Abel HR

APRIL 30, 2020

If you’ve ever run your own payroll, you know what a huge undertaking it is. Indeed, these so-called payroll liabilities are defined as any type of payment owed as a result of running payroll. Again, because of that lull between earning time and deposit time to any third parties, it is counted as a liability.

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Zenefits

SEPTEMBER 4, 2018

Today marks the start of National Payroll Week! To do our best to honor one of our favorite topics around, we want to dedicate this week to answering common payroll questions. To kick us off– have you ever wondered how the payroll taxes you deduct and match from employee’s salaries are allocated? What does it fund?

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Zenefits

APRIL 20, 2017

In my previous blogs, we discussed how to calculate federal income tax. Some other big amounts that come out of our paychecks are for Social Security and Medicare taxes. How are Social Security taxes calculated in payroll ? What wages are taxed for Social Security and Medicare? in taxes.

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Zenefits

MARCH 11, 2019

If you have at least one employee on your payroll, you’re responsible for paying employer payroll tax on a yearly basis. This might at first seem like a basic part of being an employer; however, these tax forms must be completed with a high level of accuracy. What payroll taxes are employers required to pay?

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Zenefits

JULY 20, 2018

Taxes can take a generous portion of a person’s earnings, and federal payroll tax can be difficult to figure out. The Federal Insurance Contributions Act, or FICA, is a federal law that requires three different taxes to be withheld from wages. Currently, FICA taxes include a 6.2 percent tax for Social Security, 1.45

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Payroll Hiring Software QuickBooks Zenefits 28

Tandem HR

DECEMBER 9, 2021

Healthcare FSAs enable employees to set aside money from each paycheck before the deduction of taxes. Dependent Care FSAs are a pre-tax benefit account used to pay for eligible dependent care services. Dependent Care FSAs are a pre-tax benefit account used to pay for eligible dependent care services. Lower taxes.

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Zenefits

MAY 17, 2018

Employer payroll taxes are no exception. This can feel particularly true when it comes to understanding employer payroll taxes. For small businesses and other leaders, payroll is no exception. Taxes will always be on the to-do list. Consider this a 101 on Federal employment taxes.

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Zenefits

MAY 30, 2018

Misclassifying an employee as a contractor can result in significant tax penalties, you don’t want to be on the wrong side of the IRS’s definition. The simplest definition is that an employer needs to withhold payroll taxes such as income taxes, Medicare and Social Security for an employee, but not for an independent contractor.

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Helpside

APRIL 5, 2022

This blog was written by Florencia Ramos, Senior Payroll Specialist at Helpside. Employers must report and withhold the appropriate taxes such as income, social security, and Medicare taxes. Employees can receive additional benefits such as vacation/sick pay, health insurance, pension plans, etc.

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Hiring Software Employment Law Onboarding Software Planning Tools 59

BerniePortal

MARCH 5, 2020

*This blog is adapted from the HR Party of One episode, Tips for Employer Taxes, which you can view below. Tax season is among us - so today, we’re covering what HR Parties of One need to know. Paying employer contributions for FICA taxes. Paying other employer business taxes. The History of Employer Taxes.

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Hiring Software Onboarding Software HR Software Planning Tools 52

UKG

SEPTEMBER 11, 2023

To kick it off, let’s take a look at a few reports that will help you stay on top of your employee data as you prepare to dive into your payroll year-end processes. The report provides visibility into variances across the different payroll components within categories and subcategories.

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Extensis

JULY 12, 2022

It’s a flexible savings account specifically set up by an individual to pay pre-taxed medical expenses. Employers save 7.65% on federal payroll taxes on employees who contribute pre-tax payroll deductions to their HSAs. An HSA presents significant cost-saving benefits for both employers and employees. Yes and no.

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Retirement Payroll Compensation Wellness 88

Helpside

MAY 3, 2022

This blog was written by Shelly Lampkin, Payroll Specialist at Helpside. And this means that you don’t have to worry about taxes for them, right? Although they may not be employees under common law, some workers are defined as employees for the purposes of employment taxes under the Internal Revenue Code. Not so fast.

