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  • What Is a Workweek?

    posted by Kaylee Riley
    Newest Article
  • What Is a Workweek?

    Let’s say your employees come to work Monday through Friday. They don’t work at all on Saturday and Sunday. Monday through Friday is their workweek, right?

    Not when it comes to the Fair Labor Standards Act (FLSA) and your payroll.

    For payroll, there are no such things as business days and weekends. Every day must be accounted for when paying employees. That’s why it’s important to know the true workweek definition. So, what is a workweek?

    Should You Consider Opening a Payroll Account for Your Small Business?

    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 small business?

    How to Set up a 401(k) Plan for Small Business

    Benefits are an important part of an employee’s compensation package. One popular benefit you can offer is a retirement plan for employees. In the private industry, about 66% of workers have access to retirement benefits. Of the retirement plans you could offer, 401(k) plans are the most popular. Learn how to set up a 401(k) plan for small business.    

    Looking at the Average Vacation Time to Determine Your Business’s Policy

    As a small business owner, you get to determine whether your employees receive paid time off from work or not. If you choose to offer paid vacation and sick days as an employee benefit, you might not know where to start. Knowing the national average vacation time could help you decide.

    With paid vacation time, your employees receive their regular wages when they aren’t at work. This lets employees spend time with their families, focus on their hobbies, or take a break from work.

    FSA vs. HSA: What’s the Difference?

    There are many benefits you can choose to offer your employees. Flexible spending accounts (FSA) and health savings accounts (HSA) are both great healthcare plans that reduce an employee’s income tax liability and let them pay for medically-related expenses. It’s important for employees and employers to understand the difference between FSA vs. HSA.

    How to Pay Payroll Taxes

    You must deduct payroll taxes from employees’ wages. But, what do you do with the withheld money? You can’t hold onto it until someone asks for it.

    You must pay payroll taxes to the federal government. Some employers might have to send money to their state and local governments, too.

    Learn how to pay payroll taxes so you can remain legal and prevent penalties.  

    What to Know About Salary Advances

    Sometimes, an employee might hit a financial rough patch. Something unexpected might happen, such as a medical emergency, that requires more money than the employee has saved up.

    If this happens, the employee might ask you for a salary advance to help them make ends meet. Before you begin giving payroll advances, you need to create a policy and know what you’re required to do.

    How to Calculate Payroll Taxes

    Being a small business owner means you are in charge of handling taxes for your employees. Before giving employees their paychecks, you are required to withhold payroll and income taxes. Knowing how to calculate payroll taxes is an important part of being a business owner.

    Pros and Cons of Direct Deposit

    There are a few different payment options you can offer your employees. Direct deposit is one popular choice for both employees and employers. Before implementing it at your business, weigh the pros and cons of direct deposit.

    What Is an ITIN?

    For identification and tax reporting purposes, both employers and workers need Taxpayer Identification Numbers (TINs). These numbers let the IRS identify you when you fulfill your reporting and filing requirements. One Taxpayer Identification Number you should know about is the ITIN. What is an ITIN?

    What Is a Workweek?

    Let’s say your employees come to work Monday through Friday. They don’t work at all on Saturday and Sunday. Monday through Friday is their workweek, right?

    Not when it comes to the Fair Labor Standards Act (FLSA) and your payroll.

    For payroll, there are no such things as business days and weekends. Every day must be accounted for when paying employees. That’s why it’s important to know the true workweek definition. So, what is a workweek?

    Should You Consider Opening a Payroll Account for Your Small Business?

    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 small business?

    How to Set up a 401(k) Plan for Small Business

    Benefits are an important part of an employee’s compensation package. One popular benefit you can offer is a retirement plan for employees. In the private industry, about 66% of workers have access to retirement benefits. Of the retirement plans you could offer, 401(k) plans are the most popular. Learn how to set up a 401(k) plan for small business.    

    Looking at the Average Vacation Time to Determine Your Business’s Policy

    As a small business owner, you get to determine whether your employees receive paid time off from work or not. If you choose to offer paid vacation and sick days as an employee benefit, you might not know where to start. Knowing the national average vacation time could help you decide.

    With paid vacation time, your employees receive their regular wages when they aren’t at work. This lets employees spend time with their families, focus on their hobbies, or take a break from work.

    FSA vs. HSA: What’s the Difference?

    There are many benefits you can choose to offer your employees. Flexible spending accounts (FSA) and health savings accounts (HSA) are both great healthcare plans that reduce an employee’s income tax liability and let them pay for medically-related expenses. It’s important for employees and employers to understand the difference between FSA vs. HSA.

    How to Pay Payroll Taxes

    You must deduct payroll taxes from employees’ wages. But, what do you do with the withheld money? You can’t hold onto it until someone asks for it.

    You must pay payroll taxes to the federal government. Some employers might have to send money to their state and local governments, too.

    Learn how to pay payroll taxes so you can remain legal and prevent penalties.  

    What to Know About Salary Advances

    Sometimes, an employee might hit a financial rough patch. Something unexpected might happen, such as a medical emergency, that requires more money than the employee has saved up.

    If this happens, the employee might ask you for a salary advance to help them make ends meet. Before you begin giving payroll advances, you need to create a policy and know what you’re required to do.

    How to Calculate Payroll Taxes

    Being a small business owner means you are in charge of handling taxes for your employees. Before giving employees their paychecks, you are required to withhold payroll and income taxes. Knowing how to calculate payroll taxes is an important part of being a business owner.

    Pros and Cons of Direct Deposit

    There are a few different payment options you can offer your employees. Direct deposit is one popular choice for both employees and employers. Before implementing it at your business, weigh the pros and cons of direct deposit.

    What Is an ITIN?

    For identification and tax reporting purposes, both employers and workers need Taxpayer Identification Numbers (TINs). These numbers let the IRS identify you when you fulfill your reporting and filing requirements. One Taxpayer Identification Number you should know about is the ITIN. What is an ITIN?

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