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Your Guide to Year-End 2023: Bonuses

ThomsonReuters

As the holidays approach, many employers plan on paying out bonuses, incentives, or other supplemental wages to employees that may have unexpected tax and compliance implications. Payroll Guide ¶ 4100 et seq. Paying out bonuses Employers have several options when it comes to paying out bonuses.

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Top 20 Searches of 2021 on Payroll on Checkpoint

ThomsonReuters

The top payroll related searches for 2021. Payroll practitioners and employers alike continue to be challenged by the unique issues that COVID-19 has imposed on payroll administration. Payroll on Checkpoint has analyzed the searches of our subscribers to create this Top 20 list of topics in the forefront in 2021.

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Pay Frequency Subject of New National Research Study

ThomsonReuters

A new national research study that analyzed the impact of same-day pay showed that, among other things, over 60% of working Americans think that all employers should offer their employees immediate access to their daily earned wages. Pay frequency. At the federal level, there are no pay frequency requirements.

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How the “Wild West” of Tax Preparation Led to Massive ERC Issues

ThomsonReuters

These warnings continued with more frequency and even made the top of the IRS’s 2023 “ Dirty Dozen ” list of tax scams. ” To learn more about how Checkpoint’s payroll solution can help your business, visit  [link]. “Because I don’t think many business owners understand that there is risk here.”

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What is IRS Form 941?

ThomsonReuters

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. Federal law requires employers to withhold certain taxes from the pay of employees.

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Frequently Asked Questions About Salary and Dividends by Owners of Corporations

Ronika Khanna CPA,CA

As an accountant and small business financial consultant, one of the most common areas of confusion and questions by small business corporation owners revolves around how to pay themselves and if one way is preferable to another. They are not required to pay EI on their salaries nor are they entitled to claim benefits.

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Work from anywhere with these new updates to our Xero apps

Xero

Save time on payroll and expense management Xero Me is a one-stop shop for employees to view their payslips, as well as submit timesheets, leave requests, expense claims and more. It means you spend less time chasing staff for information, and have the information you need to reimburse expenses and do accurate pay runs.