If you pay employees, you need to know about overtime pay laws and how they can affect your business. So, what is overtime? Dive into everything you need to know about overtime pay below.
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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.
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 it.
Read More What Is Time and a Half Pay, and Who Qualifies for It?
How Familiar Are You With Federal Legal Holidays?
As a small business owner, your doors likely aren’t open 24/7. And if you’re like most businesses, you might be closed on federal legal holidays like Thanksgiving or Christmas. According to the Bureau of Labor Statistics, the average full-time employee receives approximately 7.6 paid holidays annually.
Read More How Familiar Are You With Federal Legal Holidays?
How to Correct a W-2 Form If You Make a Mistake (Amend Your W-2)
Let’s face it: everybody makes mistakes. So, if you make a mistake on an employee’s Form W-2, don’t panic. Instead, learn how to correct a W-2 form and take action.
Read More How to Correct a W-2 Form If You Make a Mistake (Amend Your W-2)
Types of Business Structures
As a small business owner, one of the first decisions you make is deciding between the different types of business structures. But, choosing between business structures can be intimidating and confusing. Before you decide what business structure type to use for your small business, understand your options.
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What Is Per Diem? How to Cover Employees’ Travel-related Business Expenses
When employees incur travel-related business expenses, you might consider covering their costs. You can reimburse employees for expenses by giving them per diem pay. What is per diem pay?
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Understanding Publication 1542 Per Diem Rates
You might have heard about per diem pay before. But, are you familiar with Publication 1542? Learn more about Publication 1542 per diem rates and how to calculate per diem pay below.
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What Is Filing Status, and How Does It Affect Payroll?
Withholding federal income tax from employee wages is a necessary (but tricky) part of running payroll. There is no standard amount you withhold from employee wages for federal income taxes. Instead, tax amounts are determined by factors like pay, Form W-4 withholding information, and filing status. But, what is filing status?
Read More What Is Filing Status, and How Does It Affect Payroll?
What Is a Highly Compensated Employee?
If your company offers retirement plan options, you have to ensure each employee can benefit equally from the plan. To do this, you must consider who is a highly compensated employee (HCE). Not familiar with highly compensated employees? No worries—we’ll go over the HCE definition, how to determine who is classified as a highly compensated […]
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What Is Mileage Reimbursement, and How Does it Work?
As a business owner, running errands is inevitable. But sometimes, you are too busy to make the run yourself. You might send an employee to pick up something or handle a task for you. If you find yourself counting on employees to use their personal cars for business, consider offering mileage reimbursement. So, what is […]
Read More What Is Mileage Reimbursement, and How Does it Work?
