Direct deposit, pay cards best defense against fraud
It’s payday and the end of a shift at the quick-service restaurant. Employees begin filing out to their cars in the parking lot when one of them is approached by a man asking how much the employee got paid that week. The employee looks at his check and tells him he got paid $225. The […]
Updated Form W-4 and withholding calculator now available
The new version of Form W-4 and an updated withholding calculator to reflect the recent tax law are now available. The Tax Cuts and Jobs Act, which was signed into law in December, made major tax law changes for individuals, including changing tax rates and tax brackets. The IRS issued in January new withholding tables […]
New withholding tables reflecting tax reform now available
Many Americans can look forward to seeing an increase in their paychecks next month due to the new tax law, but first employers must update withholding information for employees. The IRS released recently the 2018 withholding tables – formally the 2018 Percentage Method Tables for Income Tax Withholding – and employers must begin using them […]
There is more than one way to pay your taxes
Just as more and more businesses accept electronic payment for purchases or bills, so too does the IRS. Of course, you can still pay your taxes each year or quarterly by check or money order, but you can also use other options such as: Direct pay through your checking or savings account. This service is […]
Some ACA deadlines extended for employers
Employers will have more time to comply with some Affordable Care Act reporting deadlines. As you know, employers who offer fully insured medical plans must file Forms 1094-C and 1095-C with the IRS by Feb. 28 for paper filers and April 2 for electronic filers. (Employers with 250 or more reports to file are required […]
Time to begin year-end payroll planning
Preparations are underway for numerous holiday events and outings, but for small business owners, other year-end activities take center stage. The following are some steps that must be taken by business owners who handle their payroll functions in-house: Have employees confirm their address and Social Security numbers. Use the Social Security Administration’s Social Security Number […]
Restaurant owners could soon face new scheduling laws
If recently passed legislation is any guide, employers in the restaurant industry across the country could be facing restrictive regulations on scheduling employees for work. The state of Oregon passed a statewide scheduling law this summer that many observers expect will become the template for other states to follow. The Oregon bill would impact the […]
School’s out for the summer, so let’s get to work
School is out for the summer, which is an ideal time for your children to earn a little money and gain some experience at the same time. Bringing them in to work for you is a good idea, but first, keep in mind the following when employing family members: Make sure the job is legitimate. Your […]
Final responsibility for payroll taxes lies with employer
Many of our clients contract with a payroll service provider to take care of payroll tax filing responsibilities. It is important to remember, though, that the ultimate responsibility for withholding income tax and both the employer and employee portions of Social Security and Medicare taxes lies with the business owner. While most payroll service providers […]
Get credit where credit is due
The federal government offers certain small business incentives for hiring at-risk employees in hopes of giving those workers a more solid footing in pursuing careers. One of those tax credits – the Work Opportunity Tax Credit – is aimed specifically at employees from the following targeted groups: Long-term family assistance recipients; Qualified recipient of Temporary […]