IRS Announces Retirement Plan Changes
Your max contributions to 401(k) plans for 2025 increase to $23,500, up from $23,000 for 2024, according to the IRS. The tax agency also issued technical guidance regarding...
Blog
We know how challenging running a business can be. Review the following blogs we have provided to help you influence and thrive in your community!
Payroll News
November 06, 2024
IRS Announces Retirement Plan Changes
Your max contributions to 401(k) plans for 2025 increase to $23,500, up from $23,000 for 2024, according to the IRS. The tax agency also issued technical guidance regarding...
Additional Posts
Payroll: Deadlines Are Key
Simple payroll errors are avoidable, but if you don’t pay attention, you could end up facing consequences that cost thousands of dollars in compliance penalties. Not only that...
Effective Employee Performance Reviews
Performance reviews often feel like a one-way, top-down process in which you, the boss, are judge and jury. But if reviews are instead a two-way street, employees feel...
Choosing a Successor: Eight Tips
It's unavoidable: One day you will step down as CEO. When that time comes, choosing the right person to succeed you will help ensure the continued sustainability of your business. Click through for tips on choosing a successor.
IRS Adjusts HSA Amounts
In a recent revenue procedure, the IRS announced changes to health savings accounts for 2025. Now is a good time to look at your situation and consider your options. Click through for a review of the changes.
Monitoring Your Employees' Productivity
Worker productivity has been in the headlines recently. One reason is the easy access employers have to the many technologies that can monitor employees — from software that...
Creating an Equitable Compensation Plan
Compensation comprises such elements as wages or salaries, benefits, union perks, employer-provided vendor discounts, work flexibility and paid time off. A company's compensation plan can promote employee engagement,...
Should I Use LinkedIn When Searching for Job Candidates?
When it comes to attracting qualified leads for a position, small business owners often struggle to gain the attention of skilled candidates. However, with the rise of networking...
IRS Announces HSA Limits for 2024
IRS Announces HSA Limits for 2024 In the recently released Rev. Proc. 2023-23, the IRS has made annual inflation adjustments to health savings accounts: For calendar year 2024,...
Small Business Owners Year End Guide
The final month of 2022 is here. It is a time filled with happiness, celebrations, and holidays. However, it is also one of the busiest times of the...
Five Resources for Small Businesses Compliance
Running a small business can be a rewarding and exciting way to earn a living for many entrepreneurs. However, that does not mean it does not come without...
Five ways small business owners can increase profits using PaySmart
The neverending payroll responsibilities that come with running a business are a huge time commitment for many small business owners. That’s why PaySmart is dedicated to relieving small...
Avoid These 6 Common W-2 Errors
As the final months of 2021 arrive, it is time to start thinking about next year's tax season. This means verifying employee information to ensure accuracy when issuing...
Unemployment Fraud is on the Rise
Unemployment Compensation (UC) fraud has increased exponentially with the rollout of the new benefits system. PA Labor and Industry (L&I) is aware of the increase in fraud and...
Pandemic Payroll Tax Credit Support
The coronavirus has adversely impacted Pennsylvania's workforce. An estimated 1.2 million residents have been diagnosed with coronavirus disease. Pennsylvania residents that tested positive for the virus missed work....
Resources that Support Minority and Women Owned Small Business
Owning a small business can be really challenging. Minority and women small business owners face these challenges and additional unique challenges. For instance: There may be a large...
Three Important Upcoming Payroll Tax Due Dates
Most of us are busy counting down the final days of 2020. We are preparing for holiday festivities. Business owners may not be thinking about upcoming payroll tax...
2020 Small Business Owners Year-End Guide
Many small business owners are looking forward to ending 2020. They are looking forward to starting a new chapter after facing the most challenging year our generation has...
Budgeting for Income Taxes: The Importance of Performing Regular Paycheck Reviews
Surprises can be fun and exciting, but not when it comes to taxes! An unexpected hefty tax bill can be stressful! If you or a family member have...
Is Comp Time Legal?
Offering employees comp time instead of paying them overtime is not legal. Giving your employees time off instead of paying them overtime has been a fairly common and accepted...
Security alert: Update your passwords regularly and take time to set up your recovery options.
Wait! Don’t click away just because you think this is one more boring article about online security and who has time for that and how can you remember...
The Tax Consequences of Employee Reimbursements
Employee reimbursements may be considered taxable income unless the three requirements of an accountable plan are met. Employee expense reimbursement is a common issue for employers. Often the...
SSA No-Match Letters
If you receive a no-match letter from the Social Security Administration, stay calm and carry on. OK, so getting any sort of notification from a federal agency can...
