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?
Read More What Is FUTA Tax? Understanding the Federal Unemployment Tax ActPatriot Software's Blog
May 16, 2025
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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May 16, 2025
Is Health Insurance Pre-tax on Payroll? The Answer You Need to Know
Creating an employee benefits package can help attract and retain talent. But providing health insurance benefits to your employees can leave you with questions. If employees contribute to their premiums, you have to know how to deduct the cost from their gross pay. Is health insurance pre-tax on payroll?
Read More Is Health Insurance Pre-tax on Payroll? The Answer You Need to Know
May 15, 2025
No Tax on Overtime: Will It Become Law in 2025? What to Know
Have you heard the chatter about a “no tax on tips” proposal? It’s part of the recently proposed “One, Big, Beautiful Bill,” along with another popular provision—”no tax on overtime.”
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May 14, 2025
No Tax on Tips: Will It Happen Anytime Soon? Maybe—Here’s the Latest
Both Donald Trump and Kamala Harris endorsed “no tax on tips” in the 2024 presidential election. The discussion continues gaining momentum, and a new bill (“The One, Big, Beautiful Bill”) brings it into the spotlight.
Read More No Tax on Tips: Will It Happen Anytime Soon? Maybe—Here’s the Latest
May 13, 2025
The Average Cost of Living by State, and Why Ignoring it Could Sink Your Business
You hear about it all the time in the news—Cost of living rising! Maybe you think about it on a daily basis—Do I earn enough to cover my standard of living in my state?
Read More The Average Cost of Living by State, and Why Ignoring it Could Sink Your Business
May 12, 2025
How to Make a Journal Entry for Sales in Your Books
Ten out of 10 businesses sell products or services. And when you make a sale, you need to record the transaction in your accounting books. How comfortable are you with making a journal entry for sales?
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May 12, 2025
Which Financial Statement Is Prepared First?
Your business’s financial statements give you a snapshot of the financial health of your company. Without them, you wouldn’t be able to monitor your revenue, project your future finances, or keep your business on track for success. So which financial statement is prepared first?
Read More Which Financial Statement Is Prepared First?
May 12, 2025
Should You Take Out a Payroll Loan If You Can’t Make Payroll?
There might come a time when you don’t have enough money to pay your employees. Cash flow might be slow, or a three-paycheck month may surprise you. To help your business make ends meet, you might consider taking out a payroll loan.
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May 9, 2025
Visualize the Way You Pay Your Employees With a Payroll Process Flowchart
According to a 2019 Bank of America study, 68% of small business owners think payroll is their most difficult management task. Do you? If so, an easy-to-digest payroll process flowchart can help you gain confidence in running payroll.
Read More Visualize the Way You Pay Your Employees With a Payroll Process Flowchart