Keeping track of your expenses is part of being a business owner. You probably heard it said that you need a separate business bank account in addition to your personal bank account. But, you might not be familiar with a payroll account. What is a payroll account, and should you consider opening one for your […]
Read More Should You Consider Opening a Payroll Account for Your Small Business?Payroll Articles
Payroll Tips, Training, and News
There’s More to the Cost of Firing an Employee Than Meets the Eye
October 17, 2022Losing employees can be devastating for your small business. Employee turnover can drain workplace morale and cost you time and money finding replacements. What’s even worse is having to fire an employee. Read on to find out the cost of firing an employee.
Read More There’s More to the Cost of Firing an Employee Than Meets the Eye
Who Pays Unemployment Tax? Understanding FUTA and SUTA Taxes
October 17, 2022When an employee becomes unemployed, they might qualify to receive unemployment benefits. Unemployment benefits are funded by unemployment taxes, which are paid based on employee wages. But who pays unemployment tax? You or your employees?
Read More Who Pays Unemployment Tax? Understanding FUTA and SUTA Taxes
ACH vs. Wire Transfers: Which Should You Use to Pay Employees?
October 17, 2022Paying employees electronically is a good option. You use less paper and employees are less likely to lose their checks. Because the payments go directly into employee bank accounts, your workers are guaranteed to get their money. As you look at ways to send electronic payments, you might come across two methods: ACH and wire […]
Read More ACH vs. Wire Transfers: Which Should You Use to Pay Employees?
Handling Employees Who Want to Waive Coverage from Health Insurance
October 17, 2022Health insurance is a great benefit to offer employees. According to the Bureau of Labor Statistics (BLS), 71% of all private industry businesses offer health benefits. But, what happens when employees want to opt out of employer health insurance? They waive coverage.
Read More Handling Employees Who Want to Waive Coverage from Health Insurance
What Is Schedule A (Form 940)?
October 14, 2022Are you a small business owner with employees? Even if you had only one worker this year, you need to manage your FUTA taxes, and send Schedule A and Form 940 to the IRS. What is Schedule A (Form 940)?
Read More What Is Schedule A (Form 940)?
What Percentage of Health Insurance Do Employers Pay?
October 14, 2022Offering employer-sponsored health insurance keeps your employees healthy and happy. If you’ve decided to provide coverage, you might be wondering, “What percentage of health insurance do employers pay?” Learn what you must pay as an employer, and look at recent data on average costs.
Read More What Percentage of Health Insurance Do Employers Pay?
What Is Workers’ Compensation Fraud?
October 14, 2022Accidents can happen in the workplace. When an employee gets a work-related injury or illness, your business could be on the line. Workers’ compensation insurance protects you by reimbursing employees when accidents take place. But, employees, employers, and even health care providers can take advantage of the system by committing workers’ compensation fraud. Workers’ comp […]
Read More What Is Workers’ Compensation Fraud?
Is There Such a Thing as Self-employed Unemployment?
October 14, 2022No small business owner wants to think about their company going under. But, planning ahead can help you prepare for the worst possible scenario: unemployment. Millions of people claim unemployment benefits each year in the United States. You might wonder if you can receive these benefits as a business owner. You must understand the rules […]
Read More Is There Such a Thing as Self-employed Unemployment?
Are Reimbursements Taxable? Guidance on Employee Expense Reimbursement Plans
October 14, 2022Sometimes, 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.
Read More Are Reimbursements Taxable? Guidance on Employee Expense Reimbursement Plans