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Wage and Hour Training Guidelines Payroll Recruitment 52

Zenefits

MARCH 12, 2018

Personal taxes are intimidating. The rules are unnecessarily complex, difficult to understand, and many of them will change before you file your next round of taxes in 2019. This form is required by your employers to document your annual wages and taxes from your paychecks. Equals: Federal Income Tax wages.

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Zenefits

OCTOBER 29, 2018

There is no more essential task for an employer than payroll. Payroll can also be one of the most intimidating employer tasks. How do you withhold taxes, Medicare, and social security? Let’s take a closer look at payroll accounting and manual record keeping. What are the advantages of recording payroll by hand?

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Payroll Hiring Software Planning Tools Software 31

DailyPay

SEPTEMBER 25, 2017

Payroll is a big deal. These don’t include mandatory liabilities like Social Security and Medicare taxes, federal and state unemployment insurance or additional taxes state and local governments may require. If you’re not careful, payroll mistakes can cut into small business’s revenue even more. Commissions.

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Zenefits

MAY 11, 2017

Previously, we reviewed how federal income taxes were calculated. State income taxes, with a few exceptions, are calculated very similarly to federal income taxes. But there are some states that have no state income tax at all. Which States Don’t Have State Income Tax? South Dakota. Washington.

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Extensis

MARCH 9, 2023

Non-compliance may result in hefty implications regarding tax and wage liabilities, including uncollected social security and Medicare taxes, as well as unexpected expenses to cover liability for unpaid employee benefits and owed wages. A PEO provides comprehensive HR capabilities and support to SMB employers.

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Celergo

MAY 31, 2018

In this installment, we will learn about expatriate tax implications. In many cases, an expatriate will have both home and host country tax liabilities while on an international assignment. Expatriate Tax – Hypothetical Taxes and Exemptions. Expatriate Tax – Hypothetical Taxes and Exemptions.

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Zenefits

JULY 10, 2017

In my recent posts , we’ve discussed how payroll taxes are calculated across many different areas; state income taxes, social security and medicare taxes, federal income tax withholding and more. Less: Section 125 deductions (medical, dental, vision, dependent care, pre-tax commuter benefits, etc.)

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Tandem HR

JANUARY 19, 2018

Employees will be searching for their W-2 to prepare for 2017 tax returns. Employees are issued three copies to process their tax returns for that year and to keep for their records. Any employee who has taxable wages paid in the tax year. If taxes are under- or over-withheld, it may be due to your elections.

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Zenefits

SEPTEMBER 25, 2018

With many employers offering automatic payroll deposit , fewer workers receive “live” paychecks and instead have electronic access to their pay records. But all paystubs contain must-have entries, such as “gross wages,” “net wages” and “federal income tax” subtractions and abbreviations for time used. Federal income tax.

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Planning Tools Payroll Zenefits Retirement 34

UKG

OCTOBER 18, 2023

5 Basic Steps in Processing Payroll (Plus, Helpful Tips) heather.vanhou… Wed, 10/18/2023 - 11:42 Main Image Background Color Magenta Body Paying your people accurately and on time is one of the most important functions of your business, so it’s critical to have a smooth process in place. These will be needed later to calculate payroll.

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Payroll HR Software Wage and Hour Training Background screening 126

Zenefits

APRIL 25, 2019

If you work for yourself or have your own business, you are probably all too familiar with the headache that is filing your business taxes. Fortunately, if you have a plan in place, you can easily file your self-employment tax 2019 and predict what you’ll have to pay. What is the Self-Employment Tax?

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Celergo

MAY 23, 2018

Expatriates on long-term assignments are often eligible for certain benefits and incur additional deductions. The expatriate will hold a work visa and often will have additional benefits and deductions to their pay. In many cases, an expatriate will have both home and host country tax liabilities while on an international assignment.

