The best contractor payroll services help you onboard new independent contractors and collect the forms you’ll need for end-of-year tax reporting; many even offer direct deposit at no additional cost. Before deciding on a service, it’s important to evaluate pricing, because some providers have low-cost plans ($5 to $6 monthly per contractor) that you only…
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What Is Form 944? Plus 2020 Instructions
Form 944 is an IRS form that very small businesses use to file their employer taxes on an annual basis. It is specifically for businesses that have at least one employee and owe less than $1,000 annually in federal taxes (income tax withholdings plus Social Security and Medicare taxes). This article covers the when and…
Free Pay Stub Template: Tips & Laws on What to Include
A pay stub is a document that serves as a record of an employee’s paid wages in addition to taxes and deductions withheld. In this article, we provide free pay stub templates to help you comply with laws in the 41 states that require employers provide them—even if paying with cash or direct deposit. As…
7 Best Professional Employer Organizations (PEO) Companies for Small Businesses
Professional employer organizations (PEO) bundle benefits and manage human resources (HR) operations (like recruiting, onboarding, payroll, and training) into one service—allowing small business owners to outsource tedious HR management tasks. The best PEO companies have the buying power to negotiate affordable employee health insurance. They can also reduce your workers’ compensation expenses by pooling employees…
Self Employed Payroll: How to Process Your Own Paycheck
When processing payroll for yourself vs employees, choosing the right business structure is key to minimizing taxes. Determining how much and how often to pay helps with managing profitability and cash flow, which is why setting up a self employed payroll system is important. Good payroll services make it easy and support employers with tax…
10 Tips on How to Conduct a Video Interview
More than ever, companies are relying on video interviewing to assess and hire candidates. Although technology has advanced to the extent that video connections feel almost as personal as face-to-face connections, employers do need to learn some basics around how to conduct a video interview in order to ensure a seamless experience. 1. Do a…
Final Paycheck Laws Every Employer Should Know in 2021
Final paycheck laws dictate how much time an employer has to issue a final paycheck following an employee’s resignation or termination. In general, federal law does not require employers to issue final paychecks immediately. However, state statutes generally require employers to send out final paychecks on an employee’s last day or within a certain number…
10 Easy Hiring & Social Recruiting Tips
Social media brings awareness to your company, but is also great for posting open jobs and reaching out directly to passive candidates. It gives others an opportunity to tag your company via social posts and share career opportunities. Social media recruiting allows you to research more about potential candidates as well. Through social sites, you…
How to Calculate Overtime for Hourly & Salaried Employees
Overtime is an important part of calculating payroll. If you hire employees who are 16 or older, there is no limit on how many hours they can work in a workweek. However, you may have to pay them overtime at a rate of at least 1.5 times their regular pay for hours worked over 40…
5 Tips to a Successful Diversity Recruiting Strategy
Advertising and recruiting to fill your jobs with a diverse group of people requires two different approaches. In our five tips for creating a killer diverse recruitment program, we include a common yet valuable theme. Each tip drives you toward building a better, stronger, more dynamic team. These tips are not designed for you to…
Payroll Compliance: Important Payroll Laws to Know in 2021
When you become an employer, you must follow all payroll laws to avoid financial penalties, lawsuits, and even worse, being forced to close your business. Payroll laws specifically govern how you pay your employees and taxes as well as how you report this information. To name a few, this includes overtime pay requirements, payroll taxes,…
6 Different Payroll Rules by Industry
You may be familiar with the general regulations surrounding payroll, but what about the industry-specific payroll rules? Depending on the industry your business is in, you may have to comply with additional reporting requirements, tax rules, or even minimum wage limits. The agricultural, restaurant, construction, religious, and nonprofit industries all have special rules businesses must…