I Didn’t Know That. Did you?

  • How do you know what you don’t know? Do you know what you don’t know? Ok, so that may sound like a bunch of fancy jargon, but read it again. It is quite simple. We are in a business to sell a product or provide a service that is in our area of expertise. Or at least let’s hope you are finding what you are doing rewarding and in more ways than one. If not, that is another blog for another day.

    Let’s take the approach we are successful experts at what we do. Here are some examples of information I have recently read, confirming that I don’t know what I don’t know.

  • Did you know:
    • Beginning in 2016, W2s and W3s will need to filed with the government by the end of January instead of the end of February. Confused as to whether this pertains to 2015 payroll or starts with 2016 payroll? If you or the person doing your payroll is not a payroll expert, you should be outsourcing payroll to the experts who know this sort of information. Source-Bloomberg BNA
    • The Cadillac tax on high value health plans has been delayed from 2018 to 2020.  In addition, any tax being paid will now be deductible by the employer.  In the original bill it was not. If you are not well versed in the complex details of this deduction, you should hire a Health Insurance Advisor expert to sort thru and assist. Contact a qualified Tax Expert for the details of how this affects your company and your employees.
    • The ACA (Affordable Care Act) required reporting is very complex. You should have an HR Expert working with your CPA or Accounting team and your insurance carrier to compile the details needed to be obtained for this required reporting.

So, did this affirm that you should conceded to the statement, ‘I don’t know what I don’t know’? Make 2016 the year you decide to allow the Experts to assist your company’s needs allowing you to spend time on the company and not in the company. It’s time to lead your company and set the example. In your industry, you are the Expert that your customers contact. Now it’s time to be the customer and go to an Expert in an industry that you don’t know what you don’t know.