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When it comes to running payroll, there are a lot of terms you need to be familiar with. One that you need to know like the back of your hand is gross wages. But, what are gross wages? And, how do you calculate them for your employees’ checks? We’ve got the answers to these questions […]
Read More What Are Gross Wages, and How Do You Calculate Them?
Taking on an independent contractor is different than hiring an employee. There are differences in the forms you must gather, wage reporting, and how you pay contractors vs. employees. So, how do you run contractor payroll if it’s different from paying employees? Read on to learn the answer to that question and more.
Read More Running Contractor Payroll the Right Way
S corporations can take advantage of retirement plans. However, there are certain rules you have to follow when it comes to contributions and retirement plans for S corporations. Learn about the various types of retirement plan options for S Corps and how to handle S Corp retirement contributions the right way.
Read More How Do S Corp Retirement Contributions Work?
Say you have a PTO (paid time off) accrual policy where employees earn hours throughout the year. One of your employees goes on maternity leave, a type of Family and Medical Leave Act (FMLA)-covered leave. She’s gone for 12 weeks. Does PTO accrue during FMLA?
Read More Does PTO Accrue During FMLA?
Here’s the situation: Your employee takes a little time off because they can’t physically work. What happens? In some cases, the employee must receive short-term disability insurance benefits. But, that all depends on whether you decide to offer it—or whether your state forces you to due to a state disability insurance program. Does yours? Let’s […]
Read More An Overview of State Disability Insurance for Employers
You know employees like employer-sponsored benefits. As an employer, offering benefits is advantageous for your business, too. A nonqualified deferred compensation plan is one type of benefit that both you and your employees can enjoy.
Read More Should You Offer a Nonqualified Deferred Compensation Plan?
Ah, the joys of employerhood. Having a team of employees to help grow your business can be a beautiful thing. But, getting the hang of payroll—especially payroll taxes—takes time. Not to mention, a multi-state payroll situation can confuse newbie and established employers alike. What’s an employer to do?
Read More What to Do If You’ve Got a Multi-state Payroll Situation on Your Hands
Update! On April 29, 2022, Minnesota signed a Trust Fund Replenishment bill into law, changing the 2022 Special Assessment (Federal Interest Loan Assessment) from 1.80% to 0.00%.
Read More Your Go-to Minnesota Federal Loan Interest Assessment Guide
There are a variety of ways you may give your employees time off from work. Some of these include paid time off such as vacation, sick, or holiday time. And if you offer holiday time, there may come an instance when a holiday overlaps with a day an employee would already have off from work. […]
Read More What Is a Floating Holiday?
When the clock strikes midnight on new year’s, bam! It’s about time to complete Form 940, Employer’s Annual Federal Unemployment (FUTA) Tax Return. The FUTA tax return differs from other employment tax forms in a few ways. So, how to fill out a 940 tax form also differs. Learn how to fill out Form 940 […]
Read More How to Fill Out Form 940 the Right Way
