When you become an employer, you can’t always play by your own rules. There are certain federal, as well as state and local, standards you must follow. The FLSA is one set of federal regulations you need to know about and comply with. What is the FLSA?
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Author:
Michele Bossart
Patriot Software Unlocks Mobile App Access for Hundreds of Thousands
All employees paid through Patriot’s payroll software can now access Patriot Software’s employee mobile app. Canton, OH In a major move to redefine workplace connectivity, the Patriot Software mobile app is now available to all employees whose employers use Patriot Payroll™. Previously limited to employees using Patriot’s Time and Attendance software, the expanded app is […]
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Retained Earnings Formula: Examples, Calculation, and More
When you own a small business, it’s important to have extra cash on hand to use for investing or paying your liabilities. But with money constantly coming in and going out, it can be difficult to monitor how much is leftover. Use a retained earnings formula to track how much your business has accumulated. Knowing […]
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What Is Inventory?
Unless you own a service-based business, you likely have inventory. Knowing how much inventory you have is crucial for managing accurate small business accounting books, ordering new stock, and making pricing decisions. So, what is inventory?
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What Is the Earned Income Tax Credit, and How Does it Work?
If you have a low- or moderate-income worker, they may be eligible for the earned income tax credit (EITC). Read on to learn all about the earned income credit, including who is eligible for it and how workers can claim the credit.
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The Scoop on the California Paid Sick Leave Law
Some states, like California, require mandatory paid sick leave. The majority of California’s employers must offer paid sick leave to their employees. So, what is the California sick leave law?
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How to Get Cost of Goods Sold for Your Business
Before you can begin looking into your business’s profit, you need to understand and know how to calculate cost of goods sold (COGS). So, where do you begin? Start here by learning all about COGS, including how to get cost of goods sold using the cost of goods sold equation.
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What Employers Need to Know About Taxable Wages
Part of being an employer is withholding taxes from your employees’ wages before giving them their paychecks. That’s why you need to understand taxable wages before you run payroll.
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Social Security Tax: Get to Know it Inside and Out Before Writing That Paycheck
Employers are responsible for withholding, remitting, and filing payroll taxes on behalf of their employees. And, there are some taxes you contribute on behalf of your employees. Social Security tax is one of those essential taxes that impacts both the employer and the employee.
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Alabama Overtime Tax Law: Tax Break for Employees, Required Reporting for Employers
Understand the new Alabama overtime tax law that exempts employees’ overtime earnings from state income tax. Get the details and reporting requirements for businesses.
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