Employees might be entitled to back pay thanks to the Fair Labor Standards Act (FLSA). The FLSA is a federal law that entitles employees to a minimum wage and overtime wages. When employers don’t give employees at least the minimum wage and overtime wages when required, employees might be able to receive FLSA back pay […]
Read More FLSA Statute of Limitations for Back Pay and Beyond
Employees streamline business operations, but what happens when they frequently skip work or show up late? Those streamlined business operations will start to become inefficient. You need a small business attendance policy to encourage attendance and monitor employees.
Read More Small Business Attendance Policy
If you have employees, you are responsible for many tasks like running payroll, withholding payroll taxes, and annual wage reporting via IRS Form W-2. As you might know by now, Form W-2 can be uber confusing. Who receives a form? Where do you send it? When is it due? Get the answers to these questions […]
Read More Everything to Know About IRS Form W-2
In the foodservice industry, tips are an important part of employee compensation. Tips are added to employee wages so they can earn at least minimum wage. But, what happens when a tipped employee earns few tips?
Read More What Are Allocated Tips?
Payroll isn’t as easy as handing checks to employees for the amount of time they worked. You also need to subtract deductions from payroll. Deductions include taxes, pre-tax deductions, and post-tax deductions from payroll.
Read More What Are Post-tax Deductions from Payroll?
As an employer, it’s your responsibility to collect, file, and deposit payroll taxes with the proper agencies (e.g., IRS). Depending on your payroll and tax liability amount, you may need to deposit taxes more frequently. If you tend to have a heftier payroll, you need to learn about the Next-Day Deposit Rule.
Read More Do You Have to Follow the IRS Next-Day Deposit Rule?
It’s a fact of any business: Employees occasionally miss work and absenteeism is going to happen. Sure, absenteeism isn’t always avoidable. But, there are steps you can take to reduce absenteeism in the workplace.
Read More How to Reduce Absenteeism in the Workplace
As your business grows, so do your responsibilities as a business owner. Once you have 20 full-time equivalent employees and offer health insurance, you need to know about COBRA. What is COBRA? Do you have to offer it? Read on to get answers to these questions and more.
Read More COBRA Health Insurance: Do You Need to Offer It?
ABA numbers are unique numbers assigned to financial institutions to allow funds transfers between different banks. Although this practice is also prevalent in other countries, the nine-digit format is unique to the United States. ABA numbers are known by several other terms, namely Routing Transit Numbers (RTN), ABA Transit Numbers, and ABA Routing numbers.
Read More What Is an ABA Number?
Did you employ workers at your small business this year? When you have employees, you need to handle employment taxes, like federal unemployment (FUTA) taxes.
Read More Do You Need to File Form 940? If So, Here’s How