Part of the role of being an employer is withholding, contributing to, and remitting employment taxes. But, what happens if you don’t make a payment on time or pay an incorrect amount? Cue the Failure to Deposit Penalty.
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Payroll Tips, Training, and News
What Is the Employee Retention Credit, and How Does It Work for Employers?
December 20, 2021Heads up: Congress recently passed the Infrastructure Investment and Jobs Act, which President Biden signed on November 15, 2021. The new expiration date of the ERTC is September 30, 2021 for most businesses, and the IRS has provided guidance on failure to deposit penalties. Due to the coronavirus negatively affecting businesses nationwide, there are a […]
Read More What Is the Employee Retention Credit, and How Does It Work for Employers?
Oregon’s Multnomah County Preschool for All Tax: The Scoop
December 8, 2021If you’re an employer in Oregon (specifically in Multnomah County), listen up. There’s a new personal income tax that went into effect in 2021, and it may impact both you and your employees. What is this new tax in town, you ask? The Multnomah County Preschool for All tax.
Read More Oregon’s Multnomah County Preschool for All Tax: The Scoop
The Employer Guide to Oregon Metro Supportive Housing Services Tax
December 1, 2021Oregon employers have a new tax to add to their payroll radar: the Metro Supportive Housing Services (SHS) tax. So, what is the Metro Supportive Housing Services tax? Who must pay the tax? And, what does it fund?
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Want it in Writing? What to Know About an Employment Contract
November 29, 2021All states except Montana are at-will employment states, meaning employers and employees can end their relationship whenever they want. Employees can leave at any time, and employers can terminate an employee for any legal reason. However, the rules change if there’s an employment contract in play.
Read More Want it in Writing? What to Know About an Employment Contract
What Is IRS Form 5884-A for the Employee Retention Credit?
November 24, 2021Has your business experienced a disaster (e.g., tornado, hurricane, etc.)? If so, you may be eligible for the employee retention credit. But to claim the credit, you need to fill out Form 5884-A. Read up on credit eligibility, how Form 5884-A works, and how to fill one out for your business when a qualified disaster […]
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Running S Corp Payroll for an Employer’s Wages
November 17, 2021If you’re an S corporation owner, you need to run payroll for yourself. Part of S Corp ownership is listing yourself as an employee to pay yourself a salary. But, how do you run S Corp payroll? And, what do you need to know about the process before you write yourself your first paycheck?
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Ease Your Tax Burden: An In-depth Guide on Employment Tax Returns
November 15, 2021Employer responsibilities are countless, and taxes are arguably the most important. You need to know which taxes to calculate and withhold from employees, how much to contribute as an employer, how to file employee taxes, and more.
Read More Ease Your Tax Burden: An In-depth Guide on Employment Tax Returns
How Often Does Social Security Tax Increase?
November 8, 2021As an employer, you’re responsible for keeping up with the latest tax news and withholding the correct amount of taxes from employee wages. One tax that you constantly need to keep up with is Social Security tax. So, how often does Social Security tax increase? Read on to learn how frequently the Social security tax […]
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Do You Offer Group-term Life Insurance? Here’s What That Means for Taxes
November 8, 2021Company-sponsored life insurance is a pretty popular employee benefit. Eighty-five percent of organizations offer it, and 98% of employees with access to the benefit enroll. Thinking about offering group-term life insurance? Like any benefit, first understand employer tax responsibilities.
Read More Do You Offer Group-term Life Insurance? Here’s What That Means for Taxes