Key Points for on How Your Organization Can Survive a Minimum Wage Increase: At $7.25/hr, the federal minimum wage is nearly impossible to live on. Because of this, 24 states are raising their minimum wage rate above the federal standard. Most employees can’t wait for a minimum wage increase, but small and medium-sized businesses may…
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Make Managing Leap Years and Extra Pay Periods Easier! Download our Payroll Checklist Key Points: As a leap year, 2020 increases the chance of an extra pay period, but this change isn’t exclusive to leap years! The number of pay periods you have can actually vary each year depending on pay date and frequency. You…
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Key Points: Starting January 1, 2020, employees who are currently classified as exempt but earn less than $684 per week ($35,568 per year) will become eligible for overtime compensation To comply, employers can increase salaries to the new standard of $35,568 or retain current employee salaries and compensate any overtime hours Employers can prepare for…
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The IRS just released the finalized W-4 for 2020 and it’s ready to be used! If you didn’t see the initial draft of the W-4, click here to learn more about what changed from the version you’re familiar with. If you did see the first drafts, you’ll be happy to know that no drastic changes…
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The W-4 is set to get a makeover in 2020. The IRS believes this reboot will help employees avoid withholding the wrong amount on their W-4s. While it’s still just a draft, it’s clear that these updates will streamline and simplify this essential tax form. Here’s what you need to know. How it Looks Click…
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Do your employees understand the information included on their pay stubs? There’s a good chance that they don’t. Key points: Employers should not assume their employees understand what’s on a pay stub. Understanding what’s included on a pay stub can help to catch payroll errors before they become a more significant issue. Common parts of…
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Tax season is almost here and along with it comes a warning from the Internal Revenue Service (IRS) to watch for fake payroll direct deposit and W-2 related emails. According the IRS, all types of industries, employers and tax preparers are being targeted by business email spoofing tactics. These email scams are often masked to…
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By David Lewis, Executive Vice President Now that the Tax Cuts and Jobs Act has become law and the IRS just released the new income-tax withholding tables for 2018, you may be scratching your head about what exactly this means and what it will affect. The Act will have wide implications for millions of workers…
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By: Dave Ignaski, Payroll Tax Manager The concept of unemployment contributions rates can be tricky. For starters, not all 50 states even use that term. Some call them Unemployment Insurance while others use Unemployment Compensation. Regardless, all mean the same thing – a state-administered tax that is collected to provide a source of income for…
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State Unemployment Insurance (SUI) taxes are kind of a big deal. States maintain a trust fund from which they pay unemployment compensation benefits to claimants. This trust fund comes from the unemployment compensation tax paid by employers on a quarterly basis. Every year, the states adjust the individual tax rates that employers pay based on…
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