Should you be tracking salaried employees' work hours? Is it legal, and how do you go about it? Here’s everything you need to know.
The total number of hours a salaried employee may be expected to work is up to the employer’s discretion. However, it’s important to remember that non-exempt, salaried employees must be paid the applicable overtime rate for hours worked in excess of 40 per workweek. Even if the employees...
How to calculate gross final pay It isn’t often that an employee’s last day will fall exactly at the end of the month, so it’s likely that you’ll have to do a few sums to work out what they’re owed. Here’s how to calculate final pay for employees on different pay structure...
Time tracking sets benchmarks for tasks you typically do in your business. You can pinpoint your employees’ productivity and tie their performance to real-world results. Top tip: Example: If Employee A finishes a landing page in two hours while Employee B takes six, this could be a star...
If you’re a small business with only a few employees and choose to process payroll manually, you will need to keep precise records of hours worked, wages paid and worker classifications, among other details. You must also ensure your calculations are correct and remember to file all the nece...
Managers may find it hard to build trust and company morale among employees when external workers come and go. 7 steps to improve your freelance hiring process Despite the drawbacks listed above, freelancers are a useful part of the recruitment mix. You simply need to be smart about how you ...
Generally (but not always), salaried employees are considered exempt—while hourly workers are non-exempt. Non-exempt employees are protected under the Fair Labor Standards Act (FLSA) and entitled to overtime pay, while exempt employees are not. Payroll mistake #3: Processing payroll using the ...
Unpaid payroll tax penalties are levied on businesses when they fail to pay these taxes or don’t pay them promptly. You can incur these penalties when you fail to provide returns to employees, file Form 941 in a quarter, or remit taxes withheld from employee paychecks for Social Security ...
Ways to Estimate How Much Tax You’ll Owe If you’re a salaried employee with a steady job, it’s relatively easy to calculate yourtax liabilityfor the year. You can predict what your total income will be. However, millions of Americans aren't salaried employees. Other types of income in...
Furloughs apply differently tononexempt(hourly) andexempt(salaried) employees. Employers can legally impose furloughs on hourly employees but must cut their workloads to match the cut in hours, as nonexempt employees must be paid for every hour they work. On the other hand, exempt employees, who...