WASHINGTON The IRS encourages taxpayers to use the IRS Tax Withholding Estimator to ensure they’re withholding the correct amount of tax from their pay in 2024. This digital tool provides workers, self-employed individuals and retirees with wage income a user-friendly resource to effectively adjust the amount of...
The Baby Boomers, Generation X, millennials, and Generation Z, who make up most employers’ workforce, have different situations and benefit needs. That’s why increasing numbers of employers are looking beyond a one-size-fits-all plan to a multi-generational benefit plan. KNOW YOUR DEMOGRAPHICS The first step in moving...
Staff development is the key to forward motion in any organization. If your people are your greatest asset, then their growth and success are your organization’s growth and success. When they stop growing, you can almost guarantee organizational growth will come to a screeching halt,...
Worker productivity has been in the headlines recently. One reason is the easy access employers have to the many technologies that can monitor employees — from software that tracks when an employee swipes their badge at work to software that notes how long someone is...
The pay stub can be referred to as a pay or wage statement and may be considered the decoder ring of payroll. Pay statements summarize employees’ gross pay, taxes and deductions, and net pay. They can be in printed format or made available electronically. Pay stubs...
Are you thinking of an IRA rollover? Getting these three rules right is critical if you want to avoid a big tax bill. THE 60-DAY RULE Your rollover must be completed within 60 days of withdrawal, or it’ll be taxable. You’ll also get hit with a...
Are you using an AI tool to help you with your work tasks? Have you considered doing so? If so, read on. There are advantages to be had and risks to note. According to a Glassdoor report, in the year after the launch of ChatGPT, usage...
While and IRS audit can be intimidating and the results will vary organization to organization, the full process is spelled out in IRS Publication 556. The basic steps are as follows: The IRS will contact you directly Though the IRS decides when, where, and how...
Time sheets come in an array of formats. From handwritten papers and punch cards to typed spreadsheets and automated time clock systems, you have options. All that matters is that you find a time sheet style that is clear and concise for your company. This...
The ways to pay employees — especially as money continues moving into the digital sphere — have proliferated. You have options. Choose the one that best fits your business. You may want to peruse the different methods to see which makes the most sense for...