You probably know that it costs less to use an independent contractor than to have an employee on staff. The reason: the cost of payroll taxes, along with insurance and benefits, apply only to employees. But don’t think you can simply reclassify a worker who’s been your employee as an independent contractor. The IRS, as well as other government agencies, are on the lookout for just such action.
Family medical leave became law in 1993 when the federal Family Medical Leave Act (FMLA) was passed. It provided 12 weeks of unpaid, job-protected leave to care for newborns or seriously ill family members for employees who have worked at least a year for an employer with 50 or more employees. Since then, the American workforce has changed significantly, and these provisions do not meet the current needs of most family units. As a result, many states have passed or are considering legislation to…
The gig economy differs from the world of traditional full-time jobs that consist of the basic 9 to 5 schedule to employees who prefer temporary and flexible jobs. Gig workers are individuals who pursue these types of jobs, often applying for a temporary independent contractor or freelance position. Many of these employees prefer to work on their own flexible schedules in various environments.
With increased concerns regarding the security of employees' information, biometrics can be used in payroll management to streamline compliance with wage and hour laws and to limit access to secure systems.
Earlier this year, the U.S. Department of Labor’s (DOL) Office of Public Affairs officially responded to whether employers could pay employee wages in cryptocurrencies. The DOL explained that regulations under the Fair Labor Standards Act (FLSA) provide that wage payments may be made in cash or negotiable instruments (payable at par). In cryptocurrency, employers cannot make base wages (salaries or minimum wages) or overtime pay. Paying bonuses and other incentive payments in cryptocurrency is a…
eFiling Thresholds, Revisions To Form 941 and Schedules, Form 941-X, Idaho Revises Withholding Tables, Reduces Supplemental Wage Tax Rate and California Supreme Court Rules Premium Pay for Missed Meal; Rest Breaks Are Wages
To build efficiencies in the payroll process by eliminating paper checks, employers have used direct deposit since the mid-'70s. This effort to eliminate paper checks was always limited because many employees had no bank accounts. Since ATMs appeared, the ability to pay employees via a paycard has slowly become available.
Aatrix Announces The Integration Of Its Complete Payroll Tax Reporting And Payment Solution Into Innovative Systems.
Employers have reporting requirements when adding a new employee to their staff. In addition, there are a number of optional authorization, verification, and internal forms to be completed that can impact payroll administration.
Certified payroll is a special weekly payroll report using Form WH-347 that contractors who are working on projects that are government-funded. Employers are required to complete and submit these reports to prove they are paying workers the prevailing wage. Many states and city governments have adopted the certified payroll requirement to assure contractors are paying an appropriate wage to their workers.