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 ...
While payroll has historically been the source of a lot of stress for restaurant owners, there are several tools and resources to make it easier. Payroll jargon and processes aren’t intrinsically complicated; they’re usually just presented in ways that are tougher to understand than necessary!
you pay regularly, it is a good time to make sure you are following all the rules. It's important to ensure that legally you are not treating contractors like employees. Otherwise, you'll need to fill out the necessary paperwork and withhold income and payroll taxes from their checks. ...
Payroll is a big expense for businesses, and while using a payroll solution costs money, it can cut down on the time required to handle all these steps. It also means your employees can receive their paychecks in various forms, including checks, direct deposits and payroll cards. ...
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...
Hiring your first employee? Learn how to process payroll in eight simple steps, such as gathering time card information and beyond.
Payroll checks are written on a weekly, biweekly, or monthly rotation for labor performed within any one of these periods of time. The total amount of a payroll check is the gross amount earned minus withholding of social security, medicare, and federal and state taxes. When a payroll check...
One way to limit payroll’s impact on your cash flow is to pay your people using direct deposit or digital pay options instead of paper checks. Because you don’t know when someone will cash a paycheck, it becomes more difficult to ensure you always have sufficient funds in your bank acco...
Starting a business is a pursuit that appeals to many, but not everyone knows where to start. This guide will walk you through the elements of starting a business and explain what you can expect as you embark on the journey.
1. ChecksPersonal checks are a simple and familiar way to pay your contractors. Just grab your checkbook, fill out the relevant information, and send it to the independent contractor—simple as that. While their simplicity makes checks a great option, it takes time for a physical check to ...