions Go Bad: 5 Lessons from Jurassic World

The greatest flaw in intent is how often good intentions go bad. It doesn’t matter if you “didn’t mean to” offend someone; regardless, they’re upset and you have to figure out how to move on.

The best example of good intentions going bad is playing, currently at a theater near you. The box-office blockbuster, Jurassic World, resembles anyone’s worst day at work. You set out to do better for the company, yet something goes horribly wrong. Spoiler alert: In this case, it’s an out-of-control Indominus rex dinosaur that takes out its aggression at the cost of people’s lives.

While this may not be the reality you face on a day-to-day basis, you inevitably will experience your own form of destruction, despite your good intentions. Claire, Jurassic World’s operations manager, was only doing her job creating a new attraction to draw in more revenue for the theme park. I don’t think she intended for people to lose their lives in the process, but it happened.

So, what is one to do if you happen upon your own Indominus rex? Don’t run! Instead, here are five ways to recover.

  1. Have a plan. To avoid having to make repairs, start with a prevention plan. During the development stages, look for points of weakness where you feel less confident of the outcome, and patch up the cracks.
  1. Promote a problem-solving culture. When we get sucked into sticky situations, cooler heads seldom prevail. Be on the lookout for individuals who shine under pressure and put them up to bat when a problem emerges. You need your best on the front lines when chaos erupts.
  1. Keep lines of communication open. Sometimes the difference between a good outcome and a bad one has a lot to do with communication. Effective communication unites a team and, if done correctly, allows you to deal with potentially harmful issues before they come to fruition.
  1. Play devil’s advocate. The stress of tight deadlines often pressures us to make unruly decisions. The last thing you want is a solution that creates more bad than good. Don’t be afraid to question the plan. If something isn’t working, step back and assess the situation. What can be done differently? Stick to your guns, but be ready with plan B and C if plan A isn’t panning out.
  1. Learn from your mistakes. One intention can result in a number of outcomes. So, even if the outcome is bad, it isn’t a total loss. There is always something to be learned, even from the worst mistakes.

Despite your best intentions, everyone slips up at some point. Challenge yourself to incorporate the aforementioned tips into your plan so you’re ready when Indominus strikes. It may not be good advice for a summer-movie sensation, but it’s good for business.



Author Bio: Lauren is an enthusiastic writer who is passionate about numerous topics surrounding the HCM industry including talent management and acquisition, technology, document management and leadership, just to name a few. Lauren has been with Paycom for over a year and has taken on roles as a blogger, social strategist and community relations coordinator. In her spare time she enjoys DIY“ing,” exploring the city and keeping up with her two dogs, Deacon and Cookie.

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