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Worried about the Changes in Payroll Taxes?

At this particular moment in time, it doesn’t matter which side you fall on for the new Tax Cuts and Jobs Act passed in late December, 2017, it will have an impact on both your personal finances and your business’s financial situation.

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Posted in: IRS and Tax forms, Operating a Small Business, Payroll, Payroll Taxes

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Labor Law Poster Changes

Employers in all states must make sure that their state labor law posters are up-to-date on a regular basis.  Here are a few state changes and their effective dates:

  • Minimum wage increases effective 1/1/18, for Alaska, Arizona, Colorado, Florida, Maine, Minnesota, Missouri,​Montana, New Jersey, Ohio, Rhode Island, South Dakota, and Washington.
  • Minimum wage increase effective 12/31/17 for New York.
  • Transgender rights and discrimination laws in California effective 1/1/18.
  • OSHA laws effective 1/1/18, and wage and hour laws effective 7/10/17, in Hawaii.
  • Rules to be Observed by Employers in Nevada effective 7/1/17.
  • Wage and Hour Notice to Employees in North Carolina, effective 12/31/17.
  • Reasonable Accommodations for Pregnancy in Vermont, effective 1/1/18.

All employers in these states should check their state employment law posters to make sure that they are up-to-date with the new laws effective immediately.  For additional information on these new updates, please contact us at www.newfocushr.com

Posted in: HR Rules, Regulations and Laws

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New Pass-Through Deduction: How It Will Affect Your Business

You’ve probably heard about the new tax law – the Tax Cuts and Jobs Act (TCJA)– signed in late December 2017. If you’re a business owner, you’re likely wondering how the new law will affect your business taxes. One of the most significant and complex changes to the law deals with pass-through businesses and the pass-through deduction. (more…)

Posted in: Bookkeeping and Accounting, Operating a Small Business

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Discover How to Help Your Small Town Business Thrive

Running a business in small town can be very different than owning a business in a big city. You may have less competition in your market, but if your competitors have been around longer, they likely already have long-standing customer relationships. However, there are advantages to having a small town business, such as the ability to experiment more with your products and services, and the capacity to stand out, so you can make a bigger impact. (more…)

Posted in: Operating a Small Business, Payroll, Payroll Processing

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Advance and Arrears: Understanding the Differences Means Good Business Decisions

Something that comes along with all the conversation about the gig economy trend is the issue of billing and payment. There are basically two ways to get paid – in advance or in arrears. While just about everyone understands the idea of getting paid “in advance,” not everyone understands what “arrears” is and how billing in arrears works. There is the stigma that arrears is bad. There is a reason for that. But understanding the differences is important for the financial success of small businesses. (more…)

Posted in: Bookkeeping and Accounting, Operating a Small Business

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Payroll: What’s the Difference Between Contractors and Subcontractors?

Have you thought about hiring someone to do the marketing, human resources, or payroll for your small business? Are you confused about how the relationship works between contractors and subcontractors and your business? Do you wonder how these arrangements may affect your payroll? Many times the terms – contractor and subcontractor – are used interchangeably; however, key differences do exist between the two roles. Therefore, The Payroll Department would like to clarify these terms and explain how they relate to your business’s payroll. (more…)

Posted in: Payroll, Payroll Processing

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Is PTO Right for Your Company?

Managing the day-to-day operations of your business can keep any owner busy. Top it off with the holiday seasons’ flurry of vacation time and sick days, and you’ve got an even bigger challenge. Payroll and paid time off for employees can get complicated. But The Payroll Department is always ready to help you simplify and make payroll details manageable.

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Posted in: Employee Benefits, Payroll Processing, Staffing

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Bookkeeping: Difference Between Bids, Estimates, Proposals and Quotes

Small business owners often need to acquire the services of other businesses. When inquiring about the services a company provides, you may be presented with a bid, quote, proposal, or estimate. Many companies often use these terms interchangeably. However, the definition of these terms can mean different things to different people and in different industries. (more…)

Posted in: Bookkeeping and Accounting, Operating a Small Business

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Bookkeeping is Customer Service at The Payroll Department

We’ve had a big change at The Payroll Department this past year and people are still a little surprised by it. To us, it just makes sense. Customer service becomes a new customer service at The Payroll Department. We see the addition of bookkeeping services as a truly natural extension of the services we offer, for a couple of reasons. (more…)

Posted in: Payroll

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