Payroll Tax Credit for Qualified Small Businesses Increasing Research Activities
Previously, for tax years beginning before Jan. 1, 2023, a qualified small business could elect to claim up to $250,000 of its credit for increasing research activities as a payroll tax credit. The Inflation Reduction Act of 2022 (the IRA) increased the election amount to $500,000 for tax years beginning after Dec. 31, 2022. To […]
Evaluating Your Payroll Provider in the New Year
With 2023 upon us, it’s a great opportunity to look at your business processes, including payroll, to assess your solutions and strategy. Are you unhappy with your current payroll provider? Is the solution lacking the right integrations to make your payroll process more effective? Use the new year as an opportunity to make improvements to […]
6 Payroll Tips to Wrap up the Year
As the end of the year approaches, it is crucial to ensure your payroll year-end information is accurate to help your business and employees prepare for tax season and year-end reporting. Even if you are an experienced pro, it can be easy to overlook items during the year-end crunch time. DM Payroll Solutions has outlined […]
Student Loan Relief Extension and Wage Garnishments: What Employers Need to Know
The U.S. Department of Education (DOE) has announced an additional extension of the federal student loan relief. This comes as the federal appeals court blocked the Biden administration from moving ahead with its student debt cancellation program in response to a lawsuit brought by officials in six states. Payments will resume 60 days after litigation […]
8 Ways to Prevent Payroll Fraud in Your Business
Employee payroll fraud is a challenging issue for many business owners across the country. It occurs when an employee or unauthorized user wrongfully manipulates the payroll system to receive payment they haven’t earned. DM Payroll Solutions shares the different types of payroll fraud, as well as ways to prevent it, to ensure your business doesn’t […]
Recent National Research Study Indicates Support for Same-Day Pay
To those accustomed to receiving a paycheck every couple weeks, getting paid every day might sound like either a dream come true or a troubling temptation. For better or worse, “same-day pay” is becoming an increasingly popular payroll benefit offered by employers. And the results of a recent study indicate that many employees would appreciate […]
Michigan’s Increased Minimum Wage and Paid Sick Leave Pushed to Feb. 2023
Over a week after Michigan Court of Claims Judge Douglas Shapiro ruled Michigan businesses to increase the minimum wage to $12 per hour and offer paid sick leave to workers, he put a pause on the implementation until Feb. 2023 while the case is under appeal. In his July 19, 2022, ruling, Shapiro determined Michigan […]
4 Key Benefits of Integrating Your Payroll and General Ledger
When it comes to your business’s financials, there is a lot for your team to account for. Managing AR and AP within the general ledger is an all-encompassing job in itself! However, there’s still the task of processing payroll wages and incorporating them into your ledger. Historically, payroll and the general ledger have been accounted […]
5 Benefits of Leveraging Pay Cards for Payroll
In an increasingly paperless world, more and more employers are furthering their green initiatives by taking aspects of their business digital. One of these areas of focus is payroll, with employees greatly welcoming direct deposit of their wages to save trips to the bank. However, not every employee is a bank customer and this proves […]