Posts Tagged ‘Payroll’
How to Read a Paycheck—The Easy Way
When entrepreneur and Muppeteer Jim Henson made his first dollar, he framed it and hung it on his office wall. For everyone, whether you’re the company owner or an employee, earning an income is a source of pride and a primary foundation for economic security. Surprisingly, in spite of how important getting paid actually is, most people…
Read More5 Tax-Time Resources for Small Business Owners
When you own a company, you gain more insight into the tax process than you probably ever cared to. Not only are you responsible for paying taxes on your own income, depending on your business structure, you will be on the line for other forms of taxes as well. For example, self-employed sole proprietors will pay self-employment taxes,…
Read MoreHow to Handle Taxes on Bonus Wages Like a Payroll Expert
This blog post is written for American businesses. Click here for How the Bonus Tax Method Works in Canada. Supplemental wages are the wage payments you pay an employee outside of their regular wages. If you give your employee a bonus, it is considered a supplemental wage. Supplemental wages, like bonuses, have additional tax requirements that you need…
Read MorePayroll and Tax Issues to Be Aware of at Year-End
With an overhaul of the nation’s tax system in full swing, it can be difficult for small businesses to know what to expect when it comes to tax laws and regulations next year. But, if you manage a business, you know you still need to take care of the current year’s payroll and tax issues…
Read MoreHow to Streamline the HR Process Using Technology
There can be no doubt that over the last two decades, technology has entirely changed the way that most companies do business. Indeed, most firms would struggle to continue operating if their technology was suddenly to become unavailable. Some aspects of commerce such as accounting are quite obviously synergistic with technology. But when it comes…
Read MoreResearch Credit Can Offset Payroll Taxes for Small Businesses
Does your small business engage in qualified research activities? If so, you may be eligible for a research tax credit that you can use to offset your federal payroll tax bill. This relatively new privilege allows the research credit to benefit small businesses that may not generate enough taxable income to use the credit to…
Read MoreAn Expert Guide to US Payroll Taxes
U.S. Payroll Taxes — The Taxes No One Expects… While everyone is well aware of the impact of business income taxes, the sleeping giant of payroll taxes (also known as employment taxes or trust fund taxes) often catches business owners and employees by surprise. This guide will give you an overview of what payroll taxes…
Read More10 Payroll Mistakes Every Business Should Avoid
Payroll affects every aspect of business: anticipating and avoiding common payroll mistakes is preferable to dealing with their consequences… Every good business relies on an effective payroll department. Beyond the crucial matter of delivering salaries accurately and on time, payroll is a foundation on which all other departments and processes are built—and sends an important…
Read MoreSwitching Payroll Providers: A 5-Step Checklist
Any kind of change can feel overwhelming and switching payroll providers is no exception. Getting it wrong can also result in an administrative nightmare or worse—which is why you should follow these steps to cover all your bases as you make the switch. Step 1: Notify Your Current Provider Most companies require a 30-day notice.…
Read MoreWhy Your New Small Business Needs Payroll Software
You’re a new small business and the world is at your feet—as are a 100 million other clichés and things to do. Here lies the question: Should you spend hours calculating payroll and writing paper checks or would that time be better spent focusing on growing your business? This is why the review site, Software Advice,…
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