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  • What Is FUTA tax?

    What Is FUTA Tax?

    posted by Mike Kappel
    Newest Article
  • Exempt vs. nonexempt

    What Is the Difference Between Exempt and Nonexempt Employees?

    posted by Michele Bossart
    Recent Article
  • What Is FUTA Tax?

    Have you ever heard of a strange-sounding term called FUTA? All employers need to know about the Federal Unemployment Tax Act (FUTA) tax.

    After you’ve read this article, you’ll be able to answer “What is FUTA tax?” You’ll also know about the tax rates, when to pay the tax, and what form you need to file.

    What Is the Difference Between Exempt and Nonexempt Employees?

    Correctly running payroll means knowing the difference between exempt vs. nonexempt employees. You will need to categorize employees into appropriate groups based on their job duties and responsibilities. What is the difference between exempt and nonexempt employees?  

    What Is an Exempt Employee?

    Are all of your employees eligible to receive overtime pay? Some employees are exempt from overtime pay and minimum wage laws. Exempt employee qualifications are determined by the Fair Labor Standards Act (FLSA). In order to correctly run payroll, you need to be familiar with exempt employees. What is an exempt employee?  

    What Is Schedule A (Form 940)?

    Are 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)?

    Schedule A (Form 940) is a supplemental form that you attach to Form 940. You use Schedule A to determine your annual FUTA tax. This worksheet is especially important if you live in a credit reduction state.

    To get you started, let’s break down FUTA taxes and Schedule A.

    What Is Form 940?

    Did you employ workers at your small business this year? If so, you need to file Form 940. What is Form 940?

    Form 940 (Schedule A) is the Employer’s Annual Federal Unemployment (FUTA) Tax Return. Business owners with employees must fill out and submit Form 940 to the Internal Revenue Service (IRS). Form 940 is due every year along with an employer’s annual tax return.

    Will Impending Overtime Laws Raise Your Payroll Costs?

    Note: A federal judge ruled to stop the U.S. Department of Labor’s overtime rule on November 22, 2016. On December 1, 2016, the overtime rule will NOT go into effect. But, the overtime rule or a variation of the rule might go into effect at a later date. We will update information as it changes.

    The U.S. Department of Labor (DOL) passed the new overtime law on May 18, 2016. The new overtime laws go into affect December 1, 2016.

    What does this mean for small business owners? In short, your salaried workers who were exempt from overtime pay now might be eligible for overtime.

    New FLSA Salary Threshold: Talking to the Newly Nonexempt

    Note: The U.S. Department of Labor’s overtime rule will no longer go into effect on December 1, 2016. A federal judge ruled against it on November 22, 2016. An overtime rule will might still go into effect at a later date. We’ll update this article if more information becomes available. 

    The U.S. Department of Labor (DOL) recently introduced a new FLSA salary threshold. The DOL estimates that 4.2 million workers will be affected by the FLSA overtime rules.

    If you have exempt employees, you might have to make some changes to accommodate the new FLSA overtime rules. You will also need to talk to newly nonexempt employees about the overtime rules.

    New DOL Overtime Rule Announced. How Will it Affect Your Business?

    Note: On November 22, 2016, a federal judge ruled to stop the U.S. Department of Labor’s overtime rule. The overtime rule will not go into effect on December 1, 2016. However, the overtime rule or a variation of the rule might go into effect at a later date. We’ll keep you updated as information changes. 

    A new law is here, expanding overtime pay to 4.2 million exempt workers. The U.S. Department of Labor (DOL) passed the new overtime law on May 18, 2016, that changes the white-collar exemption and who can receive overtime.

    How to Comply With the New Salary Overtime Law [Infographic]

    Note: A federal judge ruled against the U.S. Department of Labor overtime rule on November 22, 2016. The ruling means the overtime rule will not go into effect on December 1, 2016. An overtime rule still might go into effect at a later date. We’ll keep you updated as more information is available. 

    The DOL’s new overtime rules for exempt employees dramatically increased the salary threshold in May 2016. The salary threshold is the minimum salary you must pay an employee for an employee to be exempt from overtime.

    Previously, the salary threshold was $24,660. Now, the threshold is $47,476. That is a 101% increase in the salary overtime law.  

    What Is Form I-9?

