June 2016 Archives

How To Cope With A Minimum Wage Increase For Small Businesses

actions small businesses should take regarding minimum wage increase

Jun 30th, 2016 by TRAXPayroll

A number of states throughout the U.S. are increasing their minimum wages, requiring employers to change the hourly wages they pay their employees. California has raised its minimum wage to $15 an hour, and New York has followed suit. These changes will adversely affect many small businesses, which will need to adjust to the pay increase in order to remain profitable. Below are some ways in which this can be accomplished.

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Withholding Tax Information On Tip Income

your employees' tips are subjected to withholding tax

Jun 28th, 2016 by TRAXPayroll

Are you running a restaurant business where your employees stand to be remunerated partially via tips? The tips which employees earn are subject to withholding tax, which means that employers should report them. Below are some guidelines and procedures for doing this.

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Strategies For Getting The Most Out Of Internships

employing an effective internship system

Jun 23rd, 2016 by TRAXPayroll

A growing number of employers are recognizing the benefits of internships and have begun to utilize them. An effective internship system is a great way to recruit great talent while increasing the size of your team. Below are some strategies that will allow you to maximize the effectiveness of your recruiting program.

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Tips For First-Time Payroll Software Users

the type of data first-time payroll software users should collect first

Jun 21st, 2016 by TRAXPayroll

Altering the way you do payroll can be a daunting task. You must know where to store your tax ID numbers and you will also need to know how to transfer the payroll data. Below are a number of tips that can help first-time payroll software users change the way they do payroll in a manner which is headache free.

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Choosing Between Payroll Software And Payroll Service

choice between payroll software or service

Jun 16th, 2016 by TRAXPayroll

Payroll is a process that takes time, energy and resources to do well. Deductions and earnings must be managed, as well as the number of hours worked, and this doesn’t include taxation, which can make the process even more complex. It is for this reason that a growing number of business owners are turning to digital and automated solutions in order to streamline the process, which saves money and time. Choosing the right payroll software can bring tremendous advantages to your organization.

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Will You Need To Face An IRS Audit?

being audited by the IRS

Jun 14th, 2016 by TRAXPayroll

The chances of being audited by the IRS depend on a variety of different factors. Many business owners will go an entire lifetime without receiving a single audit, while others will face them every few years. Statistically speaking, 99 percent of returns will not be audited, which means that your chances of receiving one is a little like winning the lottery, unfortunately without the benefits that entail. Here are a number of factors that will substantially increase your chances of audited:

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5 Payroll Tax Problems To Avoid

payroll tax problems that must be avoided

Jun 9th, 2016 by TRAXPayroll

Tax issues are an inevitable aspect of being a business owner, and you will encounter them sooner or later. The IRS doesn’t take taxation lightly, especially when it comes to payroll tax. The question is not whether you will encounter tax problems at some points as a business owner, but how you will respond to them when they appear. Like many things in life, prevention is the key to success. Find out more about key tax problems you should avoid:

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What Is SaaS & Why Should HR and Payroll Departments Use This Model?

importance of customer support with SaaS payroll

Jun 7th, 2016 by TRAXPayroll

While many people have seen or heard of the term ‘SaaS payroll‘, some don’t understand exactly what it entails. Cloud computing is relatively new and is steadily gaining acceptance worldwide, and the key to greater adoption is a better understanding of how it works and the advantages it brings to those in the payroll and human resources departments.

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Affordable Care Act: 2017 Changes On Marketplace Coverage

changes to marketplace coverage for affordable care act 2017

Jun 2nd, 2016 by TRAXPayroll

The Obama administration has made a number of recent changes to the Affordable Care Act which is meant to deal with some of the challenges which are associated with it. A number of people have had difficulty interpreting the networks, coverage and fees which pertain to ACA, and this has made it difficult for them to make informed decisions. Get to know three major adjustments which will go into effect in 2017:

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