How do I Incorporate Tip Credits into Server Wages in Virginia?
What is the tip credit system? Since tips are a normal and expected part of the restaurant industry, employers can factor tips into a server’s minimum wage. Essentially, an employer can pay servers less than minimum wage because they expect tips to make up the difference. The absolute minimum an employer can directly pay a… Continue reading How do I Incorporate Tip Credits into Server Wages in Virginia?
Does Virginia Beach Require Employers to provide Hourly Workers with Electronic Paystubs?
Virginia law requires employers to provide all employees with paystubs. Not just hourly workers, but salaried workers as well. You do NOT have to provide paystubs to independent contractors since they are responsible for their own record-keeping. Does the paystub have to be electronic? No, Virginia law says the paystub can be either written OR… Continue reading Does Virginia Beach Require Employers to provide Hourly Workers with Electronic Paystubs?
2025 401k Contribution Limits
Good news for retirement savers! The Internal Revenue Service (IRS) has announced that 2025 401k contribution limits will increase to $23,500. This represents a $500 increase from the 2024 limit. What does this mean for you? Higher Contribution Limits: You can now contribute more to your 401k plan, helping you save more for retirement. Increased… Continue reading 2025 401k Contribution Limits
DOL Increases Minimum Salary for Exempt Employees
The U.S. Department of Labor (DOL) has set increases to the minimum salary for many exempt employees. This is a significant change that will impact businesses nationwide. Here’s a breakdown of what you need to know: The Increase: The new rule implements a two-step increase for exempt executive, administrative, and professional employees (EAP): Current: Minimum salary… Continue reading DOL Increases Minimum Salary for Exempt Employees
Safeguard Your Business: Ensuring Payroll Protection for Unexpected Financial Challenges
As a business owner, you understand the importance of timely and consistent payroll. Not only is it a legal obligation, but it also plays a crucial role in maintaining employee satisfaction and loyalty. However, unexpected financial challenges can make it difficult to meet payroll demands, leading to stress and potential consequences for your business. Smart… Continue reading Safeguard Your Business: Ensuring Payroll Protection for Unexpected Financial Challenges
Transitioning to the ‘GO NEXT’ Payroll Experience
The “Employer on the GO” classic service is being updated with a more modern, user-friendly interface and additional features. You may have been using this product for many months now as it has gone through a beta release with the option to switch back to the classic version of Employer on the GO. The new… Continue reading Transitioning to the ‘GO NEXT’ Payroll Experience
Understanding the Key Differences between FLSA Exempt and FLSA Non-Exempt Employees in the United States
The Fair Labor Standards Act (FLSA) is an important piece of labor legislation designed to protect the rights of employees and ensure fair treatment throughout the workplace. Employees and employers must be aware of what their FLSA classification is. An employee is either FLSA exempt and FLSA non-exempt. So how do you know the classification… Continue reading Understanding the Key Differences between FLSA Exempt and FLSA Non-Exempt Employees in the United States
What Is The Employee Retention Credit (ERC) and How Can You Benefit From It?
It’s tax filing season, and our clients are working hard to close out their 2022 filings. However, there’s a potentially huge payroll tax credit some businesses are missing – and we want to make sure that doesn’t happen to any of our clients! That tax credit is called the Employee Retention Credit (ERC). If you… Continue reading What Is The Employee Retention Credit (ERC) and How Can You Benefit From It?
Most Common Payroll Mistakes
A well executed payroll run is central to every aspect of your business. After all, without a successful payroll run, none of your employees (or you!) can get paid… so it’s crucial that you get it right, every single time. Unfortunately, that’s easier said than done – and payroll mistakes happen more often than they… Continue reading Most Common Payroll Mistakes
How are Bonuses Taxed?
Bonuses are a popular way to increase employee loyalty and reward a year’s worth of “jobs well done”. However… as far as payroll goes, they are often misunderstood. With those holiday bonuses on the way, let’s cover one of the most common end-of-year payroll questions: how are bonuses taxed? It’s an oft-repeated question, especially at… Continue reading How are Bonuses Taxed?
