Blog « The Payroll Department

Employee Awards and Gifts: What is Taxable vs. Non-taxable?

Posted by Elaine on March 15, 2018

Small business owners are a hard-working lot and when there are employees who are working hard alongside them, they recognize that and want to reward those efforts. Special cash and gift bonuses and awards come to mind, but that opens up a whole slew of questions because there are rules as to what is and is not taxable as income. It’s complicated for a business owner, but don’t let that keep you from rewarding valuable employees. Here’s some information that will help you make good decisions about employee perks. (more…)

Tags: awards, employee bonuses, gifts, payroll taxes, payroll taxes on bonuses, taxable gifts, The Payroll Department

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

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New Internship Guidelines—Who Needs to Get Paid?

Posted by Paige Henry on March 13, 2018

Offering an internship is one of the best things a company can do—both for their own interest, as well as for the community at large. The intern benefits by receiving real-world work experience for their career and interests, and the business gets a helping hand. But sometimes, that line between intern and employee can get a little fuzzy. (more…)

Tags: employees, intern, interns, internship, internship guidelines, small business, The Payroll Department

Posted in: Operating a Small Business, Payroll

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IRS Issues New Withholding Guidelines for Payroll Taxes

Posted by Elaine on February 27, 2018

The Internal Revenue Service (IRS) has issued the new (percentage method) payroll withholding tables for 2018 along with notification that the W-4 Form is in the process of being updated to reflect the new tax law. For the moment, no new form is required and employers should retain the existing forms for all employees. In addition to recalculating the new payroll tax deduction, there are a several other changes for employers to consider. (more…)

Tags: IRS, outsourcing, payroll, payroll taxes, small business, tax withholding, Teresa Ray, The Payroll Department

Posted in: IRS and Tax forms, Payroll, Payroll Processing, Payroll Taxes, Rules, Regulations and Laws

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How to Stay on the Path to the Most Successful Year Ever

Posted by Elaine on February 20, 2018

How is the year looking for you so far? It kind of goes along with the way of resolutions that we start the year with high hopes and ambitions, but once we get back to the daily grind, well, it gets ground away. All of us here at The Payroll Department want you to know that there are some steps you can take to put you back on the path of making this year the best one ever. (more…)

Tags: building a business, outsourcing, payroll, small business, success, successful, Teresa Ray, The Payroll Department

Posted in: Operating a Small Business, Payroll

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Is It Time Your Business Hired a Bookkeeper?

Posted by Ariane on February 13, 2018

As a small business owner, are you handling your production, marketing, administration, and bookkeeping on your own? Doing it all yourself is one of the biggest mistakes that many entrepreneurs make when running a business. (more…)

Tags: bookkeeper, bookkeeping, Grace Walker, outsourcing, small business, Teresa Ray, The Payroll Department

Posted in: Bookkeeping and Accounting, Operating a Small Business

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4 Issues to Consider Before You Hire Employees

Posted by Ariane on February 8, 2018

Is your small business finally taking off to the point where you need to hire employees? While this can be an exciting next step for any entrepreneur, it can also be a nerve-wracking change. After all, you’ll be delegating some business tasks you normally do. Plus, you’ll now being taking on the role of employer. (more…)

Tags: employees, employers, outsourcing payroll, payroll, payroll provider, payroll taxes, small business, small business payroll, The Payroll Department

Posted in: Bookkeeping and Accounting, Operating a Small Business

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Do You Know the Difference Between Payroll Expense and Cost of Labor?

Posted by Ariane on January 30, 2018

Did you know that the cost of labor can be one of the largest expenses a small business can have? It’s second only to the cost of real estate, according to the U.S. Department of Labor. Depending upon the industry you’re in, labor costs can range from 10% to 30% – or more. For your small business, your labor costs can quickly eat up your earnings if they’re not monitored and adjusted accordingly.

(more…)

Tags: accounting, bookkeeper, bookkeeping, Brownsburg, employees, employers, Grace Walker, Indiana, outsourcing, small business, small business owners, Teresa Ray, The Payroll Department

Posted in: Bookkeeping and Accounting, Operating a Small Business

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Worried about the Changes in Payroll Taxes?

Posted by Elaine on January 23, 2018

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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Tags: Brownsburg, employees, employers, Indiana, IRS, payroll, payroll taxes, small business, small business owner, Teresa Ray, The Payroll Department, withholding

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

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Labor Law Poster Changes

Posted by payroll on January 22, 2018

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

Posted by Ariane on January 16, 2018

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…)

Tags: bookkeeping, Grace Walker, income taxes, small business, small business owner, tax laws, The Payroll Department

Posted in: Bookkeeping and Accounting, Operating a Small Business

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