Xero

FEBRUARY 15, 2023

For those working in payroll, that can only mean one thing: year end is approaching. There are four key changes in New Zealand payroll calculations for the new financial year: Adult minimum wage will increase to $22.70 If your totals don’t look correct, this could be due to some manual journals. It’s that time of year again.

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ThomsonReuters

MAY 6, 2022

The Spring 2022 Certified Payroll Professional (CPP) exam testing period ended a few weeks ago on April 16, 2022. Thoughts and tips from a payroll pro. Recently, the Checkpoint payroll editorial team had the pleasure to ask American Payroll Association (APA) Board of Directors member James Paille, CPP, some questions about the exam.

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ThomsonReuters

JULY 1, 2022

In our last edition of the Certified Payroll Professional ( CPP ) Corner , we talked about the regular rate calculation for overtime purposes. Payroll Guide ¶18,022 contains a DOL table that can be used to compute overtime on different types of pay that includes commissions. Regular rate of pay for overtime. The answer is “d.

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Xero

MARCH 16, 2023

That’s why we have prepared some resources to guide you through a frictionless payroll year end, and be ready for the start of the 2023/24 tax year. We have also introduced a new checklist within Xero Payroll to streamline your tasks and make it easy as we approach year end.

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ThomsonReuters

JULY 1, 2022

In our last edition of the Certified Payroll Professional Corner (CPP), we talked about Form I-9 (Employment Eligibility Verification). You may wonder, isn’t this a human resources issue and not a payroll one? Shifting responsibility will not help an employer avoid liability. Last edition’s question.

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ThomsonReuters

JANUARY 30, 2023

States eye workforce as a legislative priority for payroll The majority of state legislatures began their legislative sessions this January. A flurry of bills is being proposed in the payroll space — many having to do labor and employment. State legislators are responding to the call. The state has two proposals.

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SchoolofBookkeeping

JULY 20, 2023

This innovative app aims to bridge the gap between employers and employees, providing a seamless and integrated solution for tracking work hours, schedules, and payroll – all in one place. This has the added benefit of enabling employers to invoice customers accurately for billable time and increase profitability of projects.

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ThomsonReuters

JUNE 7, 2023

From the middle of the bustling expo at PayrollOrg’s 41st Congress conference in Denver on May 17, Lisa Weckman, VP of Product at Ceridian, talked with Checkpoint Payroll Update about global payroll challenges facing the industry. The latter increases the complexity when an employer begins to operate in more countries.

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ThomsonReuters

JULY 25, 2023

Jump to: What is an overpayment on taxes? Overpayments and repayments in the current year Overpayments and repayments in subsequent years Preventing tax overpayments What is an overpayment on taxes? In simple terms, an overpayment on taxes is paying more than what is owed.

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CPA Practice

JULY 17, 2023

and Canada, employees who use the QuickBooks Workforce app and are also paid through QuickBooks Payroll will now experience two new pay features: access to their pay stubs and tax documents in the mobile app. For more information on the QuickBooks Workforce mobile app, visit our QuickBooks blog. In the U.S.

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ThomsonReuters

APRIL 12, 2022

Looking back at the last two years and the sprinter’s pace at which COVID-19 payroll tax credit relief was enacted, payroll accountants have earned a well-deserved pat on the back! But as the dust settles on those prior 2020–2021 Form 941 payroll tax returns, undoubtedly credits were missed, and mistakes were made.

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LyfeAccounting

DECEMBER 31, 2020

Well there are taxes that need to be filed and paid, and this post is going to break down all of it. For the purposes of filing and paying employer payroll taxes, I’d highly recommend using a payroll software like QuickBooks or Gusto. And have noticed that taxes were withheld from their paychecks.

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LyfeAccounting

NOVEMBER 17, 2020

I mean…there’s federal taxes, state taxes, sales taxes, Medicare taxes, social security, unemployment, and so on. As a business owner, understanding how to navigate taxes can be extremely overwhelming. I missed payroll tax filing deadlines that cost me thousands of dollars.

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Inform Accounting

MARCH 15, 2023

In short, a P11D form allows you to inform HMRC of any benefits you’ve given to employees outside of payroll, so that the correct tax can be paid by your employees. In this blog we take a deeper dive into P11Ds, when they might arise, and what you need to do as a result. Why do you have a P11D?

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ThomsonReuters

MARCH 30, 2023

ANSWER: Possibly, if you conclude that (1) there is “clear and convincing evidence” that your employee made a mistake; (2) the mistake is of a type that can be corrected; and (3) the correction is appropriate. if she intended to elect health FSA benefits instead, the appropriate correction would be an election of such benefits).

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Nancy McClelland, LLC

DECEMBER 28, 2022

Note: much of the information below was pulled from the old Polito Eppich website — however, they have since merged with another firm to become Magnus Blue , and as such have removed their former blog content. If you’re not careful, then the deduction is mistakenly taken on both the entity-level and personal returns.

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ThomsonReuters

JUNE 2, 2023

A little more than a week before the IRS issued a revised version of Form 941-X (Adjusted Employer’s Quarterly Federal Tax Return or Claim for Refund), and its instructions , the IRS reported that there are nearly 1 million unprocessed amended employment tax returns.

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ThomsonReuters

FEBRUARY 28, 2022

Highlight: The IRS Form 941 is one of the most important payroll-related tax returns used by businesses to report employment taxes, including federal income tax withholding, Social Security tax, Medicare tax, and Additional Medicare tax. Form 941 is a tax report due on a quarterly basis.

