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...
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January 17, 2025
Understanding IRS Form W-2
Each year, businesses give a W-2 form to each employee. The W-2 shows all taxable wages paid to the individual during the calendar year. The W-2 also includes...
Latest posts
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...