Not sure what activities your overhead costs are going towards? With activity-based costing, product-focused businesses can get into the nitty-gritty details to better allocate expenses. That means you can more accurately analyze your spending and price your products.
Read More Activity-based Costing (ABC) System: Finding Where Your Money Goes
Author:
Rachel Blakely-Gray
Rachel Blakely-Gray has spent more than a decade writing about payroll, payroll taxes, and accounting for small business owners at Patriot Software. As Content Manager, she covers everything from multi-state payroll tax filing to 1099 reporting requirements, translating IRS and state regulations into plain English.
Minnesota Paid Sick Leave: Guide for Small Business Owners
July 3, 2024Employers with employees working in Minnesota are responsible for offering paid sick leave. How much do you know about the Minnesota paid sick leave law, known as Earned Sick and Safe Time?
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American Businesses Offered a Serious Value They Can’t Refuse
July 1, 2024Canton, OH In an unprecedented move, Patriot Software offers American businesses an incredible 6 months of free software to new customer signups in honor of Independence Day. The 6-month promotion applies to all Patriot Software products, including accounting, payroll, time and attendance, and HR software.
Read More American Businesses Offered a Serious Value They Can’t Refuse
Readying for Hockey-Stick Growth, Patriot Software Unleashes New CEO
June 19, 2024Canton, OH Patriot Software’s founder and former CEO, Mike Kappel has introduced that Kyle Dreger is the new CEO of Patriot Software, effective immediately.
Read More Readying for Hockey-Stick Growth, Patriot Software Unleashes New CEO
OASDI Tax: Old-Age, Survivors, and Disability Insurance (OASDI) Tax Deductions
June 18, 2024Tax withholding is an essential piece of the payroll puzzle. One of the taxes you must withhold from employee wages is the Old-Age, Survivors, and Disability Insurance (OASDI) tax. You must also contribute an employer portion of the OASDI tax. OASDI tax is more commonly referred to as Social Security tax.
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What Is an Employee Assistance Program (EAP), and Is it Taxable?
June 14, 2024Benefits matter to 81% of employees, which means your benefits package is an important recruitment and retention tool. From traditional benefits, like health insurance, to newer benefits, like student loan repayment, you’re always looking for the next best thing. Have you heard of employee assistance program (EAP) benefits? What is EAP, exactly?
Read More What Is an Employee Assistance Program (EAP), and Is it Taxable?
How to Help Clients Set up a Payment Plan With the IRS
June 11, 2024Do you have a client who can’t pay their tax bill? You may need to help them set up a payment plan with the IRS. A payment plan, such as an installment agreement, generally decreases penalties and prohibits the IRS from levying assets.
Read More How to Help Clients Set up a Payment Plan With the IRS
What Is the Difference Between Gross and Net Pay?
June 5, 2024Running payroll can be confusing. Although it’s natural to have payroll questions when starting out, you can’t afford to get tripped up when it comes to gross vs. net pay. Knowing the difference between gross and net pay impacts employee wages, payroll withholdings, recordkeeping, and even employer laws.
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Workplace Injury: What to Do When an Employee Is Injured at Work
June 5, 2024Employers reported over 2.8 million injury and illness cases in 2022. A workplace injury can happen in any industry, from manufacturing to finance. You must cultivate and maintain a safe work environment for your employees.
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Payroll KPIs and Statistics: Small Business Payroll Performance
May 30, 2024Running payroll is more than cutting employees a check for their hours worked. Payroll takes time. A lot goes into calculating and withholding taxes and deductions. There’s room for mistakes and opportunities for improvement. You can use payroll KPIs, or key performance indicators, to analyze how well you manage payroll.
Read More Payroll KPIs and Statistics: Small Business Payroll Performance