When you first start your business and hire employees, you might be worried about how you’ll make payroll each pay period. But once your business is firmly planted, you might be able to give more money to your employees. One thing you might want to offer employees is bonus pay.
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Author:
Mike Kappel
Mike Kappel, serial entrepreneur and CEO of Patriot Software, offers payroll advice from more than 30 years of experience to small business owners.
A Year-end Payroll Checklist to Finish the Year Strong
As the year comes to a close, you might be gung-ho about all the goals you want to achieve next year. But before you can get the ball rolling in the new year, you must wrap up some things in the current year, including your payroll.
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What Is FUTA Tax? Understanding the Federal Unemployment Tax Act
The tax world is overflowing with funky-sounding acronyms, and FUTA might be the strangest one out there. You may be wondering, What is FUTA tax?
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What Are Fringe Benefits for Employees? Guide for Employers
Employers often want to offer attractive compensation packages to bring in good employees. But, compensation goes beyond an employee’s hourly or salary wages. It also includes additional small business employee perks, known as fringe benefits. So, what are fringe benefits? And, what are the types of fringe benefits?
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What Is SUTA Tax? Overview of the Mandatory Payroll Tax
When you become an employer, you add a lot of things to your plate, like running payroll. One of your employer responsibilities with payroll is withholding certain taxes, such as SUTA tax. But, what is SUTA tax?
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What Is the EEO-1 Report, and Which Employers Need to File it?
When your business grows, you may need to hire additional employees. But, hiring more employees comes with additional responsibilities. Depending on the number of employees you have and some other factors, you may be responsible for filing an EEO-1 report. So … what is EEO-1, anyways?
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How to Pay Yourself from Your Business: Salary vs. Draw
Running your own business doesn’t mean you sit around as stacks of cash come flooding into your office. Business owners are busy nonstop to keep up with operations. Since running a business is your full-time job, you need to know how to pay yourself from your business.
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What Is Time and a Half Pay, and Who Qualifies for It?
If you have nonexempt employees, you have to pay them overtime, or time and a half, for any hours worked over 40 during the workweek. Learn all about time and a half, who qualifies for overtime, and how to calculate time and a half when running payroll.
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Pros and Cons of Cash-basis Accounting
Choosing your accounting method is the first step in handling your company’s books. If you’re a small business owner, you may prefer the simplicity of cash basis as opposed to accrual or modified cash-basis accounting. But before solidifying your decision, learn the pros and cons of cash-basis accounting.
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Can Employees Donate PTO? How to Create a Leave Donation Program
When it comes to running a business, you’re constantly looking for new ways to boost employee morale and increase employee retention. One solution? Letting employees donate PTO by creating a leave donation program. But, what is leave donation, exactly? And, how does it work when it comes to taxes?
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