    There are a lot of forms to keep track of for your small business. Form I-9 is one of these forms that you must complete and accurately store in your records. Both you and each new employee you hire are required to fill out Form I-9.

    What Is FUTA Tax?

    Have you ever heard of a strange-sounding term called FUTA? All employers need to know about the Federal Unemployment Tax Act (FUTA) tax.

    After you’ve read this article, you’ll be able to answer “What is FUTA tax?” You’ll also know about the tax rates, when to pay the tax, and what form you need to file.

    What Is the Difference Between Exempt and Nonexempt Employees?

    Correctly running payroll means knowing the difference between exempt vs. nonexempt employees. You will need to categorize employees into appropriate groups based on their job duties and responsibilities. What is the difference between exempt and nonexempt employees?  

    What Is an Exempt Employee?

    Are all of your employees eligible to receive overtime pay? Some employees are exempt from overtime pay and minimum wage laws. Exempt employee qualifications are determined by the Fair Labor Standards Act (FLSA). In order to correctly run payroll, you need to be familiar with exempt employees. What is an exempt employee?  

    What Is Schedule A (Form 940)?

    Are 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)?

    Schedule A (Form 940) is a supplemental form that you attach to Form 940. You use Schedule A to determine your annual FUTA tax. This worksheet is especially important if you live in a credit reduction state.

    To get you started, let’s break down FUTA taxes and Schedule A.

    What Is Form 940?

    Did you employ workers at your small business this year? If so, you need to file Form 940. What is Form 940?

    Form 940 (Schedule A) is the Employer’s Annual Federal Unemployment (FUTA) Tax Return. Business owners with employees must fill out and submit Form 940 to the Internal Revenue Service (IRS). Form 940 is due every year along with an employer’s annual tax return.

    Will Impending Overtime Laws Raise Your Payroll Costs?

    Note: A federal judge ruled to stop the U.S. Department of Labor’s overtime rule on November 22, 2016. On December 1, 2016, the overtime rule will NOT go into effect. But, the overtime rule or a variation of the rule might go into effect at a later date. We will update information as it changes.

    The U.S. Department of Labor (DOL) passed the new overtime law on May 18, 2016. The new overtime laws go into affect December 1, 2016.

    What does this mean for small business owners? In short, your salaried workers who were exempt from overtime pay now might be eligible for overtime.

    New FLSA Salary Threshold: Talking to the Newly Nonexempt

    Note: The U.S. Department of Labor’s overtime rule will no longer go into effect on December 1, 2016. A federal judge ruled against it on November 22, 2016. An overtime rule will might still go into effect at a later date. We’ll update this article if more information becomes available. 

    The U.S. Department of Labor (DOL) recently introduced a new FLSA salary threshold. The DOL estimates that 4.2 million workers will be affected by the FLSA overtime rules.

    If you have exempt employees, you might have to make some changes to accommodate the new FLSA overtime rules. You will also need to talk to newly nonexempt employees about the overtime rules.

    New DOL Overtime Rule Announced. How Will it Affect Your Business?

    Note: On November 22, 2016, a federal judge ruled to stop the U.S. Department of Labor’s overtime rule. The overtime rule will not go into effect on December 1, 2016. However, the overtime rule or a variation of the rule might go into effect at a later date. We’ll keep you updated as information changes. 

    A new law is here, expanding overtime pay to 4.2 million exempt workers. The U.S. Department of Labor (DOL) passed the new overtime law on May 18, 2016, that changes the white-collar exemption and who can receive overtime.

    How to Comply With the New Salary Overtime Law [Infographic]

    Note: A federal judge ruled against the U.S. Department of Labor overtime rule on November 22, 2016. The ruling means the overtime rule will not go into effect on December 1, 2016. An overtime rule still might go into effect at a later date. We’ll keep you updated as more information is available. 

    The DOL’s new overtime rules for exempt employees dramatically increased the salary threshold in May 2016. The salary threshold is the minimum salary you must pay an employee for an employee to be exempt from overtime.

    Previously, the salary threshold was $24,660. Now, the threshold is $47,476. That is a 101% increase in the salary overtime law.  

    What Is Form I-9?

    There are a lot of forms to keep track of for your small business. Form I-9 is one of these forms that you must complete and accurately store in your records. Both you and each new employee you hire are required to fill out Form I-9.