The article discusses how to make your payroll staff more accountable. Establishment of high expectations and challenges, not complacency and coddling; Confrontation and conflict, not agreement and harmony; Manifestation of whole life integration and not compartmentalization....
Consider setting up an Electronic Federal Tax Payment System (EFTPS), a free tool by the US Department of Treasury to help secure tax payments. The EFTPS allows you to make different types of payments, including estimated taxes, corporate taxes, self-employment taxes, payroll taxes, and excise ...
You want to make sure all your employees are paid correctly and on time. It's one of your major responsibilities as a small-business owner. If you have a small team, doing your own payroll can save money. Handling payroll management yourself isn't easy but can save you the cost of hir...
Setting up payroll is one of the most important tasks employers have on their plate. Payroll is how you make sure your employees get paid—accurately and on time—which directly impacts their satisfaction and your company's overall performance. For small businesses, handling payroll internally can ...
Payroll processing is the process it takes to deliver a final paycheque. The thing with payroll processing is that there’s more than one way to go about it. With different methods and software available, it can be overwhelming to make the right choice. Luckily we’ve created a complete gu...
Of course, not all payroll software programs are built equally. Some payroll software won’t submit electronic forms to the IRS, for example, which means you’ll need to do that on your own quarterly, monthly, or annually. Not all software will even calculate local tax, which means you co...
After entering payroll information, payroll software handles the calculations for you. However, you need to make sure you input the information correctly. Because payroll software computes the payroll taxes for you, it helps you save time running payroll. If you’re interested in software, learnho...
As we’ve seen, when you manually calculate payroll for your employees, you’ll need to pay attention to the legal calculation requirements, as well as noting the information that you must include in your employees payslip. The basic steps are set out below, but make sure you get advice if...
With a traditional corporate 401(k), you make investments as a pretaxpayroll deductionfrom your paycheck, and your employer has the option ofmatching those contributionsup to certain amounts. You get a tax break for your contribution, and the employer gets atax breakfor its match. With a one...
Federal and state taxes:Your total will depend on where you live and how much you make. FICA (Social Security and Medicare):6.2% of your salary for Social Security; 1.45% for Medicare Health insurance:Most employers ask you to contribute something towards your health insurance. For example, ...