Employers, this one’s for you. After withholding payroll taxes from your employees’ wages (and contributing the employer share), you need to deposit the taxes with the IRS. But that’s not all. You must also report the taxes on either Form 944 or 941. So, what’s the difference between Form 944 vs. 941?
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Payroll Tips, Training, and News
PPP Loan Forgiveness: How to Get Your PPP Loan Forgiven
March 3, 2021With loan forgiveness on the line, you probably didn’t apply for a Paycheck Protection Program (PPP) loan for the low-interest rate of 1%. So, you got the loan. Now, you want to know how to get your PPP loan forgiveness.
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PPP Loan vs. Employee Retention Credit: Why Not Both?
March 1, 2021Businesses could apply for a Paycheck Protection Program loan through May 31, 2021. As of June 1, 2021, the SBA is no longer accepting PPP loan applications. And, Congress 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 […]
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Do Employees Pay Into Unemployment?
February 22, 2021As an employer, you know you have to pay certain taxes, like unemployment taxes. But you may be wondering, Do employees pay into unemployment insurance? Get the scoop on whether or not your employees need to pay into unemployment.
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What Are the Benefits of Direct Deposit?
January 20, 2021There are a number of options when it comes to paying workers. Have you considered using a direct deposit service to pay your employees? A lot of other employers have. In fact, more than 93% of employees receive their paycheck via direct deposit.
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What Is the Consolidated Appropriations Act?
January 5, 2021Between a worldwide pandemic and numerous COVID-19 relief laws to keep up with, 2020 was a whirlwind of a year. And, it looks like the start of 2021 is following in 2020’s footsteps.
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Whoops! Use IRS Form 941-X to Correct Errors Made on Your Quarterly Form
December 2, 2020Picture this: You fill out your quarterly Form 941 and submit it to the IRS. Everything seems fine and dandy … until you realize you made a mistake on the form. The panic sets in, and you’re left wondering what to do. Instead of stressing about the blunder, learn how to use IRS Form 941-X […]
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6 Steps to Creating and Sticking to Your Payroll Calendar
November 18, 2020Employer A runs payroll at the same time every regular pay period. No hiccups, just a smooth, reliable process. Employer B tends to scramble, often forgetting about cutoff periods and being forced to expedite payroll. Quite stressful, and a bit expensive after a while.
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What in the World Is a Fringe Benefit Rate?
November 11, 2020As an employer, you probably offer your employees some types of fringe benefits. From health insurance to employee stock options to paid time off, there are a number of benefits out there. These benefits can impact your fringe benefit rate. So, what is a fringe benefit rate?
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Caution Ahead! Have You Heard of Hazard Pay?
November 9, 2020If you have employees who work in hazardous conditions, you may want to give them additional compensation for performing dangerous job duties. This is where hazard pay comes into play. Learn all about hazard pay, whether or not it’s mandatory, and how to create a hazard pay policy.
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