You may think that the terms "highly compensated employees" and "overtime pay" don't belong in the same sentence, but the Supreme Court disagrees. HCEs can receive overtime if they are paid on a daily basis. In this case, Helix Energy Solutions Group, an offshore oil...
The new year brings a host of changes and minimum wage is often the most asked about! We’ve organized the latest minimum wage updates for 2023 and listed them below alphabetically by state so you can scan the list and see if you need to...
The payroll tax rates and contribution limits for 2023 have been released, and there are lots of changes. Click through to see exactly what is changing so you can make plans for the coming months. Social Security tax In 2023, the Social Security tax rate is 6.2% for...
Congratulations! You're a new business owner. Now it's time to hire employees who will help you run your company. But before you advertise for the available positions, you should get yourself up to speed and understand the entire process involved in paying employees. Here's what you...
Voluntary accident insurance provides funds to pay for additional costs incurred from injuries. If you've ever seen an Aflac commercial—with the duck that keeps repeating the name of the product—you get the idea that supplemental insurance provides coverage for bills that your major medical plan...
S corporations allow the business to pass corporate income, losses, deductions and credits through to their shareholders for federal tax purposes. But with those great advantages come many rules, including those related to compensation. Shareholder-employees may think there's no practical difference between income as an...
Even if your business has only a few employees, you may be considering outsourcing your payroll processing to a specialist. What can a payroll processing service do for you? It can help keep you compliant. You may have employees in more than one state and...
There's been buzz about new retirement plan provisions for weeks, and now they're final, bringing about changes to various federal rules and adding flexibility for current and future retirees. The Secure 2.0 Act of 2022, part of the Consolidated Appropriations Act of 2023, includes the...
Since the Employee Retention Tax Credit (ERTC) was introduced in 2020 as part of the CARES Act there have been many updates and expansions. Luckily for business owners, these updates have made the ERTC more accessible to businesses that are struggling to get back on...
Congratulations — you're a new business owner. Now it's time to get some help — employees. But before you advertise for help, you need to get yourself up to speed with the entire process of paying your employees. Here's what you need to do before tackling...