Before running payroll, double-check: The pay period (start and end) dates for the pay cycle. Address changes. Depending on where the employee moved to, his or her state or local tax withholding may be affected. Terminations. What are your state's rules on final wages? Is...
Small business owners have a variety of tax responsibilities. The IRS knows that understanding and meeting tax obligations is vital to the success of all businesses, especially a new one. IRS.gov has the resources and information to help people through the process of starting a...
The answer will depend on a number of factors, such as how many employees are misclassified, how much extra money they would have been paid if properly classified, and whether or not lawyers or regulatory agencies get involved. Generally, if an employee goes to the federal...
If you’ve ever experienced payroll errors first-hand, you know the extensive costs and time-consuming efforts that go into correcting them. Even the smallest of payroll slip-ups can snowball into serious, long-term issues and increased expenses, especially if those mistakes continually occur. But when mistakes happen,...
Compliance is the top reason employers cannot afford to compromise on timekeeping accuracy. Below we explore four aspects of timekeeping compliance. 1. Payment for All Hours Worked The Fair Labor Standards Act requires covered employers to pay nonexempt employees for all hours worked. You must keep that...
Payroll reports are useful for reviewing compensation details, evaluating payroll accuracy, tracking payroll expenses, reconciling payroll activities and meeting payroll obligations. Below are six of these reports: 1. Time sheets Nonexempt employees are paid according to the hours reflected on their time sheets. Before payroll processing begins,...
WASHINGTON – With many businesses facing a tight job market, the Internal Revenue Service reminds employers to check out a valuable tax credit available to them for hiring long-term unemployment recipients and other groups of workers facing significant barriers to employment. During National Small Business Week,...
What should I do if an employee moves to a different state and will be working from there? There are several things you need to do if an employee moves out of state: If you don’t already have other employees there, you’ll need to set up...
I'm a Clergy Staff Member. Is My Social Security Allowance Taxable? The short answer to this question is yes. Unlike non-clergy employees, clergy do not have Social Security or Medicare taxes taken out of their paycheck. The Church also does not pay any matching portion to IRS,...
Late time cards are a problem for all types of businesses. But they shouldn't be. Why Are On Time, Accurate Time Cards Critical? Accurate, on time timesheets: Are necessary to pay your associates Are necessary to bill your clients Are necessary to allocate time and resources Are...