Archives

One of the most critical tasks for any business owner is understanding and complying with federal employment taxes. From correctly withholding payroll taxes to depositing and reporting those amounts to the IRS and other government agencies on time, business owners have a legal obligation to follow tax deposit and reporting rules. Neglecting those rules could […]

Running payroll isn’t just about cutting checks and calling it a day. Once you’ve paid your team, the IRS wants its share, and they want it on time. That’s where things can get a little tricky. When are payroll taxes due? Well, it depends on your business’s size, your payroll frequency, and how much tax […]

If unplanned events and periods of rapid change affect your business’ growth and productivity, you’re not alone. When it rains, it pours and businesses across industries face the same problem. The people best qualified to help weather the storm are often overworked because they are also responsible for paying employees the right amount at the […]

Payroll tax penalties shouldn’t be a cost of doing business, but every year thousands of organizations find themselves paying them. Items like incorrect calculations, missed deadlines and misreporting are typically to blame. While employers can avoid costly errors with diligent payroll processing, partnering with a payroll provider may become increasingly beneficial as your payroll needs […]

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 […]