Payroll Briefs

Category: "Payroll"

5 Benefits of Leveraging Pay Cards for Payroll

In an increasingly paperless world, more and more employers are furthering their green initiatives by taking aspects of their business digital. One of these areas of focus is payroll, with employees greatly welcoming direct deposit of their wages to save trips to the bank. However, not every employee is a bank customer and this proves […]

3 Crucial Reasons to Outsource Your Payroll

For many business owners, the idea of outsourcing any task when it could be handled in-house is seen as an unwarranted expense. However, when you take into account something as crucial and compliance-focused as your organization’s payroll, this couldn’t be more false. No matter if your company is a start-up or a multi-location corporation, outsourcing […]

Undertaking a Pay Equity Audit at Your Business

Pay equity is both required by law and a sound business practice. However, providing equitable compensation to employees who perform the same or similar jobs, while accounting for differences in experience and tenure, isn’t easy. That’s why every company should at least consider undertaking a pay equity audit to assess its compensation philosophy and approach. […]

State Unemployment Insurance Taxable Wage Bases to Reference in 2022

The Federal Unemployment Tax Act (FUTA) mandates each state’s taxable wage base must at least equal the FUTA base of $7,000 per employee. States use different formulas to determine their taxable wage base; some adopt the FUTA wage base as law while others use a percentage of the state’s average annual wage. Then there are […]

Accounting for Inflation and Pay Transparency Within Today’s Workforce

With recent labor shortages and inflation on the rise, business owners are being forced to reevaluate their compensation planning. As it stands, employers struggle with attracting and enticing new hires, as well as structuring salary increases to keep current employees satisfied. A recent report by Payscale, a pay data firm, unveiled key insight from management-level […]

Tips to Spot and Prevent “Ghost Employees”

The concept of a “ghost employee” is one that all business owners and HR professionals should be aware of. This fraudulent activity occurs when an employee is added (or kept) to your payroll, even if they are not an employee or have left the company. Ghost employees could be as innocent as individuals who have […]

Choose Your Payroll Service Provider Carefully

In Tax Tip 2021-103, the Internal Revenue Service (IRS) recently reminded employers to undertake a thorough selection process when choosing a payroll services provider. Proceeding carefully is critical to both lessening the likelihood of fraud and ensuring that your compliance obligations are met. When deciding on a payroll service provider, employers should clearly understand their payroll […]

5 Steps to Easy Year-End Payroll Reporting

The end of the year is quickly approaching, so it’s imperative to start preparing for your year-end payroll reporting as soon as possible. As you’re probably familiar, the year-end payroll process can be overwhelming for a business owner, with the need to accurately calculate taxes, wages and deductions for all your employees in a short […]

DOE Issues Final Extension of Federal Student Loan Relief

The U.S. Department of Education (DOE) issued a press release extending the federal student loan relief until Jan. 31, 2022. According to the announcement, this will be the final extension setting a “definitive end date” for the relief. The extension is welcomed by students and parents alike, as the relief was set to expire on […]

DOL Proposes Rule Increasing Federal Contractor Minimum Wage

The U.S. Department of Labor (DOL) recently issued a notice of proposed rulemaking to implement President Biden’s Executive Order 14026, requiring federal contractors to pay a $15 per hour minimum wage to employees working on federal contracts starting Jan. 30, 2022. The DOL’s proposed rule creates the standards and procedures to implement and enforce the […]