For some business owners, running payroll might be like learning a foreign language. You are a master of your business idea, not the administrative responsibilities that come with it. Because you might not be familiar with these responsibilities, you might have some payroll questions.
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What Small Business Owners Should Know About Payroll Analytics
April 18, 2024Are your employees working too much overtime? Who needs a raise? Are you spending too much money on a department? To get answers to these types of questions, analyze your payroll data. Use payroll analytics to make decisions, avoid overspending on payroll, and verify the accuracy of your payroll.
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Payroll Forecasting: Strategies for Predicting Employee Expenses
April 15, 2024Payroll is arguably a business’s biggest expense. Between taxes and benefits, an employee costs up to 32% more than their wages. To accurately budget for your payroll-related expenses, try payroll forecasting.
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Form 1099-NEC vs. W-2 Differences: Which Should You Use?
April 4, 2024After the end of every year, you need to report your workers’ wages. You must send a form to the worker and governments. But, which IRS form do you send? The form you use (Form 1099 vs. W-2) depends on if the worker was a contractor or an employee.
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What Is Certified Payroll? What to Know If You Land a Federal Contract
February 29, 2024Step 1: Land the contract for a federal government-funded job. Step 2: Comply with your certified payroll reporting requirements. What is certified payroll?
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How to Fill Out Form 944: Step-by-step Guide
December 5, 2023All employers are responsible for reporting employee wage and tax information to the IRS. Many employers use Form 941 to report this information each quarter. But some eligible small business owners use Form 944 to report wages and taxes annually instead. Are you one of them? If so, you need to learn how to fill […]
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SOC Codes and Mandatory Reporting: Does Your State Want Worker Classification Data?
February 27, 2023“What’s your occupation?” Everybody gets this question: at the doctor’s office, when opening a new bank account, etc. People are curious. They want to know what it is exactly you do for a living. And if you’re an employer, the government wants to know what your employees do, too. To find out, federal and state […]
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State W-2 Filing Deadlines [+ Chart]
January 9, 2023If you’ve had employees for a while, you know the drill. Every year, you must prepare and send Forms W-2 to the proper parties, which typically includes the state. For on-time reporting, you need to know your state W-2 filing deadlines.
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Can Your Employees Change W-4 Forms?
December 16, 2022New employees must complete Form W-4 before they start working at your business. With Form W-4, employees input information that determines their federal income tax withholding, which allows you to run payroll. To adjust their withholding, employees must change W-4 forms.
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How to Perform a Form W-2 Reissue
October 19, 2022Important documents go missing or get damaged all the time. An employee’s Form W-2 is one document that might be subject to those fates. An employee might send the form through the wash, toss it out with the junk mail, or simply lose it out of their back pocket. No matter what happens to the […]
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