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Types of Wages That Might Come up in Your Small Business

Patriot Software

direct deposit vs. paper checks), but you also need to consider the types of wages you will provide. There are also mandatory wages, such as overtime. Read on to learn about the types of salaries and wages you may need to pay employees. Types of wages. Regular wages. Salary wages. Hourly wages.

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Calculating Overtime When Your Employee Works a Fluctuating Workweek

Patriot Software

Read on to learn more about a fluctuating workweek, restrictions, calculations, and how to implement it in your business. An employee who works a fluctuating workweek has a different amount of work hours from week to week. For example, the employee would earn the same weekly salary whether they worked 35 or 40 hours.

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Form 943: What to Know About Agricultural Withholding

Patriot Software

Various types of employers must withhold taxes from employees’ wages, including employers hiring farm workers. And, you are responsible for reporting wages on IRS Form 943. You must file Form 943 if you withheld taxes from one or more farm workers’ wages. employee wages and taxes withheld). So, what is Form 943?

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The Pros and Cons of Hiring Seasonal Employees for Your Small Business

Patriot Software

When hiring seasonal help, seasonal employers may offer lower pay rates, as long as they meet minimum wage requirements and follow seasonal employment laws. And because seasonal workers are typically part-time employees , they may not work enough hours to receive overtime pay , cutting down on additional payroll costs. Less training.

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Neglecting the Nanny Tax Won’t Help the Medicine Go Down

Patriot Software

Read on to learn about the nanny tax, how to legally hire a household worker, and your depositing and filing responsibilities. You do not have to withhold or pay Social Security, Medicare, or FUTA taxes if you pay wages to your spouse, child who is under the age of 21, or parent. What is the nanny tax? You must withhold 6.2%

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Is Your Employee Asking for a Raise? Here’s What to Do

Patriot Software

At some point, your employee may ask for a higher salary or hourly wage. According to one report , 37% of workers have asked for a wage increase from their current employer. Chances are, your employees may ask you for a wage bump, too. What do you do when an employee is asking for a raise? Again, wait to respond to the employee.

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The Best Payroll Software For Small Businesses

TrustRadius HR

The average small business owner spends nearly five hours per pay-period processing payroll (Try saying that five times fast). If you want to save time and get payroll right every time, check out these payroll software solutions for small businesses. Payroll software’s main selling points are time savings, accuracy, and compliance.