Sometimes, an employee might pay for a business expense out of their own pocket. When that happens, you can reimburse the employee. An employee expense reimbursement does come with some complications. Are reimbursements taxable? Do you need to report the reimbursement? Find out below.
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Payroll Tips, Training, and News
What Is Form 8655?
October 14, 2022When signing up for payroll services that include tax filing, you’ll be asked to fill out Form 8655. The company won’t be able to file or deposit your taxes until you submit the form. So, what is IRS Form 8655 used for? Find out below.
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Do I Need to File Form 8027?
October 14, 2022In some industries, employees earn the bulk of their wages from tip income rather than hourly or salary pay. If you own a food or beverage establishment, your employees likely earn tips. Like regular pay, you still need to withhold taxes on tip income. And, you need to report tip earnings on Form 8027.
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A Breakdown of the Colorado Occupational Privilege Taxes
October 13, 2022A handful of cities in Colorado have a local tax called an occupational privilege tax. Both employees and employers owe it. If you’re an employer in Colorado, it’s important to know if you owe the occupational privilege tax and what your city requirements are.
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A Look at Deferred Compensation Plans
October 13, 2022For many employees, generous benefits are more important than pay raises. There are several benefits options you can offer to attract and retain employees, including deferred compensation plans.
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Calculating Weighted (aka Blended) Overtime for an Employee With Multiple Pay Rates
October 13, 2022Do you have an employee who has two or more positions in your business with different pay rates? Does that employee work overtime? If the answers to these questions are yes, you need to know about weighted overtime. Weighted overtime is common in small businesses that pay multiple pay rates to an employee. Learn what […]
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What Is the ABC Test, and How Can Small Business Owners Comply?
October 13, 2022The laws surrounding worker status have long been ambiguous. Deciding whether a worker is an employee or independent contractor has been largely left up to the employer’s discretion. Not anymore. Thanks to California’s 2018 court ruling, workers are now presumed to be employees.
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How to Pay Nonprofit Employees
October 12, 2022People often think that nonprofit organizations run off of volunteers, or if they do have employees, they are poorly paid. This isn’t always true. Many nonprofit organizations have employees and they are well compensated for their work. Nonprofits tend to attract and retain top talent by giving their employees compensation that is similar or equal […]
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What to Do With Deceased Employee Wages and Benefits
October 12, 2022Death is not easy for anyone. But, if an employee suddenly dies, your small business can be hit hard. Employees might want to use bereavement leave. You also need to keep your business’s administrative tasks going. When an employee dies, your payroll responsibilities don’t die, too. You will need to tie up any loose ends […]
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What Is Attendance Management?
October 12, 2022Employees come to work, do their jobs, and then go home. Day after day. But, sometimes employees call off sick or come in late. They might ask you to rearrange their schedules to accommodate their personal lives. How can you possibly keep track of all the coming and going? You need an attendance management system […]
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