DK/RK Services has announced specialized bookkeeping consultancy services to help Denver businesses navigate Colorado's Family and Medical Leave Insurance (FAMLI) program payroll compliance requirements that took effect in 2024. The announcement addresses the complex payroll deduction and remittance obligations that Colorado employers must manage under the state-mandated insurance program.
The FAMLI program requires Colorado employers to withhold employee contributions from wages and remit both employer and employee portions to the state quarterly. Beginning January 1, 2024, employers must calculate premiums at 0.9 percent of wages, with specific allocation requirements between employer and employee contributions. The program adds layers of complexity to existing payroll processes, requiring precise record-keeping and timely filing of quarterly reports.
"Colorado's FAMLI program introduces significant payroll compliance challenges that many businesses are unprepared to handle," said Dottie Korbe, founder of DK/RK Services. "The requirements for premium calculations, quarterly reporting, and employee notification create additional administrative burdens that require specialized knowledge and systematic approaches to ensure compliance."
DK/RK Services Bookkeeping Consultancy in Denver provides comprehensive payroll compliance support including FAMLI premium calculations, quarterly wage report preparation, and integration with existing payroll systems. The firm assists businesses in establishing compliant payroll processes that accurately track wages, calculate appropriate deductions, and maintain required documentation for state audits.
The FAMLI program affects nearly all Colorado employers with one or more employees, with limited exceptions for certain government entities and businesses that have approved private plans. Non-compliance can result in penalties, interest charges, and potential legal action from the state. The program's complexity increases for businesses with variable pay structures, multiple work locations, or remote employees working across state lines.
Beyond FAMLI compliance, the consultancy addresses related payroll challenges including updated IRS record-keeping standards, multi-state payroll tax obligations, and integration with Colorado's unemployment insurance and workers' compensation requirements. The firm provides QuickBooks setup and configuration specifically tailored for FAMLI tracking, ensuring accurate reporting and seamless integration with existing accounting systems.
"Proper configuration of accounting systems for FAMLI compliance requires understanding both the technical requirements and the underlying regulations," added Korbe. "Many businesses discover compliance gaps only after receiving notices from the state, at which point corrections become more complex and potentially costly."
DK/RK Services Bookkeeping Consultancy Denver also assists businesses in preparing for potential FAMLI audits by maintaining detailed payroll records, documenting exemptions, and ensuring proper classification of workers. The firm helps businesses establish internal controls that prevent common errors such as incorrect premium calculations, missed filing deadlines, and inadequate employee notifications.
The consultancy provides ongoing support as FAMLI regulations evolve, helping businesses adapt to program changes and maintain continuous compliance. Services include quarterly review of payroll processes, assistance with employee inquiries about FAMLI benefits, and coordination with human resources departments to ensure consistent policy implementation.
DK/RK Services is a bookkeeping and accounting firm serving the Denver metropolitan area. As a Certified QuickBooks ProAdvisor, the company specializes in helping small to medium-sized businesses maintain accurate financial records and ensure regulatory compliance. The firm provides comprehensive bookkeeping services, payroll support, and financial consulting to businesses across various industries throughout Colorado.
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For more information about DK/RK Services, contact the company here:
DK/RK Services
Dottie Korbe
303‑725‑7145
info@dkrkservices.com
7550 Dahlia St, Commerce City, CO 80222
