A salary, or wage, advance is a type of short-term loan from an employer to an employee. The employee receiving the advance must pay back the money within a specified time frame, as dictated by the company's salary advance policy. Under federal law, employers can make...
Poor employee scheduling causes problems for your company. Fortunately, you can fix it with TimeSimplicity from Payroll Partners. Here are the 5 signs of broken scheduling: 1. Employee Turnover Employee scheduling has a big impact on turnover rates. Lowering your rate of employee attrition provides savings to...
When is it appropriate to use a performance improvement plan as opposed to a disciplinary action notice or a record of employee conversation? Performance improvement plans (PIPs) are best suited for performance issues, such as an employee not hitting their required sales goals or failing to...
WASHINGTON – With the tax filing season quickly approaching, the Internal Revenue Service recommends taxpayers take time now to determine if they are eligible for important tax credits. This is the second in a series of reminders to help taxpayers Get Ready for the upcoming tax...
Reason 1: Income Tax Deduction Contributions to your 403(b) account are tax deductible for federal income and social security taxes. Putting money into the 403(b) reduces your taxable income for that year. For example, if you put $5,000 into your 403(b) account and your federal income...
Does your company use a structured onboarding protocol? If you don't, you're not alone. Like most business owners, you have a lot of things on your plate. Onboarding may not seem like a priority. In many businesses, it consists of a short orientation meeting followed...
Any newly hired employees in 2020 must fill out the redesigned W-4.The 2020 version of form W-4 does away with asking people to choose a number of allowances. Instead, you provide certain dollar estimates for the payroll system to use. Elimination of the Personal Allowances Worksheet With...
We are about to hire our 15th employee. I heard that some federal regulations go into effect then. What do I need to know about these? Once you have 15 employees, the federal laws below would apply to you. Here is a brief summary of what...
The Internal Revenue Service issued the 2020 optional standard mileage rates used to calculate the deductible costs of operating an automobile for business, charitable, medical or moving purposes. Beginning on Jan. 1, 2020, the standard mileage rates for the use of a car (also vans, pickups...
One controversial provision of the Tax Cuts and Jobs Act of 2017, you may recall, required nonprofit organizations, including churches, to calculate unrelated business income tax on qualified transportation fringe benefits provided to employees. Among the benefits included were employer-provided parking and mass transit passes, as...