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The Latest Payroll, HR, and Business Insights

What FICA, Federal, State and Local Taxes are Businesses Required Withhold?

What FICA, Federal, State and Local Taxes are Businesses Required Withhold

As an employer, you will have employment tax obligations if you have employees. As an employer you are responsible to withhold and deposit the employees’ portions of taxes and for ... Read more

What Happens If I Pay My Business Payroll Taxes Late or Incorrectly?

What Happens If I Pay My Business Payroll Taxes Late or Incorrectly?

The Failure to Deposit Penalty is applied to employers who fail to deposit employment taxes: This includes Federal Income Tax, Social Security and Medicare Tax and Federal Unemployment Tax. Employers ... Read more

What are the Critical Distinctions Separating W-2 and 1099 Employees?

What are the Critical Distinctions Separating W-2 and 1099 Employees

Freelancers or independent contractors differ primarily from regular employees in terms of their employment and tax status. W-2 employees A W-2 employee is regularly on payroll of an organization, and ... Read more

How Do I Decide Do Have W-2 or 1099 Employees?

How Do I Decide Do Have W-2 or 1099 Employees

If you’re considering hiring someone, and you’re trying to decide whether to classify them as a W-2 employee or independent contractor, you’ll want to pay attention to this section and ... Read more

How Can I Make Sure My Business Stays Compliant with Payroll Tax Laws?

How Can I Make Sure My Business Stays Compliant with Payroll Tax Laws?

If you’re running a business, it’s important to stay compliant with all payroll tax laws and regulations. As an employer, this means you’re withholding and paying various payroll taxes on ... Read more

What Retention System Regulations Exist for Storing Payroll Records?

What Retention System Regulations Exist for Storing Payroll Records?

You can select the retention system that best suits you, and most employers are gradually moving toward digitized records. Some in the industry see it as a potentially positive development ... Read more

What Payroll Mistakes Do Small Businesses Make Most Often?

What Payroll Mistakes Do Small Businesses Make Most Often?

You’re working hard at running your business. You don’t want to have to worry about an expensive payroll error. In fact, 40% of small businesses are fined on average $850 ... Read more

How Do I Know If I Should Outsource Payroll Instead of Doing It In-House?

How Do I Know If I Should Outsource Payroll Instead of Doing It In-House?

The payroll portion of your business is an essential function which must be accurate, timely and compliant with changing laws and regulations. You might be thinking whether or not to ... Read more

What Payroll Retention Records Are Businesses Required to Maintain?

What Payroll Retention Records Are Businesses Required to Maintain?

Having good payroll records is fundamental to business in New Mexico. Beyond that, and for these reasons retention is legally required, keeping good records keeps your business safe during audits ... Read more

Should You Outsource Your Payroll Processing?

Should You Outsource Your Payroll Processing?

Companies have obligations and must file things to employees. Payroll issues are complex for today’s high-tech business world. A company’s payroll department has many moving parts of employees’ pay. This ... Read more

What are Payroll Taxes and How Do They Work?

What are Payroll Taxes and How Do They Work?

Many business owners already have some kind of accounting help, whether it’s a bookkeeper or software, but even with assistance, paying employees can be tough. People who are going to ... Read more

What records do I have to keep for payroll purposes?

What records do I have to keep for payroll purposes?

Whether you have few or many employees, maintaining payroll records will be vital to your operation. But with all the paperwork, documents and behind-the-scenes requirements from regulators, it can quickly ... Read more