Did you know that 401(k) plans are subject to numerous legal compliance requirements? Click through to read about the importance of reviewing plan requirements so that you can be compliant and avoid losing favorable tax benefits, resulting in your program being shut down.As an employer, one of your main goals should be keeping your employees […]
In certain sectors, employees are often “on-call”—not exactly working but not exactly off-duty. The rules regarding pay in such situations are complex. Click through for an introduction to on-call pay, and your responsibilities as an employer. Under the Fair Labor Standards Act, whether employees should receive on-call pay depends on whether the time spent on […]
As an employer, you face the important task of withholding payroll taxes for employees and paying them to the government. It can get complex, so you need to have a formal process. Click through for the details to make sure you’re on top of this responsibility. Employers generally must withhold income tax from employees’ wages. […]
Summary: If you just hired your first employee, it’s time to prepare for your first payroll. There are a lot of steps and possible pitfalls, so you want to get it right from the start. Click through for tips to make sure you’re in compliance from Day One. Regardless of whether your first payroll involves […]
Summary: HR and payroll management can be particularly challenging for small businesses because they tend to have fewer resources than larger employers. But there are options. Click through to discover how solid planning can lead to HR and payroll success.Because small businesses often have limited assets, it’s vital that they prioritize their human resource objectives. […]
Summary: Have you been handling your company’s remote work policy on an ad hoc basis? This isn’t going to cut it in the long term. Click through to rethink home office policies, procedures and benefits tailored to the home office world.What challenges have your employees been facing, and how can you offer the solutions they […]
Industries that pay their employees the minimum tend to have high turnover. There’s a reason for that! Higher wages pay off in the long run. Read through to see why it’s a good idea to pay more than the minimum wage.Enacted in 1938, the Fair Labor Standards Act governs the federal minimum wage, among other […]
It would seem obvious: A bonus is income and gets withheld and taxed just like the money in the regular paycheck. But in reality, it’s more complex than that. Click through for details so no one faces unpleasant surprises at tax time.Bonuses, frequently given at the end of the year, are a popular “thank you” […]
Talking about pay with employees can be uncomfortable — even for experienced managers. But if you plan it right, the talk can be profitable for both parties. Click through for strategies on navigating pay discussions with your staff.During the normal course of business, managers are typically required to have conversations with their employees regarding compensation. […]