In the past, we have written about a variety of requirements and forms, from OSHA form to payroll and other accounting documentation. Today, we’ll cover some general guidance related to payroll recordkeeping. This task isn’t easy—although the requirements of the Fair Labor Standards Act (FLSA) are straightforward, other state and federal laws can be complicated and confusing. Additionally, most of them change from time to time. As with so many workplace laws, one principle overrides…
The end of any year is always challenging, between juggling personnel holiday vacation schedules, preparing year-end paperwork, and making adjustments for the upcoming year. From Affordable Care Act compliance and reporting to adjusting compensation strategies, there is no shortage of things to do. In case you are overloaded or running behind this year, here’s a handy list of items to review and determine if you have outstanding work for any of them. To simplify things,…
It’s always amazed us at MarathonHR how many restaurants—even fairly large ones—don’t have a Human Resources (HR) department, or even an HR professional on staff who handles payroll, workers’ comp claims, and other issues that restaurants face. They also may not outsource any of their HR functions to another firm. In the most bare-bones situations, the owner does it all. We have worked with a lot of restaurants and have seen, firsthand, that not having…
“Punching the clock” has long been a euphemism for “going to work,” since it comes from the practice of personnel “punching in” by sliding timecards into a mechanical device. Salaried employees may not need to “punch in and out,” but for hourly employees, it’s the only way to measure their time and ensure they are paid accordingly. However, older mechanical time clocks aren’t always accurate and are susceptible to “buddy punching.” Additionally, processing their time…
The Tax Cuts and Jobs Act has taken effect and you and your employees may have noticed a change in take-home pay. This happened because the marginal tax rate dropped for the average individual, but that doesn’t mean they can keep the extra money. If most of your employees received an increase in their pay, it might be prudent to caution them not to celebrate, just yet. An increase in take-home pay will not necessarily…
As the year draws to a close, company personnel charged with record-keeping should collect their corporate health insurance information in preparation for W-2 and other tax form reporting. (MarathonHR clients should send this information to us as soon as possible.) For S-Corporations (S-Corps), this information should be segregated by payments made to employees, and their spouses and dependents (which are not wages and are therefore not subject to withholding), and payments made on behalf of…
In the past, we have written about a variety of requirements and forms, from OSHA form to payroll and other accounting documentation. Today, we’ll cover some general guidance related to payroll recordkeeping. This task isn’t easy—although the requirements of the Fair Labor Standards Act (FLSA) are straightforward, other state and federal laws can be complicated and confusing. Additionally, most of them change from time to time. As with so many workplace laws, one principle overrides…
Until this year, employers had two dates to keep in mind when preparing 1099’s and W-2s. Beginning with 2016 forms, employers will now have one filing deadline for all Federal information returns – January 31, 2017. This applies for both employee and agency copies, or whether filing paper or electronic returns. The state of Georgia has also adopted the new January 31 filing deadline. You also need to know that the penalties for missing the…
The U.S. Department of Labor (DOL) is close to making a final decision regarding salary levels eligible for overtime pay exemptions. The anticipated outcome is expected to more than double the current annual exemption level of $23,660 to somewhere between $47,000 and $50,000. This change is expected to impact many people including executives, administrators and professionals. For this reason, the new policy is often referred to as the “white-collar exemption.” Employees newly classified as nonexempt…
A Taxpayer Identification Number (TIN) is an identification number used by the IRS in the administration of tax laws. It is issued either by the SSA or by the IRS. A Social Security number (SSN) is issued by the SSA and all other TINs are issued by the IRS. U.S. citizens and lawful aliens must use a SSN on their employment tax forms. Nonresidents and resident aliens may have an Individual Taxpayer Identification Number (ITIN),…
Buffalo's Cafe Ends Human Resources Headaches;