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Category: Taxes

Demystifying the W-2: A Clear and Concise Guide for Employees

Ah, the W-2. That mysterious, seemingly hieroglyphic document that arrives each January, leaving many of us scratching our heads and muttering, “What does it all mean?” Fear not, fellow wage earners! This W-2 guide for employees is here to shed light on its secrets, transforming it from a cryptic puzzle into a straightforward summary of… Continue reading Demystifying the W-2: A Clear and Concise Guide for Employees

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?

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?

Employment Record Retention: What Are the Federal Laws?

An important question to ask yourself when dealing with employment (and really any business-related paperwork) is how long are you required to keep the records? Unfortunately when it comes to record retention, there is a myriad of answers and a multitude of regulations for different scenarios. We’ve summarized the most common federal laws that relate… Continue reading Employment Record Retention: What Are the Federal Laws?

Tax Filing Tips for 2022

Tax filing season is here, and the IRS is encouraging individuals to assess their tax situation as the deadline to file approaches. Take a moment before you start on your taxes for the year to read up on the special steps involved in assessing your advance child tax credit payments, your economic impact payments and… Continue reading Tax Filing Tips for 2022

Why Choosing a Local Payroll Provider is the Right Decision for your Business

Large businesses of 500+ employees are typically able to have their own, in-house payroll department, or have big money deals in place with the payroll giants to handle it for them. But the vast majority of small and medium businesses are not able to fund their own payroll department (complete with salaries, benefits, insurance, etc… Continue reading Why Choosing a Local Payroll Provider is the Right Decision for your Business

Are Your Employees… Employees?

Are you sure you’re classifying… and paying… each of your employees correctly? The determination between whether an employee is a standard employee or an independent contractor has always been a source confusion and frustration. It’s essential for businesses to get it right, because the consequences can be costly. Fortunately, the IRS has some fairly clear… Continue reading Are Your Employees… Employees?