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A Smart Approach To Tackling Salary Increases

salary increases

Jun 14th, 2018 by TRAXPayroll

Today in the corporate world, most employees will expect employee benefits and salary increases over time. The wages they are paid should ideally be in line with inflation, and is a way of rewarding them for good work. However, figuring out the proper amount can be tricky. An employer should take into consideration their morale, schedule market averages, and their performance.

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Getting To Know Level Funded Health Plans

level funded health plans

Jun 7th, 2018 by TRAXPayroll

Establishing employee health coverage has become an essential part of operating a business, large or small. However, smaller enterprises have had a more challenging time acquiring sufficient coverage since the passing of the Affordable Care Act. One solution that has been devised is level funded health plans. Below is a description of how it works, and the advantages companies can gain by using it.

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Is Your Employee’s Health Insurance Taxable?

employee's health insurance

May 28th, 2018 by TRAXPayroll

A number of small businesses owners want to know if it’s possible to reimburse the individual health insurance of their employees, rather than providing a standard group policy. Additionally, they want to know if such an arrangement is taxable.

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Building An Awesome Company Culture

company culture

May 20th, 2018 by TRAXPayroll

How does company culture work, and why is it needed? The term involves key factors, such as leadership and the behavior of employees, but also includes systems, habits, beliefs, language, values and vision. Every successful small business has developed their own culture, and below are some ways to establish it within your enterprise.

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How Is Severance Pay Determined?

severance pay

May 11th, 2018 by TRAXPayroll

No legal mandate currently requires companies to offer severance pay to their employees. However, many businesses will provide it in the event that an employee terminates. In most cases the amount will depend on the length of time in which they’ve been with the company. Some companies will give a week’s worth of pay for each year someone has been employed, or a flat rate which is the equivalent of six work weeks. The severance may be split into separate payments or given all at once.

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What Businesses Should Know About The New Tax Rules In The United States

new tax rules in the United States

May 4th, 2018 by TRAXPayroll

Many small business owners are coming to terms with the new tax reform 2018 bill. It has made drastic changes to income taxes associated with individuals and businesses, and below are the most important new tax rules that business owners should be aware of this year.

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When Do You Need HR Consulting?

HR consulting

Apr 29th, 2018 by TRAXPayroll

While HR consulting will benefit most companies, there are a number of indications that an institution seriously needs it. This consultation can go a long way to make your HR department and operations more effective.

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Are You Struggling With Employee Scheduling?

employee scheduling

Apr 20th, 2018 by TRAXPayroll

While employee scheduling is simple when you’re dealing with a handful of employees, it can become more challenging as your business grows in size. Industries such as hospitality, retail, manufacturing and healthcare in particular are notorious for work days which are multi-shift, which can create challenges as staff availability and skills must be balanced with peaks in production or services, while keeping labor costs under control. Below are some reasons why automated scheduling will help you establish schedules which are both compliant and cost effective.

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Don’t Make Common Payroll Errors This Year

common payroll errors

Apr 12th, 2018 by TRAXPayroll

While mistakes will occur from time to time, one area where it should be minimized most is payroll. Small businesses especially are susceptible to errors since they lack the personnel and resources of their larger counterparts, making it challenging for them to keep up with constantly changing regulations. The worst thing about these errors is that even if they are not intentional, if not quickly resolved they can land you in hot water with the Internal Revenue Service. Below are three common payroll errors to watch for this year.

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The Massachusetts Pregnant Workers Fairness Act Takes Effect In April

Massachusetts Pregnant Workers Fairness Act

Apr 3rd, 2018 by TRAXPayroll

The Pregnant Workers Fairness Act has gone into effect starting April 1st. This law basically states that employers within the state of Massachusetts will not be able to deny females or recent mothers proper accommodations, even in cases where her pregnancy or condition isn’t considered a disability within current federal and state discrimination laws.

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