The IRS Form W-2 is important for both you and your employees. Employers must fill these out and supply them to employees, the IRS, and some state tax agencies, no later than Jan. 31 of the year following the year being reported. Employees use the forms to report payroll taxes paid, and the IRS uses…
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How To Print Payroll Checks Online for Free
Finding ways to print payroll checks online for free is a good option if you have employees who prefer checks over direct deposits; however, free services are generally limited—some only allow one check per day. All you need is a printer, check stock, and magnetic ink, and you can usually print within minutes. If you…
Payroll Checks: Where To Buy Payroll Checks & Paper
You will need to process payroll checks manually if you’re not paying your employees electronically. To start, you need check stock. Depending on where you purchase, you should expect to pay from around $30 to $150 for a ream of 500 checks and even more if you have them customized. Where To Buy Payroll Checks…
2020 Payroll Tax Holiday & What It Means for Small Businesses
President Trump recently passed an executive order freezing the Social Security tax for employees, but what does this really mean for small business employers? There are still some unanswered questions about how this will work, but the intention is to increase employee paychecks by not withholding the 6.2% Social Security tax that is currently required….
How to Do Payroll in 8 Steps (+ Free Checklist)
When people think of payroll, they immediately jump to number crunching. Although calculations are a part of it, if you really want to learn how to do payroll, you’ll need to understand the overall process. It includes everything from setting up your business as an employer to paying your employees, tax agencies, and other applicable…
7 Best Online Payroll Services & Payroll Companies 2020
The best payroll services help businesses pay employees correctly, manage tax withholdings, and ensure deductions are taken for benefits, retirement savings, and garnishments. Annual payroll-related costs for 10 employees can range from $1,000 to more than $22,000. The best online payroll services are affordable, easy to use, and include both payroll and human resources support….
6 Best ADP Payroll Competitors for Small Business
ADP is an established payroll provider that many businesses rely on to pay their employees and stay on the right side of the law. However, some companies experience inconsistent customer service quality, and there are tons of complaints about login issues. The software setup takes a while, and the products are too pricey and overwhelming…
Withholding Tax Explained for Employers
Employers are required by law to withhold money from employee paychecks for income taxes. These are generally called withholding taxes and do not include the Social Security and Medicare (FICA) taxes employers are also responsible for withholding. This applies to salary and hourly employees, full- and part-time employees, but not contractors. To handle income tax…
How to Set Up Direct Deposit for Employees
Direct deposit is the most common way to pay employees, and with good reason. Employee paychecks are deposited directly into their bank accounts, usually within a couple of days after you process it. Learning how to set up direct deposit is simple—you need bank account information, documented employee approval, and a service to help facilitate….
How to Set Up, Calculate & Pay Payroll Tax Payments in QuickBooks
Employers are liable for paying their own employment taxes (Social Security, Medicare and unemployment) in addition to withholding and paying payroll taxes for their employees. All three QuickBooks Payroll plans (Core, Complete, and Elite) make it easy to calculate and pay these taxes, however, there are a few steps required to set up tax information…
How to Do Payroll in QuickBooks Online in 9 Steps
If you’re already using QuickBooks Online and you have employees, consider adding QuickBooks Payroll to your plan. You can access it from the same system you use to manage your business’ books, and your payroll expenses will easily transfer to the appropriate general ledger accounts. In just a few easy steps, you can set up…
Top Human Resource Payroll Software 2020
Human Resource payroll software gives businesses a range of HR support in addition to payroll processing features. It shares information between the two functions—employee record changes that affect payroll are automatically synced. Costs can run from $16 to over $150 per employee, per month, depending on how expansive your HR needs are. 8 Best Human…