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What is the Difference Between Income Tax and Payroll Tax?

by Tim AustinSeptember 14, 2018 8:00 AM

Payroll taxes are complicated, especially when you don’t have any payroll training. Small business owners have several tax responsibilities that they must manage throughout the year, which can take up hours of your time each month. Of course, if you incorrectly calculate the tax withholdings for someone’s paycheck, both the employee and the federal or state government may have a bone to pick with you.

One of the most time-consuming and difficult parts of payroll tax management is that there is more than one type of tax that you need to handle. You are responsible for withholding multiple types of taxes from your employees’ wages, including income tax and payroll tax. These taxes each have specific rules in terms of how you and your employees contribute to them and what groups regulate them. Here’s a rundown of the difference between income tax and payroll tax.

Income tax and payroll tax documents for a small business. 

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Payroll

How to Manage Payroll for a Small Business

by Tim AustinSeptember 12, 2018 8:00 AM

Payroll isn’t nearly as simple as just paying your employees. Payroll management encompasses several different steps and responsibilities. Each part of the payroll process requires you to take certain actions or make decisions that impact how your employees are paid and ensure that your business is compliant with any government regulations that apply.

As a small business owner, it’s your responsibility to either take care of each of these steps—or find someone that you trust to manage payroll for you. Here’s a guide to help you learn what it takes to properly manage payroll for a small business.

A small business owner managing payroll by herself.

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HR Considerations for Remote Employees

by Tim AustinAugust 20, 2018 8:00 AM

As time goes by, more employees are working from home. CNN reported in 2017 that “the number of telecommuting workers has increased 115 percent in a decade,” and that nearly 4 million employees spend at least half of their time working remotely

Telecommuting is attractive to employees for many reasons, such as flexible work hours and more time to spend with family, but employers need to consider how the trend will impact their HR initiatives. Here are some ways that remote employees can change how you manage HR.

A small business employee working from home.

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Human Resources

5 Employee Reward and Recognition Ideas on a Budget

by Tim AustinAugust 6, 2018 8:00 AM

A small act of recognition can make a big difference for an employee’s morale. When Forbes reports that nearly two-thirds of employees would "likely leave their job if they didn't feel appreciated," these gestures can help you retain happy, talented employees.

While recognition is a good goal, you also need to make sure that these efforts make sense for your bottom line. Fortunately, there are plenty of good rewards that won’t break the bank. Here are five low-budget ideas that small business owners can use to show employees their appreciation.

A small business owner recognizing an employee for hard work.

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Human Resources

4 Workplace Wellness Trends You Should Consider for Your Business

by Tim AustinJuly 24, 2018 8:00 AM

When your employees are ailing, your business is also likely to suffer. The health and wellbeing of your employees can play a big part in your company’s success, as a happy, healthy workforce has several benefits, including:

  • Increased productivity
  • Reduced absenteeism
  • Decreased medical costs

Many small business owners have turned to workplace wellness programs to help improve the wellbeing of their employees. Over time, these programs have evolved to address specific issues to better serve employers and their employees. Here are some recent wellness trends than may be a good fit for your business.

An office worker stretching as part of the company’s workplace wellness program.

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Benefits

5 Summer Safety Tips to Protect Your Employees from the Heat

by Tim AustinJuly 19, 2018 8:00 AM

You can’t control Mother Nature, but you can take steps to protect your company. Summer heat is a serious threat for any business that operates outdoors, as thousands of workers suffer from heat illnesses each year.  

While you can’t control the heat, you can take measures to protect your employees from heat stroke and other serious health issues. Follow these heat safety tips to help protect both your employees and your business this summer.

An employee practicing summer heat safety.

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Risk Management

The Differences Between PEOs and Brokers for Small Business Health Insurance

by Tim AustinJuly 17, 2018 8:00 AM

When small business owners decide to offer health insurance to their employees, they don’t have to find a plan by themselves. The process can be very complicated for people without an intimate knowledge of how health insurance works, so owners typically turn to brokers or PEOs to guide them through the process. While both PEOs and brokers have the same general goal—to find you quality, affordable health insurance for your business—they work in different ways.

Small business owner deciding between health insurances services between a PEO and a broker.

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Benefits

Can I Offer Health Insurance to Certain Employees?

by Tim AustinJune 21, 2018 8:00 AM

Health insurance comes with many responsibilities for small business owners. Regardless of whether you’re trying to cut health insurance costs or reward specific employees, you may wonder exactly how those responsibilities affect who you offer health insurance coverage. Can you pick and choose who can be a part of your health plan, or are there federal regulations involved? As you may expect, there are some rules you need to follow.

Employees at a company that offers group health insurance coverage.

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Benefits

Small Business Health Insurance Requirements

by Tim AustinMay 31, 2018 8:00 AM

It’s not uncommon for small business owners to wonder exactly what their responsibilities are when it comes to health insurance. With all the uncertainty that can surround healthcare, it’s understandable that owners may be unsure of what the future holds, or what they need to do to make sure their business isn’t violating any legal requirements. Those requirements can depend on the size of your business and if you offer healthcare coverage.

To start, small businesses with 50 or fewer full-time equivalent employees are not required to offer health coverage. However, these businesses are still required to provide a report about healthcare information to employees. This reporting should cover certain information about the marketplace, such as what it is and how employees can contact the marketplace

Despite it not being mandatory, many small businesses with fewer than 50 full-time equivalent employees still make the choice to provide workers with health insurance because quality healthcare coverage can help businesses attract and retain top talent. This decision can be very beneficial, but it does mean that small business owners will need to take on a few new responsibilities.

A doctor helping an employee with small business health insurance coverage.

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Benefits

Do I Need Payroll Software for My Small Business?

by Tim AustinMay 24, 2018 8:00 AM

Let’s be honest; what business owner looks forward to managing payroll? While payday may be exciting for your employees, it’s likely that you’re not thrilled about having to put together payroll reports, track deductions, and oversee every other critical aspect of payroll administration, especially if you do everything by paper. 

For some small business owners, payroll administration is just a necessary part of business life and the business isn’t big enough to justify its own HR department. While payroll administration is necessary, it doesn’t have to be a big burden. Online payroll software can give you the tools to take some of the pain out of payday preparation. Here are a few questions you should consider when evaluating your payroll management process.

Small business owner using online payroll software. 

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