As one year ends and the new one begins, we want to help you best prepare your payroll in order to avoid penalties from the IRS and generally ensure that you do all the things you need to do the best for your employees. We have collected seven tips that will keep you in line with everything the government and your employees need. Let's dive in.
Leap Years pre-date the Roman Empire, and yet they still mess with our payroll. Before we complain too much, we should consider what happened in 1592 when Pope Gregory XIII decreed a switch from the Julian calendar to the current Gregorian calendar. Everyone went to bed on October 4 and when they woke up it was October 15. That would really mess with your payroll.
With the new year comes the latest revisions in the Fair Labor Standards Act (FLSA). This round of revisions effects both exempt and non-exempt employees. What are these changes? Let's dig in.
While formal payroll and bookkeeping began in the 14th and 15th centuries and the push for livable wages began in France with the First Canut Revolt in 1831, it wasn't until 1894 when New Zealand became the first nation in the world to enact a minimum wage. As for the United States, labor laws were still a few years away.
Topics: Human Resources
So, what is a biometric timeclock anyway? We’ve all seen movies in which government officials or scientists working for some clandestine organization must scan their face, retina or fingertip to gain entry to their building or laboratory. We imagine these “biometric” measures are taken to preserve the secrecy of sensitive information. But, today's employers are increasingly using biometric technology for their timekeeping system. But why? The answer is simple easy: when biometric timeclocks are used with a time and labor management system, they help employers control cost and minimize compliance risks.
Everyone agrees: paying your employees is an important aspect of running your business; but it can be time consuming, overwhelming and sometimes confusing. One must keep abreast of constantly changing payroll laws, tax rules and employment regulations. Often, you only hear from someone if a mistake has been made. It can be a frustrating, thankless task. Considering the time and effort that goes into manually generating payroll, it’s no wonder many organizations hire a firm to handle payroll services for them.
Even for the best employers, employee resignations are inevitable. Whatever the reason---they think they've found greener pastures, their spouse has accepted a position out of state, or family responsibilities require their time and attention---the resignation of an employee sets into motion a series of steps that you should take to ensure a smooth transition.
Topics: Human Resources
With 2020 comes a brand new W-4 Employee's Withholding Certificate from the IRS. This form is used to give you a chance to tell you how much tax to withhold from each paycheck. So what do you need to know about the IRS' new form? Let's dig in.