Author Archives: boatswainassociates

Employee Burnout: More Than Bad Attitude

Employee Burnout: More Than Bad Attitude Employee burnout is a real problem that impacts productivity and employee satisfaction. It is not something that can be overlooked as a “bad attitude.” The World Health Organization (WHO) recognizes burnout as “a syndrome conceptualized as resulting from chronic workplace stress that has not been successfully managed,” and listsContinue reading “Employee Burnout: More Than Bad Attitude”

Why Use Time and Attendance Software?

Why Use Time and Attendance Software? Documentation is key to wage and hour compliance. Simplify time tracking by automatically calculating hours worked as well as vacation time, holidays, sick days and overtime. There was a time, not so long ago, when time sheets were filled in manually. Spreadsheets were the next development, but today, managersContinue reading “Why Use Time and Attendance Software?”

Is This Your Situation: Learning The Essentials of Payroll Tax

Is This Your Situation: Learning The Essentials of Payroll Tax 1. Extra compensation must be carefully timed. Incentivizing employees with bonuses is a great way to boost performance, and it’s important that the bonus checks are distributed at the same time that payroll taxes are paid. Otherwise, you could be subject to a penalty. TheContinue reading “Is This Your Situation: Learning The Essentials of Payroll Tax”

Employee Retention Credit: Further Guidance

Employee Retention Credit: Further Guidance In COVID Tax Tip 2021-123, the IRS clarifies some of the confusion surrounding the powerful but complex Employee Retention Credit. The IRS is addressing changes made by the American Rescue Plan Act of 2021 that apply to the third and fourth quarters of 2021. These changes include: Making the credit availableContinue reading “Employee Retention Credit: Further Guidance”

Taxation and Economic Nexus: A Review

Taxation and Economic Nexus: A Review It has been three years since the Supreme Court’s decision in South Dakota v. Wayfair, Inc. The ruling in the Wayfair case changed the standard for when states need to collect sales tax from entities doing business in the state. Before the decision, states taxed only companies with aContinue reading “Taxation and Economic Nexus: A Review”

What Employers Need to Know About FICA Taxes

What Employers Need to Know About FICA Taxes The Federal Insurance Contributions Act (FICA) mandates that employers have to withhold, and also match, certain taxes. FICA consists of Social Security (formally known as the Old-Age, Survivors and Disability Insurance, or OASDI) and the Medicare taxes. The current tax rate for the Social Security tax isContinue reading “What Employers Need to Know About FICA Taxes”

4 Steps to Controlling Your HR Costs

4 Steps to Controlling Your HR Costs The first step to controlling human resources (HR) costs is to identify the functions covered by your HR department. Generally, they include: Recruiting, sourcing, selection and hiring. Onboarding, training and development. Guiding employees through their employment life cycle. Developing HR strategies based on existing and projected needs. Establishing,Continue reading “4 Steps to Controlling Your HR Costs”

Is This Your Situation: You Need Help Switching Payroll Providers

Is This Your Situation: You Need Help Switching Payroll Providers If you’re feeling dissatisfied with your payroll provider, it’s probably time to move on. But the road to greener pastures is complicated. Unless you have trained human resources or payroll staff on-site, you’ll likely need some advice from an independent consultant — who can helpContinue reading “Is This Your Situation: You Need Help Switching Payroll Providers”