November 2015 Archives

Preparing For A Minimum Wage Increase

prepare for minimum wage increase

Nov 26th, 2015 by TRAXPayroll

A number of cities and states throughout the U.S. have begun passing laws to increase the minimum wage. While these wage increases are seen as being beneficial for employees, numerous small to medium sized businesses are apprehensive about this reform and its impact on company revenue. The good news is that businesses can take measures to manage increasing payroll costs while also remaining competitive. Below are some tips for achieving this:

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Are You Eligible For A Section 105 Plan?

section 105 plan

Nov 24th, 2015 by TRAXPayroll

Some small businesses strive to offer the best health benefit plans to retain or recruit the best employees possible. However, there is a slight problem and it is that traditional health insurance plans provided by employers are too costly. As a result, only more than 50% of small and medium businesses offer some forms of health insurance today.

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Why We Love Paperless Payroll

paperless payroll processing

Nov 19th, 2015 by TRAXPayroll

Today, the word ‘paperless’ will be the perfect word to describe how businesses are changing. Thanks to the continual acceptance and growth of cloud-based computing, an increasing number of businesses are reducing their dependence on paper usage and instead going with the reliable, organizational benefits of cloud-based business solutions. Along with cloud-based storage resources such as Dropbox and Google Drive, payroll processing is now one of the most common business practices to go paperless and it is not hard to understand why.

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Do You Know How Annual Bonuses Are Taxed?

annual bonus taxation

Nov 17th, 2015 by TRAXPayroll

No one can deny that they love receiving their annual bonuses. However, not all of them really understand how these annual bonuses are associated with tax deductions, tax returns or even what is considered as a bonus by the Internal Revenue Service (IRS for short).

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Tips On Managing Toxic Employees

toxic employees

Nov 12th, 2015 by TRAXPayroll

Almost everyone in the office knows what a toxic colleague looks like. These individuals can bring the whole team down by being negative, lazy, vindictive, gossipy and more. When such employees achieve managerial positions, they can easily increase the staff turnover rate because their subordinates do not respect them as leaders or find it hard to work under them. It is pertinent that you come up with a plan before approaching a toxic employee so they do not influence the rest of your staff in a negative way. Here are a few tips to deal with toxic employees:

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Why You Should Hire Remote Workers

hiring remote workers

Nov 5th, 2015 by TRAXPayroll

Many business owners ask themselves whether they should hire remote workers or even give their current employees the choice to work from wherever they want. While many of them may not favor the idea of hiring remote workers because they feel that it can be a form of managerial oversight, research shows that hiring such workers have many benefits that outweigh the negatives. Here are some of the key benefits on why you should hire remote workers.

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ACA Reporting: Important 2015 – 2016 Dates For Large Employers

ACA reporting important dates for 2015 to 2016

Nov 3rd, 2015 by TRAXPayroll

Employers that have at least 50 full time employees working for them throughout 2015 must be sure they have their plans set in place to achieve Affordable Care Act (ACA) compliance.

Forms must be given to employees before February 1, 2016, and the IRS must receive them by February 29th, 2016 (for paper filing) and March 31st, 2016 (for electronic filing). Employers that have less than 50 employees who work full time are only required to be ACA compliant if they are self-insured, otherwise they are exempted.

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