10 Year-End Payroll Tips for Businesses
As you prepare for year-end tasks, payroll becomes one of the most critical areas to review. These payroll tips can help you avoid tax headaches, missed deadlines, compliance issues, and …
Steps for Reconciling IRS Form 941 to Payroll
Employers must report employee wages paid, taxes withheld, and their share of certain payroll taxes to the IRS each quarter using Form 941, Employer’s Quarterly Federal Tax Return. Additionally, employers …
New Overtime and HCE Rules for Employers
It’s long been a policy that employees are exempt from the Fair Labor Standards Act’s minimum wage and overtime protections if employed in a bona fide executive, administrative, or professional …
Tax Implications of Payroll Bonuses
If you are rewarding your team’s performance with bonuses, it’s important to consider how those bonuses are given and the tax implications for both you and the employee. One-time bonuses …
What Exactly Is Payroll Automation?
Managing payroll is often regarded as an overwhelming and daunting task. From tracking the unique tax codes for each of your employees and the seemingly countless deduction options to determining …
Do you need to report these forms of employee compensation?
The majority of — if not all — employers understand that they must report the salary, overtime pay, and bonuses that their employees receive as compensation for the jobs they …