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Payroll

Jun 15 2023
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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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Jun 08 2023
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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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Mar 08 2023
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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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Jan 02 2023
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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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Nov 23 2022
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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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Nov 11 2022
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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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Nov 07 2022
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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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Jul 28 2022
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Final Paycheck Laws Differ by State

By Payroll
When an employee leaves a job for any reason, the employer must follow applicable laws governing how quickly to issue the last paycheck. While federal law does not require employers to issue the final paycheck immediately, some states may require immediate payment. In addition, some states have different final paycheck deadlines depending upon the reason for the employee leaving (i.e., employees who quit vs. being fired or laid off.) In MarathonHR’s primary states of operation…
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Jul 21 2022
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The Pros and Cons of Unlimited PTO

By Benefits, HR, Payroll
Unlimited Paid Time Off (PTO) may sound too good to be true, but it’s one of the latest tactics that employers are using to attract new employees. With unlimited PTO, employees may take off as much time as they wish – for vacation or anything else – as long as they can get their work done and company business isn’t disrupted. The policy can be great for recruiting. A new survey of 2,000 workers by…
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Jun 16 2022
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To Pay or Not to Pay? What Are the Rules Regarding Interns?

By Legal, Payroll, Recruiting
One question that comes up, especially in the summer, is whether interns have to be paid. The Department of Labor (DOL) has issued Fact Sheet 71 to provide employers guidance on this issue. Summer internships can be extremely beneficial for both the company and the intern. To maximize this relationship and remain compliant with the Fair Labor Standards Act (FLSA), employers must pay attention to what is known as the primary beneficiary test – a…
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