Open enrollment is a critical time for both employers and employees. It’s the period when employees can make changes to their benefits plans—whether it’s health insurance, retirement contributions, or other voluntary benefits. For payroll administrators, it can also be a complex period, with many moving parts that need to be accurately reflected in each employee’s…
Managing payroll can be complex and stressful for businesses of all sizes. With constantly evolving tax laws, employee classifications, and compliance requirements, it’s no wonder there are so many myths surrounding payroll processing. Misunderstandings about payroll can lead to costly mistakes, compliance issues, or even penalties. To help set the record straight, we’re debunking five…
As an employer, you must ensure that your employees complete form W-4 accurately. This form determines the amount of federal income tax withheld from an employee’s paycheck, affecting their annual tax return. Misfiling the W-4 can lead to underpayment or overpayment of taxes, resulting in unexpected tax bills or refunds. By guiding your employees through…
In today’s digital world, payroll firms handle large volumes of sensitive employee data, including Social Security numbers, bank details, addresses, and salary information. These details are valuable not only to businesses but also to cybercriminals. A single breach can lead to significant financial and reputational damage. Thus, protecting sensitive employee data is not just a…
Accurate timesheet management is essential for the smooth operation of any business, especially when it comes to payroll. Yet, many small businesses struggle with timesheet issues, which can lead to errors, increased costs, and compliance issues. As a payroll firm dedicated to supporting small businesses, we’ve identified the top five timesheet problems that businesses commonly…
Seasonal employees play a crucial role in many businesses, especially those in retail, tourism, and agriculture. However, managing payroll for these workers can be challenging due to the temporary nature of their employment and the varying demands across different seasons. Effective payroll management is essential for complying with legal requirements, ensuring employee satisfaction, and operational…
Employee retention is a crucial concern for businesses of all sizes. High turnover rates can be costly, disrupt operations, and harm workplace morale. Organizations must focus on strategies that keep employees engaged, motivated, and loyal to build a stable, productive workforce. Here are the top five ways to retain employees in an organization. Foster a…
In today’s working world, it’s vital to grasp the distinctions between “W2 vs. 1099,” whether you’re an employee or an employer. This article will clarify the main differences and offer insights to help you make informed choices for your business. W2 Employee: The Conventional Path Definition: A W2 employee is a vital part of a company’s…
Article Highlights: Infrastructure Investment and Jobs Act (IIJA) Signed into Law Employee Retention Credit Terminated Early Problem for Some Employers No Relief Included for Employers Already Claiming the Credit in the 4th Quarter Recovery Startup Businesses Still Qualify President Biden signed the Infrastructure Investment and Jobs Act (IIJA) on November 15, 2021. One of the…
Article Highlights: Paycheck Protection Program (PPP) Loan Terms Loan Amount PPP Loan Forgiveness Reduction in Pay Decrease in Employees Qualified Expenses Limitation Documenting Forgiveness Now that you have gotten a Paycheck Protection Program loan (PPP), it is time to start planning how to spend the loan proceeds so some portion of the loan will be forgiven.…