Managing regulatory compliance can mean navigating hundreds of regulations and reporting requirements. This is a huge undertaking and would be, quite simply, an inefficient use of your business’s time and resources. Tilson provides the expertise, knowledge, systems and, most of all, peace of mind you need to ensure you’re compliant. We stay up to date on all existing and potential employment regulations and reporting practices.
For a typical U.S. company, approximately 19 percent of its payroll expenditure goes to compliance with federal regulations. Furthermore, according to the Small Business Administration (SBA), smaller firms spend roughly 36 percent more per employee than larger companies on compliance. As your integrated management solution, Tilson takes the reins on regulatory compliance, providing business owners and CEOs with peace of mind while saving them time and money.
Below are some of the labor laws that businesses (depending on size) must be compliant with:
U.S. health care reform, also known as the Affordable Care Act (ACA) and often referred to as Obamacare, is a complex topic and one that can be overwhelming for companies trying to ensure that their payroll, benefits, and human resources policies and programs comply with all facets of the law.
The law itself features more than 70,000 pages of regulations. Additional new regulations are released weekly with multiple agencies engaged in implementation, including the Department of Treasury, Health and Human Services and the Internal Revenue Service as well as various state-level agencies. Tilson’s team of health care specialists is committed to keeping up to date on all aspects of the ACA in order to give our clients the confidence in knowing that they are fully compliant.
Tilson provides the following services related to the ACA:
Education for employees
Required communications to employees
Consulting on health care plans and contribution strategies
Reporting to IRS and HHS
W2 reporting
Validation of coverage and earnings information for subsidy requests
For more information on health care reform, or to discuss how to begin implementing our regulatory compliance services for your organization, please contact a Tilson representative today.
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According to the Small Business Administration (SBA), the average annual cost of regulation, paperwork and tax compliance for companies with under 500 employees is about $5,000 per employee.