Payroll Taxes – The Small Business Tax Obligation You Better Pay or Else
The main problem that most small business owners face these days is that they have to keep themselves updated with recent federal, local, and state laws. It is entirely up to the owners that whether they want to hire a professional who can handle their tax issues or not. It is also possible that the […]
The Breakdown of Payroll Taxes and How They Get Paid
Chances are, if you were to pull out your latest pay stub, you would see two important lines among the list of taxes taken out of your wages: FICA and MEDFICA. If you were to do the math, these two lines, standing for Federal Insurance Contributions Act and Medicare Federal Insurance Contributions Act respectively, take […]
Top Payroll Tax Issues Businesses are Dealing with in 2021
Payroll taxes are the taxes that are imposed on the employees. Employees and employers face many payrolls tax issues and they find it quite challenging to tackle these issues efficiently. Knowing about these issues makes it easier for employers to resolve them properly. Here are the top payroll tax issues faced by employers that you […]
Strategies to Consider Employing to Lower Payroll Tax Penalties
According to Payroll tax penalties, Sec. 6656, when you are not able to deposit the taxes then it becomes a very catastrophic situation. A business generally faces a payroll penalty when it gets very difficult for it to afford especially for new businesses or the businesses with poor cash flow. Businesses can eliminate the payroll […]
Why Your Company Should Look at Outsourcing Employee Benefits Administration
While many don’t think so, the Employee Benefits Department plays a huge role organizational success. This important role that the Employee Benefits Department must play requires it to work smart and effectively. Hence, most of the modern employee benefits departments now employ a mixture of in-house, outsourcing, and co-sourcing workforce to keep the all the […]
How Payroll Tax Penalties are Calculated
The payroll tax penalty is calculated when you multiply the amount of the late payment by a payroll tax penalty percent. This percent depends on the number of days late as clearly visible from the following table. DAYS LATE | PENALTY PERCENT 1-5 | 2% 6-15 | 5% Above 15 | 10% How the Payroll […]
Employee Benefits Administration Outsourcing Factors Every Company Should Consider
Currently, many companies prefer to choose outsourcing options when they want to give any type of employee benefits. In most cases, companies rarely outsource programs that involve educational training and communication skill development of the employees. Apart from this, the development of benefit programs strategy and design must be the priority of the companies that […]
Why Employee Benefits Are Critical to the Success of Your Business
Have you ever questioned if the cost of employee benefits outweighs the additional administrative work? Here’s a suggestion: Learn about the value of employee perks and how providing them may help your company. What is the significance of employee benefits? Employee benefits: how crucial are they? Instead of a pay raise, 79 percent of employees […]
Top Tenets to Follow for Positive Impactful Employee Coaching
In athletics, the function of a coach is highly regarded. However, for some reason, this belief is rarely used in the job market. Managers are frequently seen as overseers rather than mentors. Coaching in the workplace is equally as important as it is on the field or court. Employee coaching is an essential component of […]
Top Hiring Practices During COVID-19
COVID-19 has shifted many industry sectors of the workforce. For companies that are able, social distancing measures have made remote work the new norm. Employees are transforming homes into workspaces, often simultaneously managing childcare and personal obligations. Businesses are facing difficult decisions about how to adapt and survive this profound shift and hiring practices have […]
