Thank you for another great year with COATS. This year has brought many changes, including some record growth for the staffing industry, and a brand-new tax law that will affect us all (see below!).
We hope that you all have a safe and happy holiday, and we look forward to an exciting 2011 with you!
All my best,
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 The New Tax Law and COATS
This past Friday, President Obama signed H.R. 4853, the Tax Relief Unemployment Insurance Reauthorization and Job Creation Act Of 2010, into law. This law will affect every U.S. employer in several areas of payroll, tax and benefits administration, starting in less than two weeks. The employee Social Security tax rate for wages paid in 2011 has been reduced to 4.2 percent from 6.2 percent. The Social Security wage base remains $106,800, and the employer Social Security tax rate remains 6.2 percent. The maximum Social Security withholding for 2011 will be $4,485.60, compared to $6,621.60 for 2010.Since the signing of the act, COATS programmers have been diligently working on the change. We hope to have the update before the first payroll of 2011; however, this allows us less than three weeks for creating, testing and implementing a significant tax change. We will do our best to provide the changes as soon as possible and definitely before the required date of January 31. The official IRS site for the new regulations is here.
The Work Opportunity Tax Credit will be extended through 2011, but the Hiring Incentives to Restore Employment Act (also known as The HIRE Act - W11) will end on December 31, 2010. More information on the Work Opportunity Tax Credit can be found here.
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 Coming Soon: COATS Standard Version 9.0
We are proud and delighted to introduce COATS Standard Version 9.0 this winter. We've listened to your requests for enhancements and new features, and have prepared these new releases to enhance your businesses' efficiency and security.
Top new features in COATS Standard include:
- Free text messaging from within the COATS interface
- An option to offer candidates the Global Cash Card
- Updated Social Security Employer/Employee tax rate wages
To learn more about these and other new features, and to update your manuals, visit the COATS Customers Only site.
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Feature Focus: Budget in General Ledger
 One of the most powerful tools in COATSsql's General Ledger module is the new Budget feature, introduced in Version 4.0, which was released earlier this month.
The flexibility within this feature is amazing: - You can create budgets for individual branches, or aggregate all branches into one uber-budget.
- You can create budgets for any year thus far, going back to the first year in which you have COATSsql data entered.
- You can adjust budgeted income to 90% of actual income, and budgeted expenses to 110% of actual expenses, building in a solid cushion.
The power of budgets is obvious: not only are they useful for monitoring expenditures, they can also be used for comparative analysis in financial statements, for analyzing patterns in your business and for predicting possible trends in the future. Creating budgets in COATSsql lets you anticipate the future by looking at the past.
To learn how to implement this feature, download the white paper.
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COATS Cases: "We Needed a Solution"
 Since 1997, the staff at Pro Image Solutions, Inc. has gained a reputation as Orlando's premier professional full-time placement service. The experienced, knowledgeable staff at Pro Image has placed hundreds of skilled individuals each year into real full-time jobs with major firms in the Orlando metro area. They are committed to going the extra mile for timely, efficient placement of skilled individuals in a variety of positions and careers.
With high demands on staff and growth, Pro Image Solutions needed a software solution that delivered solid performance and a low learning curve. Pro Image forms long-term relationships with their clients by providing exceptional customer service with professionalism, integrity and ethical business practices, and they expected the same from their software partner.
To learn more about how Pro Image Solutions used COATS to grow, read the rest of this case at our blog.
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Time to Order W2s
COATS Standard and COATSsql use the L4UP format for laser-printed W2s. The forms are now available from our Authorized Forms Dealer; order them now by clicking here. |
 IT Department Contacts:
COATSsql Users on SQL Server 2005 SP1 and SQL Server 2000 SP4, click here.
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Miss a Newsletter?
COATS has been sending an emailed newsletter since August of 2008. If you missed one of our monthly newsletters, click below to see what you've missed!
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LinkedIn SURVEY
If there were a COATS Users Group on LinkedIn, would you join?
For more information, take our survey here!
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Compliments of:
Stacey E. James
Littler Mendelson P.C.
501 W. Broadway, Ste. 900
San Diego, CA 92101-3577 (619) 232-0441
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