Unveiling Phantom Employees & Its Costly Payroll Impact
The concept of a “phantom employee” is one that all business owners and HR professionals should be aware of. Phantom employees could be as innocent as individuals who have passed away and accidentally kept in the payroll system, but they are most commonly fraudsters manipulating the payroll system. This issue can arise due to administrative […]
Streamlining Operations Through Payroll Integrations
In today’s fast-paced business environment, efficiency is key. As companies strive to optimize their operations and reduce administrative burdens, one area that can significantly benefit from being streamlined is payroll. Integrating payroll with other business systems can transform how your business handles its finances, employee management and compliance. Payroll integration is the process of connecting […]
5 Common Misconceptions of a Midyear Payroll Switch
Are you dissatisfied with your payroll provider but worried about the complexities of switching to a new one? Many businesses believe the only time they can change payroll providers is the end of the calendar year and running their first payroll in January. The truth is, the middle of the year can also be a […]
Understanding Payroll Tax Penalties and How to Avoid Them
Payroll tax penalties are an avoidable business expense, however, each year many organizations shell out thousands for them. These penalties are caused by incorrect calculations, missed deadlines and improper reporting. Employers can minimize these expensive mistakes with a robust payroll process. As your business grows in size, payroll requirements can become more complex, often making […]
New Overtime Rule Takes Effect – Challenges Take Place Across Country
As of July 1, 2024, millions of salaried U.S. workers are now eligible for overtime pay, thanks to the new overtime rule that went into effect. Salaried workers earning less than $43,888 a year qualify for 1.5 times pay if they work more than 40 hours a week. These changes may impact your payroll processes […]
7 Common Payroll Risks for Small to Mid-Sized Businesses
When reviewing your business operations, sometimes the areas running smoothly can be overlooked. Don’t become complacent. This can threaten the smooth functioning of payroll processes, potentially leading to costly errors, legal issues and compromising the trust of your employees. To help safeguard against these risks, our payroll pros recommend conducting an annual payroll audit to […]
Payroll Fraud Prevention: 8 Strategies to Protect Your Business
Payroll fraud is a serious threat that can have detrimental effects on businesses of all sizes. From small enterprises to large corporations, no organization is immune to the potential risks associated with payroll fraud. This illicit activity can result in financial losses, damage to the company’s reputation and legal consequences. To help combat this, our […]
IRS Announces Decrease in ESR Penalties for 2025
The IRS announced a decrease for 2025 to the applicable dollar amount used in calculating employer shared responsibility (ESR) payments under the Affordable Care Act (ACA). For 2025, the ESR payment amounts will be $2,900 for failing to offer minimal essential health care coverage and $4,350 for failing to offer affordable minimal essential health care, […]
The Role of Automation in Modern Payroll Processing
In the dynamic landscape of business where innovation is the name of the game, payroll processing has undergone a significant transformation with the integration of automation. Gone are the days of tedious manual calculations and paperwork; automation has emerged as the unsung hero, streamlining processes and enhancing efficiency in payroll management. Traditionally, payroll processing involved […]