4 Ways a Payroll Company or PEO Can Save You Time and Money

Posted by Celeste Gibson, FPC on Jan 9, 2018 9:00:00 AM

Outsource to a PEO and Focus on Growing Your Business

As a business owner, or human resources manager, you may not have all the time it takes to focus on the details of payroll processing. After all, you probably didn’t go into business to manage payroll and human resources.

Many employers choose to outsource payroll because they’re not experts on calculating overtime, paying employees who work across multiple states, or checking to make sure payroll taxes are paid and reported on time.

When you outsource payroll to a payroll company or PEO, it frees up your time to focus on the other responsibilities that come with running a business. Here are four ways a payroll company or PEO can save you time and money.

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Topics: Payroll

What Employers Should Know About Payroll Changes for 2018

Posted by Celeste Gibson, FPC on Dec 19, 2017 9:00:00 AM

The New Year means new laws and updates to payroll requirements. Many of the changes will effect payroll taxes, income taxes and retirement benefits. Here are four payroll changes for 2018 that employers should know about.

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Topics: Payroll

Payroll Tax Deductions: An Explanation for Employers

Posted by Celeste Gibson, FPC on Dec 12, 2017 9:00:00 AM

If you handle payroll, you’ve probably heard the term “payroll tax deductions.” The law requires payroll taxes be withheld from an employee’s paycheck. Employers then remit those taxes to various tax agencies. This article is meant to help you better understand what to withhold from employee paychecks, what to do with what you collect and how to report it. Here are some examples:

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Topics: Payroll

What Employers Should Know About Payroll Processing in 2018

Posted by Celeste Gibson, FPC on Nov 30, 2017 9:00:00 AM

As a small business owner, processing payroll can be overwhelming; especially if it’s the first time you’ve ever done it. There are so many things to learn, from new software to various payroll processes. You may even come across some terms you’ve never heard of before! This blog will help you navigate payroll processing in 2018, whether you choose to do it yourself or outsource it to a payroll company or Professional Employer Organization (PEO).

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Topics: Payroll

4 Payroll Tax Mistakes Small Business Owners Make

Posted by Dana Spinello, CPA on Jul 5, 2017 9:00:00 AM

One of the biggest expenses for your business is payroll and doing it correctly is essential. Along with paying your employees, comes paying taxes. Payroll taxes can be one of your biggest headaches. If not done correctly, you could face major penalties. It’s vital you properly calculate, withhold, report and deposit tax monies from employees’ paychecks. Here are just some of the taxes employers must account for:

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Topics: Payroll, payroll tax

Semi-Monthly Pay: What It Is and How to Run It

Posted by Christine Batten, PHR on Jun 27, 2017 9:00:00 AM

Running a semi-monthly pay for non-exempt employees can be challenging. It gets complicated because employers are required to track the actual number of hours worked each workweek (seven days) and pay overtime if more than 40 hours are worked in that workweek. But before detailing how to structure semi-monthly pay for your company, it’s first important to clearly understand what semi-monthly pay means.

What Is Semi-Monthly Pay?

Semi-monthly pay is payroll distributed to employees 24 times per year. This is a different pay structure than the more common bi-weekly payroll, which is distributed 26 times per year. Semi-monthly pay is typically distributed to employees on the 15th and the last day of each month. Bi-weekly payroll, meanwhile, is paid every other week, usually on Friday.

How to Structure Semi-Monthly Pay

A common mistake with semi-monthly pay is to assume 86.67 hours each pay period (or some other identical amount every pay period), however employers are required to track (and pay for) all hours actually worked (including overtime) each workweek, not an “average”. Unfortunately, there are not exactly the same number of workweeks in each month nor are there exactly the same number of days and hours in each semi-monthly pay period.

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Topics: Payroll, Human Resources, overtime

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