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Archive for Payroll Processing

Rely on the Expertise and Leadership of Payroll Professionals to Prevent Costly Mistakes

When Grace and her brother John took over the family small business, John insisted that his expertise was in the office. He would be in charge of any human resources needs, all employee needs regarding benefits and health care, payroll, and anything they might decide to do later, as they considered a partnership with another company.

Grace initially agreed that John’s suggestion was workable. After all, her strength was in sales and marketing. John was the one who insisted that he knew about the core of keeping the business financially on track. It would be a challenge, Grace thought. (more…)

Posted in: Payroll, Payroll Processing, Payroll Taxes

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Federal Overtime Changes Ahead for Small Businesses

If your small business currently employs workers who are exempt from overtime pay, the recent presidential memorandum signed by President Barack Obama requesting changes to overtime regulations could mean your company’s payroll amounts may increase by 2015 or 2016. (more…)

Posted in: News, Operating a Small Business, Payroll, Payroll Processing, Rules, Regulations and Laws

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Work to Your Strengths; Hire a Payroll Provider for Theirs

Small business owners often tease and say they wear every hat in the building. They are the marketing person, the human resources person, the customer service person, the janitor and everything in between. But sometimes that fact is not a laughing matter, especially if you, as the entrepreneur, step outside your comfort zone to take on tasks you know nothing about. In fact, in an effort to save yourself some money, you may actually be putting everything you’ve worked for at risk. (more…)

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

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With a Payroll Provider, Small Business Owners Don’t Fear Costly Payroll Mistakes

When Judy started her catering business, she was immediately busier than she ever anticipated. So she hired two employees. And then she bought a delivery van. Then it was time to rent a larger store front. And then Judy decided to add a bakery to her business. Before she knew it, this entrepreneur had blossomed into a busy, successful small business owner. But as small business owners discover, things do not always go smoothly. (more…)

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

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Payroll Services Give Entrepreneurs Confidence

Every Sunday afternoon, Rusty noticed that his stomach was upset. By Monday morning, a knot was in his throat. For two years, there were sporadic firings going on at the company where Rusty was employed. There seemed to be no rhyme or reason for which employees were picked. The majority were given the “You’re now unemployed” news via email and handed the official pink slip on their way out the door.

When Rusty’s number was finally drawn, he read the “You’re now unemployed” email and felt an odd sense of relief. At least he didn’t have to worry and wait anymore for his turn to be on the chopping block. He was scared to death of being without a job but at least he finally knew his fate. (more…)

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

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Small Business and the Final Paycheck

Mike has been coming into work at your small business late every day for the past two weeks. Even though you’ve counseled him, his behavior hasn’t changed. You have no choice but to terminate his employment. However, when you notify Mike that he’s fired, he demands his final paycheck right then and there. Do you have to pay Mike immediately what he’s owed?

According to Indiana Department of Labor, when employers discharge or lay off employees, they are not obligated to pay the employee immediately. However, the employee’s final wages “must be paid on or before the next regularly scheduled payday,” which would have been when the employee would have normally been paid had he or she remained employed at your workplace.

Even when employees quit, you can pay his or her final wages by the next regularly scheduled payday.

If an employee voluntarily resigns and hasn’t provided a forwarding address, and you don’t know where the employee lives now, as an employer, you must pay the employee:

  • within 10 business days after he or she demands payment of their final wages; or
  • when you receive an address where the final paycheck should be mailed.

If you don’t pay an employee who has resigned or been terminated his or her final wages within the required time frame, your company may have to pay additional penalties, interest, and any attorney’s fees and legal costs the employee spends while trying to force your company to pay them.

By outsourcing your payroll to a payroll services provider, like The Payroll Department located in Brownsburg, IN, they can help you stay in compliance with any government requirements. Contact Teresa Ray, owner of The Payroll Department, at (317) 852-2568. She’ll be happy to talk to you about your company’s payroll needs and explain all of the benefits you’ll receive when you turn your company’s payroll services over to them.

-Ariane of The Payroll Department Blog Team

Posted in: Payroll, Payroll Processing, Rules, Regulations and Laws

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How Do You Pay Employees? Cards, Checks or Direct Deposit?

Some employers are going with an option of issuing wages to employees on payroll cards (like prepaid credit cards) instead of issuing checks or making direct deposits into their bank accounts. Here in Indiana, the state issues unemployment benefits that way. Although it might sound like an easy and desirable option, not everyone is thrilled with it.

In fact, the Consumer Financial Protection Bureau (CFPB) is reporting that employers are reportedly pushing the cards on their workers and that there are some issues. (more…)

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

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Payroll Service is Ready for the Tax Season! Are You?

Generally, people don’t think about filing tax returns until April starts pressing closer. But if you are a small business owner, you know that feeling starts to weigh heavy on your shoulders right around January 1 and it doesn’t let up, really, until you get your personal taxes done in April. (more…)

Posted in: IRS and Tax forms, Payroll, Payroll Processing, Payroll Taxes

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OASDI Annual Payroll Limitation Increased for 2014

Do you know what has risen every year except three since 1971? The Social Security’s Old-Age, Survivors and Disability Insurance (OASDI) program contribution and benefit base. In every day terms, it’s the amount of an individual’s income that is taxable for Social Security. For 2014, that limit is now $117,000. (more…)

Posted in: Payroll, Payroll Processing, Payroll Taxes, Rules, Regulations and Laws

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