When you hire new employees, you must collect information to verify employment eligibility and run payroll. Federal Forms W-4 and I-9 are just the beginning when it comes to new employee forms. You may also need to collect state-specific forms, including your state’s W-4. What is the state W-4 form?
Read More State W-4 Forms: Don’t Forget to Collect from New HiresPatriot Software's Blog
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Is Overtime Taxed Differently Than Regular Wages?
If you have nonexempt employees, you have to pay them overtime wages whenever they work overtime hours.
Read More Is Overtime Taxed Differently Than Regular Wages?What’s the Difference Between Pre-tax and Post-tax Deductions?
If you provide benefits to employees, you probably wonder how to withhold wages for the benefits properly. Do you withhold the premiums and contributions before or after taxes? Can you choose to withhold however you want? Well, it depends on the benefit. So, you must understand the difference between pre-tax vs. post-tax deductions.
Read More What’s the Difference Between Pre-tax and Post-tax Deductions?How to Calculate Net Pay: Step-by-step Guide and Examples
Employee salary: $50,000 a year. But you know that’s not what they’re walking away with. Between taxes and benefit deductions, the employee’s take-home pay could be far from the $50,000 sticker price (cue the sad violin). Learn how to calculate net pay to find your employees’ take-home wages.
Read More How to Calculate Net Pay: Step-by-step Guide and ExamplesA Year-end Payroll Checklist to Finish the Year Strong
As the year comes to a close, you might be gung-ho about all the goals you want to achieve next year. But before you can get the ball rolling in the new year, you must wrap up some things in the current year—including your payroll.
Read More A Year-end Payroll Checklist to Finish the Year StrongWhat Are Post-tax Deductions from Payroll?
Payroll isn’t as easy as handing checks to employees for the amount of time they worked. You also need to subtract deductions from payroll. Deductions include taxes, pre-tax deductions, and post-tax deductions from payroll.
Read More What Are Post-tax Deductions from Payroll?New Employee Forms: What Do New Employees Need to Fill Out?
New employee forms are a staple of the onboarding process. Before an employee can legally begin working for your business, they need to fill out required forms. What forms do new employees need to fill out?
Read More New Employee Forms: What Do New Employees Need to Fill Out?The Employer’s Guide to Federal Income Tax Withholding
When you run a business, the word “taxes” might fill you with dread—especially if you have employees. You pay some employment taxes (e.g., unemployment), while others are taxes you deduct from your employees’ wages and pay on their behalf. One of the taxes you must withhold is federal income tax. So, what is it, and […]
Read More The Employer’s Guide to Federal Income Tax Withholding5 Signs It’s Time to Hire an Accountant
Accounting, taxes, and financial planning are tricky tasks to navigate, plain and simple. Thankfully, there are tools, like accounting software, you can use to streamline your responsibilities. But at some point, you might decide to hire an accountant for their professional guidance.
Read More 5 Signs It’s Time to Hire an AccountantWhat Is Inventory?
Unless you own a service-based business, you likely have inventory. Knowing how much inventory you have is crucial for managing accurate small business accounting books, ordering new stock, and making pricing decisions. So, what is inventory?
Read More What Is Inventory?