Archives

Employee timesheets record hours worked, tasks, and projects, making them essential for productivity measurement, compliance with labor laws, and accurate payroll. Understanding the core responsibilities of timesheets and relevant software reveals how they promote transparency, accountability, and efficiency in your organization. What federal law governs time sheets? Federal law is the body of law created […]

A timesheet error can potentially cost you giant fines and quite possibly your business. All it takes is one tracking policy that’s not included in your system or a bad audit or simple complaint. The most ironic thing maybe you are not aware your business is in noncompliance, and it is all so preventable Every […]

If you were to review your employee personnel files today, would you possess all necessary employment records documenting employee names, dates of employment, and hours worked to comply with a Fair Labor Standards Act audit? If the answer to question is now you could be in violation of the Fair Labor Standards Act, which could […]

If you run a business, you may be wondering how long you should keep your business records. In this paperless age, many companies find themselves confused about record retention. Record keeping is a tedious but necessary evil of business. If you get it wrong, you can open yourself up to litigation, succession issues, and invite […]

As an employer, you will have employment tax obligations if you have employees. As an employer you are responsible to withhold and deposit the employees’ portions of taxes and for some taxes pay an employer portion. It’s not easy to remember all of the taxes that need to be paid by the employer for payroll, […]

The Failure to Deposit Penalty is applied to employers who fail to deposit employment taxes: This includes Federal Income Tax, Social Security and Medicare Tax and Federal Unemployment Tax. Employers are required to make monthly or semi-weekly federal employment tax deposits with the IRS. Your penalty is a percentage of the taxes you failed to […]

Freelancers or independent contractors differ primarily from regular employees in terms of their employment and tax status. W-2 employees A W-2 employee is regularly on payroll of an organization, and is hired to work for an unspecified period of time to perform an on-going activity. They also withhold taxes from their checks, sending them to […]

If you’re considering hiring someone, and you’re trying to decide whether to classify them as a W-2 employee or independent contractor, you’ll want to pay attention to this section and the one that follows below that goes more in depth into the rules. But there are also additional factors that are involved when you are […]

If you’re running a business, it’s important to stay compliant with all payroll tax laws and regulations. As an employer, this means you’re withholding and paying various payroll taxes on a regular basis to ensure your business is up-to-date with everything it needs to be. But since many business owners focus more on the day-to-day […]

You can select the retention system that best suits you, and most employers are gradually moving toward digitized records. Some in the industry see it as a potentially positive development as well. Digitally storing documents has its benefits: It is effective regardless of whether you file on computer or on a safe server. Or if […]