The tax world is overflowing with funky-sounding acronyms, and FUTA might be the strangest one out there. You may be wondering, What is FUTA tax? The Federal Unemployment Tax Act (FUTA, for short) is a federal law imposing an unemployment tax on employers. If you’re an employer, you have to know about FUTA tax—because you’ve […]
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Author:
Mike Kappel
Mike Kappel, serial entrepreneur and CEO of Patriot Software, offers payroll advice from more than 30 years of experience to small business owners.
What to Include in an Employee Handbook
Every business should follow a set of rules and procedures to keep operations running smoothly. As your small business grows, you will need a strong employee handbook to set expectations for employees. Knowing what to include in an employee handbook can help you better enforce your business’s rules and policies.
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Your Guide to Take-home Pay
As an employer, you are responsible for withholding various taxes from employees’ wages. After you subtract all of the taxes and other deductions, money left over is considered take-home pay. Read on to learn more about what is take-home pay and how to calculate it.
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What Is Bonus Pay?
When you first start your business and hire employees, you might be worried about how you’ll make payroll each pay period. But once your business is firmly planted, you might be able to give more money to your employees. One thing you might want to offer employees is bonus pay.
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What Is Child Support Withholding?
Only 44% of custodial parents receive the full amount of child support. And when a parent doesn’t voluntarily meet their child support obligations, employers might be involved in the child support process.
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The Pros and Cons of Hiring Seasonal Employees for Your Small Business
Some small businesses only operate during parts of the year, such as snow plow and lawn care services. These types of businesses are usually considered seasonal employers. The idea of hiring seasonal employees may sound appealing. But, you should weigh your pros and cons before becoming a seasonal employer.
Read More The Pros and Cons of Hiring Seasonal Employees for Your Small Business
What Is an Information Return, and Why Your Small Business May Need to File One
Every small business makes payments to operate. Some of these payments must be reported to the IRS or Social Security Administration (SSA). Companies must use information returns to report qualifying payments. Do you need to file an information return?
Read More What Is an Information Return, and Why Your Small Business May Need to File One
What Does Direct Compensation Include?
As an employer, you may give employees several types of compensation, including direct compensation. So, what’s direct compensation? And, what are the different types?
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How to Do a Background Check: 6 Steps for Due Diligence When Hiring Employees
According to one source, 96% of employers conduct at least one type of background screening. If you’re like many business owners, you likely want to do your due diligence before making any hiring decisions. Otherwise, you could be left with some rotten apples and wasted time. If you haven’t already, jump on the background check […]
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How to Hire Employees Who Are the Best of the Best
Do you know how to hire employees? What all goes into the hiring process? For starters … a lot. Too much for one regular article to cover, which is why I’ve written this mega article.
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