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ThomsonReuters

SEPTEMBER 22, 2023

used in the hiring process under Title VII of the Civil Rights Act of 1964 (see Payroll Guide ¶20,450 ). According to the EEOC, employers are using automated systems (including those with A.I.) The guidance includes a list of questions and answers designed to help employers avoid potential discrimination issues when utilizing A.I.

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Nancy McClelland, LLC

DECEMBER 28, 2022

As anyone who’s worked with me — clients, team members, colleagues, vendors — knows, I adore Gusto Payroll. They truly changed my life for the better (not to mention the lives of thousands of small business owners) when they decided to create a tech-forward payroll company that seamlessly syncs with QuickBooks Online.

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Menzies

JANUARY 19, 2023

The UK company with staff overseas would need to comply with the employment law of that region. Blog How to draw up an international business plan read more Step 3 – Managing your time Generally speaking, the further a business expands the greater the impact of time zones on operations and management pressures.

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Cheap Accounting

MARCH 28, 2022

It’s that time of the year when I update our annual blog advising those operating via a Limited Company on how to extract money from their business to pay themselves. This year the blog is different. I am not going to be setting out what you should pay yourself in a salary and how much tax you’ll pay on this and your dividends.

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ThomsonReuters

NOVEMBER 4, 2021

An employee attempting to enroll in his employer’s ERISA-covered supplemental life insurance plan was informed that his elected coverage was “suspended” pending approval of required evidence of insurability. In addition, the plan clearly stated that representations made by the employer were not the insurer’s representations.

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Nancy McClelland, LLC

AUGUST 21, 2023

It’s a combination of legislation that requires most employers to offer a retirement plan to their employees — and a system that fills the gap for employers who do not currently offer retirement savings via payroll deductions. Wave One began in 2018, and included employers with 500 or more employees.

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Nancy McClelland, LLC

AUGUST 21, 2023

It’s a combination of legislation that requires most employers to offer a retirement plan to their employees — and a system that fills the gap for employers who do not currently offer retirement savings via payroll deductions. Wave One began in 2018, and included employers with 500 or more employees.

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ThomsonReuters

AUGUST 18, 2023

A legal expert in multiple practice areas that includes wage and hour litigation recently talked with Checkpoint Payroll Update regarding the legal battles and pending federal legislation surrounding student-athletes and whether they may be classified as employees under the Fair Labor Standards Act (FLSA) in the future.

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ThomsonReuters

APRIL 18, 2023

That’s why it is no surprise that the AICPA’s most recent “Top Firm Issues Survey ” found that “keeping up with changes and complexity of tax laws” is among the top issues for firms large and small. Firms that do not offer staff the flexibility they desire risk losing talent.

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ThomsonReuters

AUGUST 5, 2021

On August 4, 2021, the IRS released Notice 2021-49 that provides additional guidance regarding claiming the Employee Retention Credit (ERC) for employers who pay qualified wages after June 30, 2021, and before January 1, 2022 [IR 2021-165,?Notice The Employee Retention Credit is a refundable tax?credit Notice 2021-49]. ARPA also: .

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LyfeAccounting

JANUARY 25, 2021

I’ve been through it all, from trying to figure out how to do payroll for my very first employee, to figuring out how much I should pay my employees. I’ve paid thousands of dollars in payroll tax penalties. This meant that their wages were not taxed at all. What’s the EASIEST way to set-up a payroll system?

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LyfeAccounting

JANUARY 20, 2021

You had paid salaries and payroll taxes or paid independent contractors. Seasonal employers; the new bill has clarified the definition of these to be businesses that operate no more than seven months within a year or earn no more than a third of gross receipts within a six-month period. Independent contractors. 10 million.

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LyfeAccounting

NOVEMBER 4, 2020

In today’s post, I’ll be going over everything you need to know about tax filings for your small business and how to stay out of trouble with the IRS. Similar to yourself as an individual, your small business has tax requirements that must be met in order to avoid unwanted penalties and interest from the IRS. Sound good?

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Snyder

JUNE 20, 2022

Get to know small business tax obligations and procedures. In general, business accounting is the process of organizing and analyzing a company’s financial information to plan and advise on taxes, file tax returns, make forecasts, and help with data-driven financial decision making. Open a business bank account.

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LyfeAccounting

JUNE 4, 2021

If you pay yourself too little, you might be overwhelmed by all of the taxes you owe as an LLC. And speaking of taxes, how exactly does that work when you pay yourself? Should it be deducted from your paycheck, paid quarterly at tax time, or what? How Taxes Work for LLC Pay. So let’s begin! How to Pay Yourself as an LLC.

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Ryan Lazanis

SEPTEMBER 1, 2023

If you want to include mileage as a tax deduction, you have to painfully track your business trips. For small businesses today, web-based accounting software takes the cake in terms of ease of use and automation. Say goodbye to traditional double-entry systems. Below are some of the best cloud accounting software for small businesses.

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LyfeAccounting

NOVEMBER 2, 2020

This is because selecting between these two options will determine your tax outcomes for both you and your employees. Because if we’re being honest, your payroll is the number one reason why people would even consider working with you. You’re expected to pay payroll taxes as an employer. retirement contributions.

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ThomsonReuters

DECEMBER 5, 2023

As the end of the calendar year approaches, businesses embark on the crucial task of finalizing their payroll processes. Balancing artificial intelligence As a way to help minimize errors and speed up certain tasks associated with payroll year-end, some businesses are implementing next-generation artificial intelligence (AI).

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LyfeAccounting

JANUARY 19, 2021

The PPP loan is for payroll and other qualified expenses. They may ask for personal tax returns, bank statements, pay stubs, etc. If you cut payroll or make pay decreases, those will likely affect the forgiveness amount of your loan. You just need to show a 30% reduction. Step #2: You must provide your documentation.

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