Pre-tax deductions refer to qualified deductions which lower the taxable wages of your employees. You will deduct their contribution from the gross wages prior to determining their tax withholding. There are pre-tax deductions which also subtract the taxable wages for the income tax. Meanwhile, others reduce the taxable wages for Medicare and Social Security taxes.…
When you run a small business with several employees, a sizable chunk of expenses in your business will go to paying your workers’ wages. For an employer, it is a must to keep track of your year-to-date payroll. Year-to-Date Payroll: A Short Definition Year-to-date payroll or YTD refers to the amount of money being spent…
You have probably heard of unfair scheduling and scheduling abuse in the workplace. For some, employers, they don’t really give much time with planning schedules and policies on time off. However, when you are a business leader or manager, you should make it your priority to ensure a fair and smooth running workforce to lessen…
There will always come a time when you need to change the pay of an employee, which can be either for good, or at times, for bad. You need some things to make sure that there will be smooth adjustments of the wages of your employees. However, before you make any employee pay adjustments, you…
Do you want to convert to another payroll provider, yet you’re hesitant to make some changes? Perhaps you are concerned that the process is time consuming with the issues including missed payroll periods and data errors. The most effective and successful payroll conversion has a streamlined conversion process, which meets the company’s unique needs while…
Real success in business needs a heady combination of taking risks in several areas and eliminating or mitigating some risks. Business leaders can’t get rid of all the risks, yet insurance may offer some cover only when the sky starts to fall. In spite of this, insurance is an aspect in which owners frequently try…
As the owner of your business whether it is big or small, you are ultimately responsible for everything regarding the business you started. That makes you totally accountable for compliance with all of the rules, regulations, and laws of the land. This includes things that you may not even be aware of, but that doesn’t…