FLIGHT Helps You Receive a Significant Federal Tax Credit
The Work Opportunity Tax Credit (WOTC) could provide a 25-40% federal tax credit when you hire employees from specific groups. Applying for WOTC can be daunting because employers...
The Basics of Shareholder Workers' Comp
Shareholders on company payroll can be exempt from workers’ comp, but there is a downside. Pennsylvania law requires employees to carry workers’ comp insurance on all full-time and...
No Timesheet? Employers Still Must Pay Wages on Time.
You must pay your employees on time, even if they fail to turn in a timesheet. Most employees submit their timesheets like clockwork, but some employees struggle to...
About Those W-4's
Employees do not need to complete a new W-4 every year. You may be wondering if your employees should complete a new W-4 for a new year. The...
Vital Employee Files You Need to Maintain
Details, details, details. Love ‘em or leave ‘em, but as an employer, you can’t ignore them. It’s imperative for you to maintain accurate employee files. Here’s the lowdown...
Background Checks
You can find out a lot of information about people - some good, some not so great - by doing a quick Google search or looking them up...
Work Opportunity Tax Credit Presentation
[embed]https://www.youtube.com/watch?v=MDyT4W-x28g[/embed] The Work Opportunity Tax Credit (WOTC) is a federal tax credit many businesses are unaware of. Others believe the application process is too cumbersome. If you aren't applying for...
Workplace Posters
Most of the workplace posters you are required to post under federal and state laws can be downloaded for FREE! That’s right. Free. No dollars required. All you...
PaySmart: PPX features Your Go-to Human Resources Library
The PPX portal is a great tool – you can add and change employee information, enter and submit payroll hours, retrieve your payroll reports, and so much more....
Try Flight Basic Employee Onboarding
Flight Basic is our online employee onboarding program which streamlines your onboarding process. Simply log in via the HUB portal and follow these easy steps.
Change in 1099 Reporting for Non-Employee Compensation to Non-Residents
Beginning in tax year 2018 (filing in 2019), all non-resident payments reported on 1099-MISC will be subject to Pennsylvania withholding taxes (3.07%). Happy New Year! With the new...
Gift Cards Count as Taxable Wages
Gift cards given to employees must be included in taxable wages. 'Tis the season of spreading good cheer and many of you may be celebrating by generously giving...
Dates and Rates to Prepare for 2018 Payroll
It’s hard to believe the holiday season is right around the corner. Soon we’ll be turning the page (or swiping a screen) on our calendars to note the...
Are you eligible for the Work Opportunity Tax Credit?
Employers who hire and retain individuals from specified target groups may qualify for a federal tax credit. The Work Opportunity Tax Credit (WOTC) is a federal tax credit...
What is a workweek?
Every employee must have a fixed and clearly defined seven-day workweek. Sometimes employers get confused between a workweek and a pay period. The IRS is pretty clear on...
The Equifax Data Breach: Seven Recommended Steps from PaySmart
Recent news of the Equifax data breach may not seem like something to pay attention to – stories of data breaches have become almost familiar. But it’s critical...
What Is An Employee vs. An Independent Contractor
Be sure you understand the differences between an employee and an independent contractor. The IRS is pretty specific about the distinctions! Sometimes it's hard to determine whether a...
Great News for Businesses: No Changes to Overtime Rules
Remember last year when many of us were trying to figure out how to handle the new overtime rule? You know, the one that more than doubled the...
Stay Sharp to Identify a Scam
Call PaySmart before releasing financial, SSN, and other payroll-related information to an unknown third party. Scammers are everywhere and practically unavoidable, like flies at a picnic. The world...
Employee Onboarding Now Easier Than Ever!
HUB Flight is an online employee onboarding product that makes it easier than ever to set up a new employee. Hiring an employee is a good thing, but...
Solutions to the Advancing Vacation Pay Quandary
You can use direct deposit or payroll cards to avoid advancing vacation pay. Spring is here and that means your employees are starting to plan summer vacations. That...
Pay-As-You-Go Workers' Compensation- May 4
Pay-As-You-Go Workers’ Comp is a workers' comp solution that will save you time and money. As an added bonus, it’s completely integrated into your payroll process. Workers' comp...
Four Employee Files Employer Should Keep
Details, details, details. Love ‘em or leave ‘em, but as an employer, you can’t ignore them. It’s imperative for you to maintain accurate employee files. Here’s the lowdown...
Should You Consider a Voluntary Contribution to the PA US Fund?
January 30 is the last day to make a voluntary contribution to the Pennsylvania UC Fund, potentially reducing your UC tax rate. By now, you’ve received your 2017...