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Zenefits

NOVEMBER 21, 2018

When an employee accepts a new job offer, the negotiated salary is typically a figure determined before tax, which is known as the gross pay. The first paycheck received includes the net pay amount after tax. Gross wages equal the amount before tax whereas net pay is the sum after tax. in FICA tax.

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Zenefits

JANUARY 23, 2019

All tips are required to be reported on a tax return, which includes cash tips. The penalty amounts to half of the Social Security and Medicare tax that would have been due if the tips had been reported,” states the IRS. How are cash tips taxed? Cash tips are subject to Federal income taxes just like non-cash tips.

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Zenefits

OCTOBER 11, 2018

Tax time is enjoyed by very few. There’s a lot to learn—everything from payroll taxes to specific tax forms —and it can seem overwhelming. That’s why we’re breaking down the types of tax and IRS forms. That’s why we’re breaking down the types of tax and IRS forms.

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Zenefits

MAY 21, 2018

While tax forms and laws continue to evolve, the W2 form is one piece of the process that has stayed relatively consistent. The IRS has designated specific codes for these transactions and are defined as follows: A — Uncollected Social Security or Railroad Tax Act (RRTA) tax on tips. J — Nontaxable sick pay.

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Zenefits

DECEMBER 4, 2018

Will it affect your or your employees’ taxes? A performance-based bonus is a type of additional compensation that you pay to an employee as a reward for achieving predetermined goals or targets. percent of payroll, as a bonus on top of base salary. How Are Holiday Bonuses Taxed? Federal income tax. percent tax.

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Extensis

SEPTEMBER 2, 2022

Quick look: It’s National Payroll Week – an important time to honor the work that payroll professionals do to keep the country operating smoothly! Here we explore the importance of payroll, how a PEO’s payroll experts impact SMBs across the country, and all the other ways PEOs help businesses, too. trillion per year!

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Extensis

MARCH 23, 2023

Unfortunately, a missed payroll comes at a much higher cost than simply workforce disruption. Here’s a glimpse of what employers may face when payroll is missed and why having a PEO partner is a strategic business move. Regardless of the circumstances, employers are legally required to pay their employees on time.

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Payroll HR Software Planning Tools Assessment Software 71

Extensis

OCTOBER 27, 2022

The spending is focused primarily on the government subsidy expansion for those part of Affordable Care Act (ACA) individual plans, as well as other provisions which support greater health insurance coverage and Medicare prescription drug cost regulations. Additionally, the IRA preserves ACA plan tax credits by extending them through 2025.

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Planning Tools HR Software Recruiting Software Diversity 92

Zenefits

JUNE 18, 2018

For business, payroll taxes are a constant , regardless of how your revenue ebbs and flows. Businesses must submit payments for withholding taxes either monthly or semi-monthly, depending on the size of the liability. Form 941: Quarterly Tax Report. Total taxes withheld from employees. Any taxes still owed.

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UKG

JUNE 3, 2021

In Part I of this blog , published last week, we began reviewing the ARPA COBRA subsidy guidance offered by DOL/IRS in Internal Revenue Notice 2020-31 (contained in IR News Release 2021-115 ). The employer, plan or issuer may retain the tax credit they received to offset the subsidy, but has no right to the penalty payment.

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Affinity HR Group

MARCH 29, 2020

Payroll Protection Loans : The CARES Act establishes emergency grants and a loan program for employers with fewer than 500 employees. times their average monthly payroll, health insurance, rent, and utilities, up to a total of $10 million, to keep their business afloat. Health Insurance. Rent or Mortgage Interest.

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Analysis Payroll Groups Compensation 64

Affinity HR Group

MARCH 22, 2021

Extends the voluntary EPSL and offsetting federal tax credits through September 30, 2021. . Extends the voluntary EPFL and offsetting federal tax credits through September 30 2021. . Any employer that favors certain employees such as full-time or highly-compensated employees may jeopardize their chance to get offsetting tax credits. .

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