Payroll Taxes Archives - Patriot Software

Payroll Taxes Archives - Patriot Software Fri, 25 Oct 2024 18:42:41 +0000 en-US hourly 1 https://wordpress.org/?v=6.6.2 https://www.patriotsoftware.com/wp-content/uploads/2020/01/cropped-site-favicon-32x32.png Payroll Taxes Archives - Patriot Software 32 32 Alabama Overtime Tax Law: Tax Break for Employees, Required Reporting for Employers https://www.patriotsoftware.com/blog/payroll/alabama-overtime-tax-law/ Tue, 24 Sep 2024 13:43:17 +0000 https://www.patriotsoftware.com/?p=67242

Understand the new Alabama overtime tax law that exempts employees' overtime earnings from state income tax. Get the details and reporting requirements for businesses.

]]> How to File Employee Taxes (Federal Income, Social Security, & More) https://www.patriotsoftware.com/blog/payroll/how-to-file-employee-taxes/ Wed, 18 Sep 2024 15:37:28 +0000 https://www.patriotsoftware.com/?p=70295

Business owner filing employee payroll taxes online.

You’re part business owner, part marketer, and part … payroll tax filing extraordinaire. And being a payroll tax filing extraordinaire requires that you know how to file employee taxes. Filing payroll taxes takes time and an understanding of the process. Read on to learn more about filing employee taxes. And, find out how online payroll […]

]]> ERC Voluntary Disclosure Program Reopened, Giving Discounts on Questionable Claims https://www.patriotsoftware.com/blog/payroll/erc-voluntary-disclosure-program/ Thu, 29 Aug 2024 19:29:00 +0000 https://www.patriotsoftware.com/?p=66057

Business owner learning about the Employee Retention Credit Voluntary Disclosure Program

The employee retention credit (ERC) was a lifeline for small businesses struggling to stay open during the pandemic. But bad actors quickly pounced on the opportunity. “ERC mills” began aggressive marketing campaigns advising employers to apply (even if they didn’t qualify) and collecting hefty upfront fees. As a result, a slew of unqualified applications flooded […]

]]> What Is My State Unemployment Tax Rate? [Chart] https://www.patriotsoftware.com/blog/payroll/what-is-my-state-unemployment-tax-rate/ Fri, 09 Aug 2024 22:52:00 +0000 https://pslohio.wpengine.com/uncategorized/what-is-my-state-unemployment-tax-rate/

overwhelmed woman wondering what is my state unemployment tax rate

Running payroll means staying on top of your employment tax responsibilities. In addition to withholding income and payroll taxes from employee wages, you must contribute employer taxes. Unlike some other taxes, state unemployment taxes do not have a standard rate. Read on to answer, What is my state unemployment tax rate? About state unemployment tax […]

]]> OASDI Tax: Old-Age, Survivors, and Disability Insurance (OASDI) Tax Deductions https://www.patriotsoftware.com/blog/payroll/oasdi-tax/ Tue, 18 Jun 2024 20:32:09 +0000 https://www.patriotsoftware.com/?p=68642

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. How much is OASDI […]

]]> What Is FICA Tax, and How Much Is It? https://www.patriotsoftware.com/blog/payroll/what-small-businesses-should-know-about-fica/ Mon, 17 Jun 2024 17:56:00 +0000 https://pslohio.wpengine.com/uncategorized/what-small-businesses-should-know-about-fica/

employer using a calculator with lights in the background as they calculate fica tax

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? What is FICA tax? FICA is a mandatory payroll tax equally split between employees and employers. Unlike […]

]]> What Is an Employee Assistance Program (EAP), and Is it Taxable? https://www.patriotsoftware.com/blog/payroll/employee-assistance-program/ Fri, 14 Jun 2024 19:03:56 +0000 https://www.patriotsoftware.com/?p=68579

Employee taking advantage of employee assistance program with video counseling.

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? Just over half […]

]]> What Is the Difference Between Gross and Net Pay? https://www.patriotsoftware.com/blog/payroll/gross-vs-net-pay-differences/ Wed, 05 Jun 2024 21:22:00 +0000 https://pslohio.wpengine.com/uncategorized/gross-vs-net-pay-differences/

Woman calculating net pay from gross pay with calculator and paper.

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. Learn gross pay vs. net pay, how […]

]]> How to Calculate Net Pay: Step-by-step Guide and Examples https://www.patriotsoftware.com/blog/payroll/how-to-calculate-net-pay-from-gross-pay/ Wed, 08 May 2024 18:00:00 +0000 https://pslohio.wpengine.com/uncategorized/how-to-calculate-net-pay-from-gross-pay/

man learning how to calculate net pay from gross pay

Employee salary: $50,000 a year. But you know that’s not what they’re walking away with. Between taxes and benefit deductions, the employee’s take-home pay could be far from the $50,000 sticker price (cue the sad violin). Learn how to calculate net pay to find your employees’ take-home wages. After all, you want to run an […]

]]> New W-4 Form: IRS Makes Minor Changes to 2024 Form, Allowances Still Out https://www.patriotsoftware.com/blog/payroll/new-w-4-form-irs-changes/ Wed, 08 May 2024 16:12:00 +0000 https://pslohio.wpengine.com/uncategorized/new-w-4-form-irs-changes/

You don’t file Form W-4 with the IRS, but your payroll depends on it. Employers use Form W-4 to determine how much to withhold from an employee’s gross wages for federal income tax. How familiar are you with the new W-4 form for 2024? Don’t get caught out of the loop. Read on to learn about […]

]]>