A State-by-State Guide to 2021 Anticipated Minimum Wage Raises
While 2020 has been a year full of unexpected changes, one thing that has remained constant is the federal minimum wage. The last time it changed was in 2009 when the wage increased from $6.55 to $7.25, and it is expected to remain the same for the immediate future. No matter the federal minimum wage, […]
New Relief Package Will Bring Expanded Employee Retention Credit, Stimulus Payments and More
Congress has finally settled on a new COVID-19 stimulus legislation – The Emergency Coronavirus Relief Act of 2020, which expands the employee retention credit, extends various expiring tax credits, distributes stimulus payments and allows the deductibility of Paycheck Protection Program (PPP)-funded expenses, even if forgiven. The $900 billion bill, the second-largest next to the Coronavirus […]
The Top 3 Perks of Employee Self-Service Platforms
Your HR manager’s role knows no bounds, from onboarding new employees to updating employee information to creating company communications. One of the more tedious parts of the job is managing mountains of paperwork for these aforementioned events and keeping accurate records. If this is a pain point in your business, it may be time to […]
DOL’s New Interim Final Rule Protects American Workers’ Wages
The U.S. Department of Labor (DOL) has recently issued a new interim final rule that reforms the current methodology used in multiple foreign worker programs, therefore protecting the wages and job security of American workers. After a lengthy review of the Permanent Employment Certification and visa programs, the DOL decided the present wage approach can […]
Why Employers Should Advise Their Employees to Use the IRS’s Tax Withholding Estimator
The Internal Revenue Service (IRS) is urging employers to encourage their employees to use its tax withholding estimator when filing their 2020 tax returns. The estimator is an effective tool when it comes to calculating taxes as well as avoiding any future surprises when it comes time for tax season. While there are still months […]
Creating a Post-Pandemic Compensation Strategy
One of the most complicated challenges to navigate amongst the nationwide COVID-19 shutdown is making decisions about employee pay. Since the pandemic is truly the most unprecedented event in our lifetime, there are no set instructions or past experiences to explain how employers should proceed, especially with something as sensitive as pay. However, all employers […]
Don’t Underestimate the Human Component of Payroll
When it comes to managing your company’s payroll processing, the task has historically been considered as a back-office, administrative role. However, your payroll manager has the significant task of serving your business’s most important asset: its people. Given payroll’s transactional nature, if you don’t have an effective payroll solution in place, it may be difficult […]
How to Report Your Employees’ Paid Leave Amounts Under FFCRA
The Internal Revenue Service (IRS) recently issued Notice 2020-54 detailing how employers must report the amount of emergency sick leave wages as well as expanded family leave wages paid to their employees under the Families First Coronavirus Response Act (FFCRA) within the time period of Apr. 1, 2020 and Dec. 31, 2020. DM Payroll Solutions […]
How Long Should You Keep Payroll Records?
As a business owner, keeping tight payroll records is imperative. However, can you confidently say which records your business needs to keep and for how long? While your company grows and you hire more and more employees, you likely will run out of room (physical and/or virtual) to house each employee’s individual paperwork. After awhile, […]