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.

What Is Profit Sharing, and How Can it Benefit Your Business?

By Mike Kappel

Looking to offer your employees an additional benefit? Consider creating a profit-sharing plan. But before you run off and create a plan, you need to know what is profit sharing. Read on to learn all about profit sharing, including how it works and steps for creating a plan of your own.

Types of IRA Accounts You Might Be Considering

By Mike Kappel

As a small business owner, you might be confused by all the different small business retirement plan options out there. One retirement option you can offer is an individual retirement arrangement, or account (IRA). There are several types of IRA accounts you could consider.

Types of 401(k) Plans: Traditional, Roth, and More

By Mike Kappel

Here’s the scoop: 70% of private industry workers have access to employer-provided retirement plans. Do yours? If you don’t offer employees a small business retirement plan, like a 401(k), it might be time to hop on the bandwagon. Read on to learn about the types of 401(k) plans to choose from. About 401(k) plans A […]

A Section 125 Plan: The Overview for Employers

By Mike Kappel

Offering competitive benefits attracts, satisfies, and retains top talent. Benefits include everything from retirement plans to health insurance coverage. When you dive into different small business employee benefits, you might consider a section 125 plan. But, what is a section 125 plan? Is it a cafeteria plan? Are section 125 plans pre-tax health insurance? Keep […]

What Is an HSA? Everything You Need to Know for Your Small Business

By Mike Kappel

Most businesses offer employee benefits in addition to regular wages. Common employee benefits can range from different insurance options to types of retirement plans. Some employees have the option of opening an HSA. What is an HSA?

HSA vs. FSA: What’s the Difference? (+ Quick Reference Chart)

By Mike Kappel

When it comes to health coverage, there are a lot of options out there. FSAs and HSAs are healthcare plans that cover medically-related expenses not included under a traditional health plan. Do you know the difference or if you are FSA or HSA eligible?

What Is an FSA? Your Q&A on Health Flexible Spending Accounts Has Arrived

By Mike Kappel

As an employer, you can offer various benefits to your employees. There are pre-tax and post-tax benefits for employees to enjoy. One plan you can offer employees is a health, or medical, FSA. So, what is an FSA?

What Is Self-employment Tax?

By Mike Kappel

Are you self-employed? If so, you better keep reading. Self-employed individuals must pay a unique payroll tax called self-employment tax. What is self-employment tax?

What Are Payroll Taxes?

By Mike Kappel

Employers juggle many responsibilities, including calculating and withholding payroll taxes and other deductions. But, what exactly does payroll taxes include? And, how do you know how much to withhold from employees’ wages? If you’re wondering about understanding payroll taxes, never fear—your payroll taxes breakdown is here.

What’s Your Deposit Schedule for 2024? Look At Your Lookback Period for Forms 941 and 944

By Mike Kappel

Do you know how often you need to deposit federal income, Social Security, and Medicare taxes? You can’t deposit the taxes whenever you feel like. Your deposit frequency is based on a lookback period. So, what is a lookback period?