Payroll Tag

Many companies subscribe to myths about payroll. Let us "bust" them for you. 1. I don't have enough employees to use a payroll service   Even if you have only one employee, there's still a lot to be done in terms of payroll. Ultimately, you must ensure that...

14 June, 2021

In 2016, the National Automated Clearing House Association (NACHA) reported that 82 percent of U.S. employees are paid by direct deposit, jumping from 74 percent in 2011. Clearly, direct deposit is on the rise. But you may be surprised to learn that, according to the NACHA...

10 June, 2021

Payroll and taxes are usually a confusing topic for businesses who can easily find themselves in trouble with the IRS if payroll taxes are not reported correctly. For churches and places of worship, payroll taxes can be especially tricky due to the dual-tax status of...

03 November, 2020

Whether you’re a small-business owner or an HR professional in a larger company, managing payroll can be a real hassle. The rules and regulations surrounding payroll can be complex, and often vary from region to region.  Outsourcing your payroll functions to a firm that specializes in...

12 October, 2020

WASHINGTON -- President Trump's monthslong insistence on a payroll-tax cut continues to shape discussions over the next round of economic relief despite a lukewarm reception from economists and lawmakers in both parties. Mr. Trump's basic argument -- lower payroll taxes reduce hiring costs and put money in workers' pockets --...

24 July, 2020

The U.S. Chamber has updated the Guide to PPP Loan Forgiveness.  This guide reflects recent substantive changes made by Congress and the administration to the PPP program to provide borrowers with more flexibility. These changes include: Extending the time to spend PPP funds from 8...

23 June, 2020

Payroll accounting is about recording your payroll expenses in your accounting system. These recordings are called "payroll journal entries," which can be made in your payroll journal and then posted to your general ledger. Or they can be recorded directly in your general ledger. To understand...

05 March, 2020

The fluctuating workweek method of calculating overtime has been on the books for decades. The Supreme Court first approved the method in 1942, shortly after the Fair Labor Standards Act (FLSA) was enacted [Overnight Motor Transp. Co. v. Missel, 316 U.S. 572 (1942)]. Moreover, Department...

05 February, 2020

Bonuses are a form of variable pay that are used to inspire employee loyalty or reward performance, and it's essential to know about the different kinds. Discretionary Bonuses   A bonus is discretionary if it's given solely at the employer's discretion and does not cause an expectation of...

08 January, 2020

You may have overpaid an employee because someone entered the wrong information into the system. Or maybe the employee or his or her supervisor submitted inaccurate data. Either way, this type of error is usually easily fixable. You do have to follow certain procedures, however. Reclaiming...

03 January, 2020