This article has been updated to include 2022 tax information. As an employer, you must stay on top of your payroll responsibilities, including federal, state, and local taxes and deductions. If you are an employer with employees who work in Washington state, you need to know about the Washington paid family leave program.Read More Washington Paid Family and Medical Leave
Unhappy with your current payroll provider? Most business owners agree that running payroll is their most difficult business task. With payroll being such a complicated but necessary business function, it makes sense that you’d want a simple solution. But, isn’t switching payroll companies hard?Read More Switching Payroll Companies: A How-to for the “How-come I Didn’t Switch Earlier?”
Are you an accounting professional hungry for new accolades, knowledge, and ways to stand out from the competition? If so, you might be interested in getting your certified management accountant certification. You can expand your financial planning and strategic financial management skills through this CMA certification.Read More Certified Management Accountant Certification: What Is It, and Should You Get It?
Your payroll records are chock-full of the personally identifiable information (PII) you need. Unfortunately, hackers also want that data. As an employer, you must secure your payroll records against a potential PII breach. And if one does occur, you need to take swift action.Read More How to Prevent a PII Breach and Safeguard Your Payroll Records
Calculate wages. Withhold taxes. Repeat. That’s the cycle of running payroll for you. But every so often, you’ll get a curveball that changes tax rates. And if an employee earns beyond a certain amount, that curveball is the additional Medicare tax.Read More The 0.9% Additional Medicare Tax You May Need to Withhold
Deciding how to pay your employees takes careful consideration. Not only do you need to think about what payment methods for employees you will use (e.g., direct deposit vs. paper checks), but you also need to consider the types of wages you will provide.Read More Types of Wages That Might Come up in Your Small Business
You’re doing a bank statement reconciliation (aka the process of comparing your bank statement to books) like normal. But, things don’t add up. Suddenly, you realize the discrepancy is because there’s a large charge on your statement … but not in your books. Where’d this come from? I never spent this! And indeed, you haven’t—you’ve […]Read More Business Bank Account Fraud: What to Do If You Notice an Unauthorized Transaction
Want to show your employees you appreciate their hard work throughout the year? You might decide to distribute gift cards to your employees. But before you start doling them out, you need to know …. Are gift cards taxable?Read More Are Gift Cards Taxable?
Payroll tax in Pennsylvania is notoriously difficult, confusing, and overwhelming for new and veteran employers alike. And when it comes to payroll, you probably don’t want to waste time making preventable payroll mistakes.Read More The PA Employer’s No-fuss Guide to Payroll Tax in Pennsylvania
It’s no secret that prices are on the rise. Inflation or not, rising costs are common in business. And as an accountant, you likely have partners (e.g., a payroll partner), office space, equipment, and other expenses that are prone to price increases. So, what do you do if you’re hit with a price increase?Read More 3 Ways to Handle Rising Costs as an Accountant