May 2018 Archives

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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