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 …
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 …
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 …
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 …
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 …
According to a Department of Labor release, a newly issued rule increases the salary threshold required to exempt a salaried bona fide executive, administrative, or professional employee from federal overtime pay …
