Payroll Briefs

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IRS Releases 2025 Contribution Limits for Health Savings Accounts 

The IRS announced the 2025 maximum contribution levels for health savings accounts (HSAs) and out-of-pocket spending limits as well as deductible minimums for high deductible health plans (HDHPs) that must be used in conjunction with HSAs. These updated contribution limits are effective for HSAs in the calendar year 2025.   The Basics An HSA is an account created […]

New Overtime Rule Increases Compensation Eligibility

Millions of salaried U.S. workers are set to be eligible for overtime pay starting July 1, 2024. Salaried workers earning less than $43,888 a year will qualify for 1.5 times pay if they work more than 40 hours a week. This impending increase updates the present annual salary threshold of $35,568 based on the methodology […]

6 Benefits of an Employee Self-Service Portal

When employees have questions about their pay, paid time off (PTO) or benefits, they typically turn to the Human Resources (HR) department for assistance. By empowering your workforce with easy access to their payroll information through an employee self-service portal (ESS), you not only foster a culture of transparency but also reduce administrative burdens for your HR […]

What is Pay-As-You-Go Workers’ Compensation Insurance?

Workers’ compensation coverage is a must in doing business today. It protects your business and employees from lost wages and health care costs in the event an employee suffers a work-related injury or illness. But it does come with some downsides.  Having to shell out payments for requisite workers’ compensation premiums can put a real […]

Payroll Fraud Prevention: 8 Strategies to Protect Your Business

Payroll fraud is a serious threat that can have detrimental effects on businesses of all sizes. From small enterprises to large corporations, no organization is immune to the potential risks associated with payroll fraud. This illicit activity can result in financial losses, damage to the company’s reputation and legal consequences. To help combat this, our […]

Staying in Compliance with Labor Law Posting Requirements 

Adhering to labor law compliance regulations is crucial for employers to maintain a fair and legally compliant work environment while protecting the rights and interests of their employees. Labor law compliance encompasses various aspects, including minimum wage, overtime pay, working hours, workplace safety, anti-discrimination measures and employee benefits. Various federal and state agencies mandate employers […]

IRS Announces Decrease in ESR Penalties for 2025

The IRS announced a decrease for 2025 to the applicable dollar amount used in calculating employer shared responsibility (ESR) payments under the Affordable Care Act (ACA). For 2025, the ESR payment amounts will be $2,900 for failing to offer minimal essential health care coverage and $4,350 for failing to offer affordable minimal essential health care, […]

The Role of Automation in Modern Payroll Processing

In the dynamic landscape of business where innovation is the name of the game, payroll processing has undergone a significant transformation with the integration of automation. Gone are the days of tedious manual calculations and paperwork; automation has emerged as the unsung hero, streamlining processes and enhancing efficiency in payroll management.  Traditionally, payroll processing involved […]

Understanding IRS Form 941 – Employer’s Quarterly Federal Tax Return 

Many businesses are required to report and file tax returns quarterly using IRS Form 941. Form 941, Employer’s Quarterly Federal Tax Return, reports wage withholding to the IRS for income taxes, employees’ shares of Social Security and Medicare taxes and the employer’s share of FICA. The form summarizes the employer’s quarterly payroll tax liabilities and payments, […]

Top Payroll Trends for 2024: Staying Ahead of the Curve

The landscape of payroll management is continually evolving, driven by technological advancements, regulatory changes and shifting workplace dynamics. As we continue into the new year, it’s crucial for businesses to stay ahead of the curve and adapt to the latest trends in payroll processing. Below, we will explore the top payroll trends for 2024, and […]