One of the many taxes that business owners are responsible for paying is FICA. But what is it? How is it used? Anyone who is not a sole proprietor, and who employs at least one employee must pay this tax. Below are some things you should know including how it should be calculated.
Payroll deductions are costs which are applied to the checks of employees every pay period. This means that the employee’s gross pay will always differ from the net pay, due to these deductions. Some deductions are mandatory while others are voluntary. While some deductions are levied by the state, others are federal. Below is a list of them.
Payroll taxes in California are distinct from other parts of the country. It is one of many costs which extend beyond employee wages, and employers must know how to compute them, as well as what to contribute, withhold and the proper filing procedures. Below are the most important things you should know.
The U.S. is comprised of 50 states which each have its own rules and local employment regulations, some of which can differ widely from one area to another. Therefore, companies new to a jurisdiction or which plan to expand into another state must ensure they are compliant with the local employment laws. Below are some tips for doing this.
Employee benefits are constantly improving, so it is important for employers to keep abreast of the changes that are occurring in their respective industries. This will ensure that they will continue to attract and retain the top talent. Here is a list of the top benefits for 2017.
As insurance premiums and medical costs continue to increase, business owners are looking for new methods to lower their insurance related expenses. One common way of achieving this is by raising health plan deductibles. However, transferring the cost to workers can be problematic to employers, especially when it comes to hiring the top talent. Therefore, another option for dealing with rising deductibles is to package a medical plan which is high deductible with a HRA and HSA. Each can be used to fill the gap for a low and high deductible while simultaneously lowering insurance premiums.
Both the workplace and market are in a constant state of flux, requiring managers to overcome multiple challenges while striving to stay competitive. They depend heavily on human resources, and below are some tips that will help managers capitalize on HR in a manner that will maximize their efforts.
It is critical for those running a business to keep their business credit and personal credit separate. While this isn’t much of a problem for medium to large businesses, it is a common mistake made by small businesses. Below are some tips for making sure the two types of credit are kept separated.
Many employers have questions about payroll records and how long they should be kept. The Internal Revenue Service has its own list of requirements, which you need to know. Here’s the answers to the titular question, as well as other noteworthy payroll record related questions.
When employees become injured or ill, or they’re expecting a child, they may decide to take time off work. This leave of absence can be confusing for both them and their employer. The reason for this is because there are different types of off time, two of which are FMLA leave and short term disability leave. Understanding the two types, as well as when employees can use it, is essential.