If your employees receive tips, it is important to remember that tip income is taxable. Employees must report all tips they receive, and you must withhold payroll taxes on tips.
Read More How to Withhold Taxes on Tips
October 14, 2022
Payroll Articles
Payroll Tips, Training, and News
October 14, 2022
Is There Such a Thing as Self-employed Unemployment?
No small business owner wants to think about their company going under. But, planning ahead can help you prepare for the worst possible scenario—unemployment. Millions of people claim unemployment benefits each year in the United States. You might wonder if you can receive these benefits as a business owner. You must understand the rules on […]
Read More Is There Such a Thing as Self-employed Unemployment?
October 14, 2022
Are Reimbursements Taxable? Guidance on Employee Expense Reimbursement Plans
Sometimes, an employee might pay for a business expense out of their own pocket. When that happens, you can reimburse the employee. An employee expense reimbursement does come with some complications. Are reimbursements taxable? Do you need to report the reimbursement? Find out below.
Read More Are Reimbursements Taxable? Guidance on Employee Expense Reimbursement Plans
October 14, 2022
The Payroll Compliance Checklist You Need to Use
Payroll compliance isn’t a once-per-year task you can easily check off. Remaining compliant is a big job. You must make sure your business is compliant with all payroll laws year-round. You can make payroll compliance easier and less stressful by doing tasks throughout the year. In fact, there are some tasks, like filing taxes, that […]
Read More The Payroll Compliance Checklist You Need to Use
October 14, 2022
What Is Form 8655?
When signing up for payroll services that include tax filing, you’ll be asked to fill out Form 8655. The company won’t be able to file or deposit your taxes until you submit the form. So, what is IRS Form 8655 used for? Find out below.
Read More What Is Form 8655?
October 14, 2022
Do I Need to File Form 8027?
In some industries, employees earn the bulk of their wages from tip income rather than hourly or salary pay. If you own a food or beverage establishment, your employees likely earn tips. Like regular pay, you still need to withhold taxes on tip income. And, you need to report tip earnings on Form 8027.
Read More Do I Need to File Form 8027?
October 13, 2022
A Breakdown of the Colorado Occupational Privilege Taxes
A handful of cities in Colorado have a local tax called an occupational privilege tax. Both employees and employers owe it. If you’re an employer in Colorado, it’s important to know if you owe the occupational privilege tax and what your city requirements are.
Read More A Breakdown of the Colorado Occupational Privilege Taxes
October 13, 2022
A Look at Deferred Compensation Plans
For many employees, generous benefits are more important than pay raises. There are several benefits options you can offer to attract and retain employees, including deferred compensation plans.
Read More A Look at Deferred Compensation Plans
October 13, 2022
Calculating Weighted Overtime for an Employee With Multiple Pay Rates
Do you have an employee who has two or more positions in your business with different pay rates? Does that employee work overtime? If the answers to these questions are yes, you need to know about weighted overtime. Weighted overtime is common in small businesses that pay multiple pay rates to an employee. Learn what […]
Read More Calculating Weighted Overtime for an Employee With Multiple Pay Rates
October 13, 2022
What Is the ABC Test, and How Can Small Business Owners Comply?
The laws surrounding worker status have long been ambiguous. Deciding whether a worker is an employee or independent contractor has been largely left up to the employer’s discretion. Not anymore. Thanks to California’s 2018 court ruling, workers are now presumed to be employees.
Read More What Is the ABC Test, and How Can Small Business Owners Comply?