Picture your star employees and how much value they add to your business. Many employers recognize their employees’ value with bonus pay. When you give an employee a bonus, you are required to withhold taxes on the additional money. To figure out how much to withhold, you need to understand the bonus tax rate.
Read More What Is the Bonus Tax Rate?
Part of being an employer is withholding taxes from your employees’ wages before giving them their paychecks. That’s why you need to understand taxable wages before you run payroll.
Read More What Employers Need to Know About Taxable Wages
Once you send Forms W-2 to your employees, you don’t have to worry about the annual form until next year. Or, do you? If you don’t know how to fill out Form W-2, you may run into problems.
Read More How to Fill Out Form W-2: Box-by-box Breakdown
If you’re an employer, you likely know that withholding, contributing, and remitting employment taxes is essential to running legal and accurate payrolls. Before calculating how much to withhold and contribute, you need to know about the tax wage base.
Read More Which Taxes Have a Wage Base?
Employers are responsible for withholding, remitting, and filing payroll taxes on behalf of their employees. And, there are some taxes you contribute on behalf of your employees. Social Security tax is one of those essential taxes that impacts both the employer and the employee.
Read More Social Security Tax: Get to Know it Before Writing That Paycheck
Paying Social Security tax is a time-honored tradition since 1937. Both employers and employees pay the tax. But when an employee hits the Social Security wage base, it’s game over for withholding and contributing the tax.
Read More The Social Security Wage Base Is Your Cue to Stop Withholding This Tax
Navigating through the waters of health insurance coverage is tricky. You might be wondering, Do employers have to offer health insurance? Although the Affordable Care Act (ACA) requires employers with 50 or more full-time equivalent employees to provide health insurance, no employer has to offer excepted benefits.
Read More What Are Excepted Benefits, and Should You Offer Them to Employees?
Do employers have to offer health insurance? Under the Affordable Care Act, you must provide health insurance if you have 50 or more full-time equivalent employees. If this requirement doesn’t apply to you, you might decide to establish a QSEHRA plan.
Read More QSEHRA Plan: Health Insurance Alternative for Qualifying Small Employers
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
Let’s face it: Health insurance is expensive. The average employer health insurance premium contribution per employee is nearly $7,584 (single) and nearly $19,276 (family) annually.
Read More Can Employers Reimburse Employees for Health Insurance? Answers and Plan Options