Payroll Tag

Most companies spend 20% to 30% of their annual revenue on payroll. The exact amount varies based on the employer's size, industry, and staffing and operational needs. In some industries, such as service, it's not uncommon for payroll to encompass up to 50% of revenue....

20 December, 2021

Dear Payroll Delivery Client, The Great Resignation has taken hold in several industries this year, including the logistics/delivery industry. Our couriers and mail delivery service providers are finding it hard to fill their open delivery positions and it’s manifesting itself in delivery delays at the local,...

17 December, 2021

Do you ever wish you didn't have to go through the hassle of preparing a payroll? Maybe it was simple when you just had one or two employees, but your company is growing and it's becoming more complex. Some companies have a dedicated payroll manager—but...

13 December, 2021

Regardless of whether your first payroll involves a few employees or many, the goal is to execute payroll in an accurate and compliant manner. Here are some steps to help you manage your first payroll. Get an EIN and perform the necessary state registrations. Obtain an Employer...

06 December, 2021

Below are federal payroll tax rates and benefits contribution limits for 2022. Social Security tax In 2022, the Social Security tax rate is 6.2% for employers and employees, unchanged from 2021. The Social Security wage base is $147,000 for employers and employees, increasing from $142,800 in 2021. Self-employed people must...

29 November, 2021

In Bloomberg Tax & Accounting's 2019 Payroll Benchmarks Survey, 69.2% of respondents said they used outside vendors to perform payroll functions, while only 30.8% said they did not outsource payroll. Let's look at the practical and financial reasons so many companies are taking the payroll outsourcing...

22 November, 2021

1. Federal wage and hour laws The Fair Labor Standards Act (FLSA) sets federal wage and hour standards, which are administered by the U.S. Department of Labor. These standards cover: Federal minimum wage. Overtime pay and exemptions. Work hours, including meals and rest breaks. Child...

15 November, 2021

The Social Security Administration reviews key numbers each year and usually makes adjustments. In a recent release, the SSA announced what is and is not changing for 2022. Here are the key changes: The maximum taxable earnings for the Social Security portion rises from $142,800 to $147,000....

08 November, 2021

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...

01 November, 2021

Studies show that the vast majority of employers use payroll software, which saves time by automating manual processes and decreasing administrative labor. The software calculates gross-to-net wages and enables direct deposit payments. However, there's more to payroll than paying wages. To meet your other payroll needs, the...

25 October, 2021