Is This Your Situation: You Want a Paperless Payroll

paperless payroll

Paperless payroll is a paper-free payroll process that has become hugely popular in recent years. But despite the groundswell of support for paperless payroll solutions, employers should examine the details before making the switch.  Six pros of paperless payroll What to watch out for Although paperless payroll is here to stay, it’s not without problems. … Read more

Is This Your Situation: You’re Spending Too Much on Bookkeeping

Unemployment and Tax: Back to Normal

Wondering what your options are to reduce spending and increase income? Here are some tips: Organizing your finances is the foundation for financial success. Receipts scattered? Can’t keep up with payments that are due? Missed payments result in late fees and interest charges, and all those do are increase the overall amount to be paid … Read more

Is This Your Situation: Feeling Overwhelmed by Payroll

Payroll and salaries

Do you ever wish you didn’t have to go through the hassle of preparing a payroll? Maybe it was simple when you just had one or two employees, but your company is growing and it’s becoming more complex. Some companies have a dedicated payroll manager—but that can be expensive. Other businesses have found find it … Read more

Unemployment and Tax: Back to Normal

Unemployment and Tax: Back to Normal

Unemployment income has always been taxable income. Those who apply for unemployment benefits can have federal tax, and any applicable state tax, withheld, but whether it’s done check by check or in a lump sum, the recipient has to pay. However, because 2020 was such a difficult year, the federal government granted a limited break. … Read more

Payroll Tax Rates And Contribution Limits For 2022

Payroll Solutions - BlueStone Services LLC

Below are federal payroll tax rates and benefits contribution limits for 2022. Social Security tax In 2022, the Social Security tax rate is 6.2% for employers and employees, unchanged from 2021. The Social Security wage base is $147,000 for employers and employees, increasing from $142,800 in 2021. Self-employed people must pay 12.4% on the first $147,000. Medicare tax … Read more

Is 401(K) Auto Enrollment Right For Your Company?

401K Retirement - BlueStone LLC

Traditionally, employees have to opt into retirement plans and make their own decisions about contributions. But there’s another possibility: automatic enrollment in a 401(K). If they choose to enroll their staff automatically, companies have three options: Basic 401(K) auto enrollment, also called an “Automatic Contribution Arrangement” (ACA) Employees are automatically enrolled in the 401(k) plan … Read more

IRS Announces Standard Mileage Rates For 2022

Human Resources - BlueStone LLC

The IRS has issued the 2022 optional standard mileage rates used to calculate the deductible costs of operating an automobile for business, charitable, medical or moving purposes. Beginning on Jan. 1, 2022, the IRS standard mileage rates for the use of a car (also vans, pickups or panel trucks) will be 58.5 cents per mile … Read more

IRS Announces 2022 Limits for Retirement Plans

Retirement Plan - BlueStone LLC

The IRS has announced the new retirement plan numbers for 2022. Retirement limits for 401(k) and similar plans are up. The contribution limit for employees who participate in 401(k), 403(b), most 457 plans, and the federal government’s Thrift Savings Plan is increased to $20,500, up from $19,500. IRA limits have changed for certain savers. If during the … Read more

On-Demand Pay: A Growing Payroll Trend

Payroll - BlueStone LLC

A 2020 report by Ernst & Young says on-demand pay is “the term used to describe a category of financial products that give employees the ability to draw on their accrued wages before payday.”  The Case for On-Demand Pay In 2017, CareerBuilder reported that a staggering 78% of U.S. workers live paycheck to paycheck. Since … Read more

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