The Treasury Department and the IRS have issued Notice 2021-53, which provides guidance to employers about using Form W-2 to report the amount of qualified sick and family leave wages paid to employees for leave taken in 2021. This is welcome news for many taxpayers, as this guidance covers the Families First Coronavirus Response Act as … Read more
Regardless of whether your first payroll involves a few employees or many, the goal is to execute payroll in an accurate and compliant manner. Here are some steps to help you manage your first payroll. Get an EIN and perform the necessary state registrations. Obtain an Employer Identification Number from the Internal Revenue Service. If required, … Read more
In COVID Tax Tip 2021-123, the IRS clarifies some of the confusion surrounding the powerful but complex Employee Retention Credit. The IRS is addressing changes made by the American Rescue Plan Act of 2021 that apply to the third and fourth quarters of 2021. These changes include: Making the credit available to eligible employers that pay … Read more
COVID-19 and its variants continue to disrupt the way we live, work and play. The population disagrees on whether to wear masks or be vaccinated, and businesses struggle to attract workers. At the same time, we all are trying to move toward a new definition of normal. Some clear guidance One of the most pressing … Read more
It is not uncommon for a new hire to pose the question: Do you get paid for orientation? Orientation formally introduces the new hire to the company — including its mission, culture, values, vision, policies, procedures, and fringe benefits. Training equips the new hire with the knowledge he or she needs to perform the job … Read more
An employee who resigns with two weeks’ notice may think they are doing you a favor. But in fact, it can be a payroll headache, especially if you listen to some of the misinformation you may have heard about two-week notices. For example, you may have heard a rumor that you don’t need to pay … Read more
Even if your business has only a few employees, you may be considering outsourcing your payroll processing to a specialist. What can a payroll processing service do for you? It can help keep you compliant. You may have employees in more than one state and need to comply with reporting, withholding, and paying state and … Read more
“Going back to the office” takes on new meaning after more than a year of working from home. Some people are excited to get back to “normal” as quickly as possible, others do not want to go back to the old status quo, and still others are seeking a happy medium. Businesses are left scrambling … Read more
Employer-based health insurance costs have increased modestly since 2012 — between 3% and 5% annually for family coverage, according to a 2020 report by Kaiser Family Foundation. These changes have added up over the past decade, and employers and employees are now paying 155% of the health care costs they were paying before, even as … Read more
These days, many employees at companies large and small to sign an agreement when they’re onboarded. It says that they’re not allowed to work for a competing company, or to start a competing company, for a certain number of years after they part ways with their current employer. Once a rare practice restricted to specialized … Read more
