UPDATE: On June 28, 2024, a Texas court halted the new DOL overtime rule for Texas state employees. The DOL new overtime rule is in effect for all other employees, including private employees in Texas. Keep in mind that continued legal challenges could arise. Starting in July 2024, four million new workers will become entitled […]
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Payroll Tips, Training, and News
June 18, 2024
OASDI Tax: Old-Age, Survivors, and Disability Insurance (OASDI) Tax Deductions
Tax withholding is an essential piece of the payroll puzzle. One of the taxes you must withhold from employee wages is the Old-Age, Survivors, and Disability Insurance (OASDI) tax. You must also contribute an employer portion of the OASDI tax. OASDI tax is more commonly referred to as Social Security tax.
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June 17, 2024
What Is FICA Tax, and How Much Is It?
As an employer, you’re in charge of paying your employees … and handling those pesky employment taxes. One of the taxes you need to calculate and withhold is a payroll tax known as FICA. What is FICA tax?
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June 14, 2024
What Is an Employee Assistance Program (EAP), and Is it Taxable?
Benefits matter to 81% of employees, which means your benefits package is an important recruitment and retention tool. From traditional benefits, like health insurance, to newer benefits, like student loan repayment, you’re always looking for the next best thing. Have you heard of employee assistance program (EAP) benefits? What is EAP, exactly?
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June 5, 2024
Form W-2 Box 12 Codes and Explanations
Each year, you need to file Form W-2 for your employees. You might need to use Form W-2 Box 12 codes to accurately fill out Form W-2.
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June 5, 2024
What Is the Difference Between Gross and Net Pay?
Running payroll can be confusing. Although it’s natural to have payroll questions when starting out, you can’t afford to get tripped up when it comes to gross vs. net pay. Knowing the difference between gross and net pay impacts employee wages, payroll withholdings, recordkeeping, and even employer laws.
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June 5, 2024
Workplace Injury: What to Do When an Employee Is Injured at Work
Employers reported over 2.8 million injury and illness cases in 2022. A workplace injury can happen in any industry, from manufacturing to finance. You must cultivate and maintain a safe work environment for your employees.
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May 30, 2024
Payroll KPIs and Statistics: Small Business Payroll Performance
Running payroll is more than cutting employees a check for their hours worked. Payroll takes time. A lot goes into calculating and withholding taxes and deductions. There’s room for mistakes and opportunities for improvement. You can use payroll KPIs, or key performance indicators, to analyze how well you manage payroll.
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May 29, 2024
How to Hire and Manage Temporary Employees
Do you need an extra set of hands for a few weeks or months? You may opt for a temporary employee. Temporary employees can cover for employees on leave, help during your busy season, or fill in gaps in the workplace.
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May 22, 2024
What Is Pay as You Go Workers’ Comp?
Workers’ compensation insurance isn’t just a great way to help protect your business investment. In many states, it’s required if you have employees. Pay as you go workers’ comp lets employers pay only for the workers’ comp insurance they need in real-time.
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