The Department of Labor recovered $304 million in unpaid wages in 2018 due to wage violations. Employers who use illegal payroll practices not only owe back the money they “steal” from employees, but they’re also subject to hefty penalties. Plus, these businesses lose the trust of their workers and harm their employer brand. Continue reading “For the Love of Your Small Business: 11 Wage Violations You Need to Avoid”
If you’re an employer, you know that processing payroll can suck up a lot of your precious time. You might have to follow certain steps like inputting employee information, double-checking payroll and withholding tax calculations, and distributing pay stubs.
With so many responsibilities and so little time, it can be hard to keep up. Instead of letting payroll pull you away from your small business, use the tips in this article to save time processing payroll.
You know that you’re responsible for managing payroll for your employees. You’re also likely familiar with payroll withholdings, including taxes and non-tax deductions. But, what about your employer payroll liabilities? Do you know what the payroll taxes paid by employer are? Continue reading “What Are the Payroll Taxes Paid by Employer?”
If you’re an employer, you typically must withhold and remit federal income, Social Security, and Medicare taxes from employee wages. And to report wages paid and certain taxes withheld, you likely need to fill out Form 941. Read on to learn what is Form 941 and familiarize yourself with the form.
As an employer, you’re well aware of which payroll taxes are paid by employers. You know you’re responsible for contributing to things like FICA, SUTA, and FUTA taxes. But how familiar are you with employees’ payroll tax liabilities?
Read on to find out the answer to Which payroll taxes are the employee’s responsibility? and check out a handy chart that breaks down the different employee payroll taxes.
Every four years, February magically has 29 days instead of 28. Ok, so maybe it’s not magic. But it is a leap year. And when leap year rolls around every four years, your business needs to be prepared. Read on to learn about leap year payroll and steps for handling payroll during a leap year.
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? Continue reading “What Is a Lookback Period for Forms 941 and 944?”
On the hunt for new talent? Great! But when it comes to the hiring process, there are quite a few things you need to keep in mind. One of those things includes questions you cannot ask during an interview. Continue reading “Questions You Cannot Ask During an Interview”
When you hire new employees, you need to collect information to verify employment eligibility and run payroll. Federal Forms W-4 and I-9 are just the beginning when it comes to new employee forms. You may also need to collect state-specific forms, including your state’s W-4. What is the state W-4 form? Continue reading “Don’t Forget to Collect State W-4 Forms from New Hires”
When you become an employer, you add a lot of things to your plate, like running payroll. And, one of your employer responsibilities with payroll is withholding certain taxes, such as SUTA tax. But, what is SUTA tax? Continue reading “What Is SUTA Tax? Definition, Employer Obligations, & More”