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How to Change From Weekly Payroll to Monthly Payroll
by cynix in Business
Paying your employees on a monthly rather than a weekly basis can save your business money and help increase your cash flow. While there are obvious benefits for your company in switching from a weekly to a monthly payroll, your workers -- who will be forced to survive a month on a week's wages -- are likely to be concerned about how they will make ends meet while the change is being actioned. It'

Payroll Expense Vs. Payroll Liability
by JGKelly in Business
Payroll activities involve the financial management of wages paid to workers along with withholding and taxes. Many companies have a payroll department that works closely with accountants to properly record information in the general ledger -- a record that contains financial information relating to a company's business transactions. Two common payroll terms are expense and liability. Payroll E

What Is the Payroll Tax Cap?
by jaysen in Business
The payroll tax cap references an element of the Federal Insurance Contributions Act (FICA) tax. This is a tax imposed on all U.S. employees and their employers to fund Social Security and Medicare. Social Security funds are paid out to retirees according to the amount they paid into the program during their working careers as a means of financially supporting them during this period of their live
TAGS : What Payroll

LLC and Payroll
by dougbeal in Business
The Internal Revenue Service (IRS) does not recognize a limited liability company (LLC) for income tax purposes and, by default, treats LLCs as sole proprietorships or partnerships. But if an LLC hires employees, the IRS suddenly does recognize the LLC, if not as a long-lost friend, at least as an employer who owes the government money. An LLC does not pay any company income tax on profits under d
TAGS : Payroll

How to Keep a Payroll Low
by nasy in Business
Payroll is undoubtedly one of the largest expenses that your business will face, so it makes sense that you want to devote sufficient time and effort to managing this crucial part of your income statement. But payroll is more than just dollars and cents; payroll involves people and emotions. It is much easier to manage payroll and keep it low, then to try to cut payroll back once it balloons out o
TAGS : Keep Payroll

How to Use ADP for Payroll
by Victorian Gray in Business
ADP is a provider of multiple services for business owners, including payroll services. The benefits of using ADP for payroll is it streamlines your accounting processes, including calculating each employee's payroll taxes and deductions. ADP allows you to choose the services you want for payroll needs and permits bundling to save your company money. Pricing and ADP payroll services also will depe
TAGS : Payroll

Can an LLC Do Payroll?
by tontod in Business
In general, a limited liability company, LLC, with employees is required to pay employment taxes. Failing to file and make payroll tax payments leads to fines, penalties and possibly an investigation if the LLC willfully neglects its federal tax obligations.
TAGS : Payroll

What Is ABR Payroll?
by ferpaz in Business
Payroll can be one of the most challenging parts of operating a business. It can take a lot of time and money, especially when hiring temporary workers. One way to avoid this is to outsource part of the payroll work. One such outsourcing company is ABR Employment Services, which is the parent company for the Kinsa Group, which outsources workers in the food industry. ABR Employment Services handle
TAGS : What Payroll

What Is a Payroll Tax?
by kodeninja in Business
When you get paid you don't get all the money your employer "owes" you. If you look at your paycheck stub, you'll see that payroll taxes have been deducted. There are also other payroll taxes that your employer is responsible for. The taxes employers pay provide unemployment benefits and help fund Social Security and Medicare. IdentificationA payroll tax is money deducted from an employee's ear
TAGS : What Payroll

Payroll Tax Help
by htcg1htcg1 in Business
Federal payroll taxes include federal income tax, Medicare tax, Social Security tax and federal unemployment tax. State payroll taxes vary by state, but generally include state income tax and state unemployment tax; in some cases, city and local income taxes, state disability insurance and job training taxes apply. Employers and employees should use the necessary resources to ensure compliance.
TAGS : Payroll Help

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