If you have nonexempt employees, you have to pay them overtime wages whenever they work overtime hours.
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Everything You Need to Know About New York PFL
When you become an employer, part of your responsibilities include handling payroll taxes. On top of remitting taxes, you also might employ workers in a state with a paid family leave program, such as New York.
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What to Do When an Employee Is Exempt from Withholding
Withholding taxes from employee wages is all part of Payroll 101. But, what happens when an employee is exempt from withholding?
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What Is a W-4 Form, and What Is it Used for?
When you hire an employee, you need to have them fill out new hire paperwork. One form you must have new employees fill out and keep in your records is Form W-4. So, what is a W-4 form? What is the purpose of Form W-4? Read on to find out the answers to these W-4 […]
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Federal Withholding Allowances Still Axed, but Some State Allowances Live On
Withholding allowances used to be a way employees could adjust how much money employers take out of their paychecks for federal income tax. Although the IRS removed withholding allowances for federal income tax in 2020, they’re still out there—through pre-2020 W-4 forms and state income tax.
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Payroll 101: How to Set up Payroll for a Small Business
Hired your first employee? Check. Set a start date? Check. Ready to process payroll? Not quite yet. Before you can start paying your employees, there are a few steps you need to know and some terms to learn. This handy payroll 101 guide explains how to set up payroll the right way so you can […]
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‘Tis the Season of Giving: Tips for Handling Holiday Gifts to Employees
Your business might offer sales and seasonal offerings whenever a holiday rolls around. Or, you could decorate your office, retail space, or remote work location with some festive cheer. No matter how you celebrate the holidays, don’t forget to celebrate your employees, too. Holiday parties, gifts, and bonuses are great opportunities to give back to […]
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What Is Quick Ratio? Learn How to Swiftly Calculate This Metric
Does your business have enough liquid assets to cover short-term liabilities in a pinch? To find out, you can use the quick ratio. Keep reading to learn the quick ratio definition, how to calculate your ratio, and more.
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7 Ways to Get Out of Business Debt
Taking on business debt can be a good thing. Debt can help you finance your business, purchase more items, and expand your offerings. But, there is a dark side to debt. Debt can become too much to handle and overwhelm your business. If your business doesn’t meet sales projections, its debt can get out of […]
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What Is Burden Rate?
Running a business has some indirect costs. These costs aren’t always apparent, which is why they’re the hidden costs of running a business. It’s important to keep track of your business’s indirect costs. And, you should know how your indirect costs compare to your direct costs. To do this, you’ll need to find your burden […]
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