Can You Be Exempt and Nonexempt at the Same Time? You can allow an employee to work two different jobs for your company. However, under the FLSA, you cannot classify an employee as both exempt and nonexempt — it must be one or the other. To know which one to use, you must first combineContinue reading “Can You Be Exempt and Nonexempt at the Same Time?”
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Is This Your Situation: Considering Pay-As-You-Go Workers’ Comp Insurance
Is This Your Situation: Considering Pay-As-You-Go Workers’ Comp Insurance Pay-as-you-go workers’ compensation insurance is designed to smooth out the premium changes that occur during the year as employees come and go. Premium payments are made at the end of each payroll cycle and are based on the actual payroll cycle, so there’s no need forContinue reading “Is This Your Situation: Considering Pay-As-You-Go Workers’ Comp Insurance”
7 Considerations When Preparing Your Payroll Budget
7 Considerations When Preparing Your Payroll Budget Most companies spend 20% to 30% of their annual revenue on payroll. The exact amount varies based on the employer’s size, industry, and staffing and operational needs. In some industries, such as service, it’s not uncommon for payroll to encompass up to 50% of revenue. For other industries,Continue reading “7 Considerations When Preparing Your Payroll Budget”
Payroll Tax Rates and Contribution Limits for 2022
The payroll tax rates and contribution limits for 2022 have been released, and there are lots of changes. Click through to see exactly what is changing so you can make plans for the coming months.
Sick and Family Leave Reporting Guidance
The Treasury Department and the IRS have issued Notice 2021-53, which provides guidance to employers about using Form W-2 to report the amount of qualified sick and family leave wages paid to employees for leave taken in 2021. This is welcome news for many taxpayers, as this guidance covers the Families First Coronavirus Response Act asContinue reading “Sick and Family Leave Reporting Guidance”
Planning Ahead for Tax Credits and Deductions
Everybody wants to pay as little in taxes as possible. Most people use software or hire an accountant to help them find all the deductions they can subtract from their taxable income and all the credits they can subtract from their final bill. But most tax breaks require you, the taxpayer, to plan ahead. EvenContinue reading “Planning Ahead for Tax Credits and Deductions”
Workplace Culture in a New World
As businesses reopen their offices, how do your employees feel about your company and its future? Click through to take the pulse of your culture to ensure your employees’ experience at work infuses them — and you — with a sense of well-being.
Is This Your Situation: Tired of Getting Penalties on Tax Filings
If you file your tax return and pay your taxes on time, or if the IRS owes you a refund, you may never have to worry about IRS penalties. But if you file or pay late, or if you commit some other serious infraction, you could be on the hook for a penalty. If you’reContinue reading “Is This Your Situation: Tired of Getting Penalties on Tax Filings”
State and Local Tax Considerations for Remote Employees
Until the pandemic, no one could have envisioned how profoundly remote employment would affect the workplace. The rise of the hybrid office has led to some complex tax questions. Click through for some thoughts on how tax rules apply in a remote or hybrid environment.
Paid Time Off and State Regulations
Paid Time Off and State Regulations Many employees delay using their accrued time off, and so firms have rewritten their paid time off (PTO) policies to allow unused days to roll over into the next year. Does your state require employers to pay out PTO? If your company has locations in many states, you needContinue reading “Paid Time Off and State Regulations”