Category

Recordkeeping

Reporting of Company-Paid Health Insurance—and an S-Corp Reminder

By Benefits & Insurance, Best Practices, Payroll, Recordkeeping

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. 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 officers, owners or employees who own more than two percent of the…

Read More

Complying with Payroll Recordkeeping Requirements

By Best Practices, Payroll, Policies and Procedures, Recordkeeping

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…

Read More

Family Medical Leave Act Forms Extended through 2021 – Are They Ready to Use?

By FMLA, Pregnancy Leave, Recordkeeping, Sick Leave

The U.S. Department of Labor (DOL) has announced that its Family and Medical Leave Act (FMLA) certification forms and notices are valid for three more years, until Aug. 31, 2021. (The DOL must submit its FMLA forms to the Office of Management and Budget for approval every three years to ensure the FMLA certification and notice process isn’t too bureaucratic.) In late August 2018, seven forms were certified. The DOL didn’t make any substantive changes to the forms,…

Read More

Is It Time to Retire Your Mechanical Time Clock?

By Payroll, Recordkeeping, Uncategorized

“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…

Read More

Complying with Payroll Recordkeeping Requirements

By Best Practices, Payroll, Policies and Procedures, Recordkeeping

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…

Read More