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Payroll

Select the Right PEO for Your Business

By HR, Payroll

Business owners often realize that the daily administrative tasks related to human resources (HR) have become too complex to manage or are taking up too much time. A professional employer organization (PEO) like MarathonHR can allow you to outsource your HR functions to a “co-employer.” In a PEO arrangement, responsibilities are shared; the business remains the “Job-Site Employer” and the PEO becomes the “Administrative Employer.” The advantage of the PEO relationship is that small- to…

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The 80/20 Tip Credit Rule Still Stands

By HR, IRS, Legal, Payroll, Tips

In July, a federal court refused to block the U.S. Department of Labor (DOL)’s “80/20 rule,” which applies to employers taking the tip credit toward their federal minimum wage obligations. The DOL rule is intended to limit the amount of non-tip producing work that a tipped employee can perform when an employer is taking a tip credit. Here is a good article on the 80/20 rule from Fisher Phillips that restaurant owners should read to…

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Are Advanced Biometric Time Clocks Worth the Investment?

By HR, Payroll, Workplace Safety

MarathonHR offers an array of convenient and accurate timekeeping options for clients. As part of our services, we provide timeclock packages and a desktop app for clocking in that doesn’t require the employer to purchase special software. For employers who wish to use a physical device, biometric timeclocks are a popular option. What are Biometric Timeclocks? Biometric timeclocks are physical, electronic devices that capture unique identifiable features from employees when they clock in and out….

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What Does it Truly Cost to Run Payroll?

By Payroll

One of the many tasks business owners must tackle at the start and every week thereafter. When looking for ways to balance budgets and cut corners, exploring the real cost of running payroll appears often. Small and midsized business (SMB) owners must decide which payroll “system” is going to work for them. Some of the options include: A Do-it-Yourself (DIY) approach where the business owner learns to do payroll themselves, directing their time from business…

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Preparing for an Increase in the Minimum Wage

By Minimum Wage, Payroll

The federal government’s proposed Raise the Wage Act would increase the national minimum wage to $15 per hour. While proponents believe that a $15 per hour minimum wage would lift nearly 1 million people out of poverty, others say that it would only hurt small and midsized businesses (SMBs), which make up the majority of American employers. Impacts of a Higher Minimum Wage As we’ve covered before, wage increases may cause problems for SMBs. A…

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Qualifying for the Employee Retention Tax Credit Due to Hardships from Local Regulations

By Payroll

Business owners are wondering if they can still claim the Employee Retention Tax Credit (ERTC) under the CARES Act if they suffered a loss in revenues due to COVID-19. In particular, MarathonHR has received a number of questions about possible new ways to qualify. As a reminder, the ERTC was created to help businesses keep employees on their payroll during the COVID-19 pandemic and provide some financial relief. The ERTC is a refundable tax credit…

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Recordkeeping Reminders for FLSA

By Legal, Payroll

It’s a good idea to periodically revisit recordkeeping requirements under the Fair Labor Standards Act (FLSA). Every employer covered by the FLSA must keep certain payroll records for each covered, nonexempt worker for at least three years. It’s in an employers’ best interests to keep as much detailed information as possible to demonstrate compliance with the FLSA’s provisions regarding minimum wage, overtime, equal pay and child labor. What kind of information do I need to…

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Inflation and cost-of-living adjustments (COLAs) are driving payroll changes coming for 2023

By Legal, Payroll

Changes include: Flexible Savings Accounts (FSAs)/Health Savings Accounts (HSAs) Next year, employees can put an extra $200 into their FSAs/HSAs, with the annual contribution limit rising to $3,050 (up from $2,850 in 2022). Employers should make sure that their plan documents, summary plan descriptions and election forms disclose this change to employees. QSEHRAs Allowances for qualified small employer health reimbursement arrangements (QSEHRAs) increased to $5,850 for individual coverage (an increase of $400) and $11,800 for…

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Businesses Shouldn’t Bear Costs When Switching Payroll Systems

By Payroll

Switching from one payroll software or provider to another is a major decision that can have a significant impact on a company and its employees if not handled correctly. When it comes to the cost of changing payroll systems, the burden should really be on the software or payroll provider to make the transition as seamless as possible for the employer. Migrations that don’t go well can result in: Lost productivity. When migrating from one…

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Employer Responsibilities for Tip-Based Compensation

By Payroll

If you employ people in positions that commonly receive tips or gratuities, it’s important to stay abreast of your responsibilities as an employer. Requirements for taking tip credits The current federal minimum wage is $7.25 per hour; employers may claim a tip credit to pay $2.13 per hour if employees make up the difference through tips. If an employee doesn’t make enough in tips to reach minimum wage, the employer must make up the difference….

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