You must know each employee’s hours worked to run payroll. To do that, you must calculate hours worked. So, what does the process of calculating hours worked look like? Learn how to calculate hours worked step-by-step below, plus get an in-depth example.
Read More How to Calculate Hours Worked for Payroll [+ Tools to Use]Payroll Articles
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Payroll Cutoffs: Best Practices to Pay Your Employees on Time
Paying your employees on time is essential, especially because 62% of Americans live paycheck to paycheck. Plus, many state pay frequency requirements regulate when you pay employees. Understand payroll cutoffs to pay your team on time, every time. So, what is a “payroll cutoff?”
Read More Payroll Cutoffs: Best Practices to Pay Your Employees on TimeWhat Is Minimum Wage? Federal & State Rates for 2024
The minimum wage law prevents employers from paying employees below a certain amount per hour. What is minimum wage? There is a federal minimum wage, but many states and localities set a higher wage. Comply with labor laws by learning what minimum wage your business may be subject to.
Read More What Is Minimum Wage? Federal & State Rates for 2024How to Calculate Net Pay: Step-by-step Guide and Examples
Employee salary: $50,000 a year. But you know that’s not what they’re walking away with. Between taxes and benefit deductions, the employee’s take-home pay could be far from the $50,000 sticker price (cue the sad violin). Learn how to calculate net pay to find your employees’ take-home wages.
Read More How to Calculate Net Pay: Step-by-step Guide and ExamplesHow to Fill Out Form W-2: Box-by-box Breakdown
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 BreakdownNew W-4 Form: IRS Makes Minor Changes to 2024 Form, Allowances Still Out
You don’t file Form W-4 with the IRS, but your payroll depends on it. Employers use Form W-4 to determine how much to withhold from an employee’s gross wages for federal income tax. How familiar are you with the new W-4 form for 2024?
Read More New W-4 Form: IRS Makes Minor Changes to 2024 Form, Allowances Still OutWhat Happens If Payday Falls on a Bank Holiday? Mark Your Calendar
A whopping 65% of the U.S. population lives paycheck to paycheck. These employees (and likely all employees) count on receiving their wages on their scheduled pay date. But, bank holidays might pose a slight hiccup. What happens if payday falls on a bank holiday?
Read More What Happens If Payday Falls on a Bank Holiday? Mark Your CalendarHow to Calculate a Salary Raise Percentage for Your Employees
Fewer employers plan to give pay raises in 2024 than in 2023, according to SHRM. Even so, 79% of businesses plan to dole out pay raises. To avoid losing your top employees, you might consider offering pay raises. Learn about criteria for raises, when to give salary raises, and how to calculate a pay raise […]
Read More How to Calculate a Salary Raise Percentage for Your EmployeesUnderstand the Difference Between Exempt vs. Nonexempt Employees
Employees want the wages they deserve. Employers want to avoid penalties and fines. Want the best of both worlds? Understand the difference between exempt vs. nonexempt employees.
Read More Understand the Difference Between Exempt vs. Nonexempt EmployeesWhat Is a Nonexempt Employee?
Worker classification is critical. After you’ve narrowed down whether a worker is an independent contractor vs. employee, you’re not done. You need to also figure out if an employee is nonexempt. What is a nonexempt employee?
Read More What Is a Nonexempt Employee?