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 […]

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 […]

For many business owners, the idea of outsourcing any task when it could be handled in-house is seen as an unwarranted expense. However, when you take into account something as crucial and compliance-focused as your organization’s payroll, this couldn’t be more false. No matter if your company is a start-up or a multi-location corporation, outsourcing […]

Under some circumstances, an employer that sponsors a 401(k) might wish to amend its plan to exclude part-time employees and offer the benefit only to full-time staff members. Is such an approach allowed under the rules for qualified plans? Coverage and Service Rules Employers have considerable freedom to decide which categories of employees can participate in […]

If you administer a 401(k) plan to your employees, you know it’s centered around payroll deductions. However, there’s much more to it than that, including tracking employee eligibility, keeping records of both employee and employer contributions, calculating and depositing contributions, and reporting payroll data each pay period. On top of these important tasks, business owners […]

The Internal Revenue Service (IRS) recently released its 2023 maximum contribution levels for health savings accounts (HSAs) and out-of-pocket spending limits and deductible minimums for high deductible health plans (HDHPs) that must be used in tandem with HSAs. The IRS also announced the maximum amount that can be made newly available for excepted benefit health […]

Employers that sponsor a health care plan know they must comply with various provisions of the Health Insurance Portability and Accountability Act (HIPAA). One of these is that you must notify all persons from whom you collect medical information — whether directly or indirectly (such as when filling a prescription) — of their rights to […]

Form I-9, “Employment Eligibility Verification,” is used to verify the identity and employment authorization of individuals hired for employment in the United States. As you’re no doubt aware, all U.S. employers must properly complete a Form I-9 for everyone hired, including citizens and noncitizens. Both employees and employers (or authorized representatives of an employer) need to fill […]

On March 10, 2022, the U.S. Department of Labor (DOL) released guidance containing specific examples of what it considers “unlawful retaliation” by employers under the Fair Labor Standards Act (FLSA), the Family and Medical Leave Act (FMLA) and visa programs. DM Payroll Solutions shares details from the recent guidance to learn how you can practically apply it […]

Pay equity is both required by law and a sound business practice. However, providing equitable compensation to employees who perform the same or similar jobs, while accounting for differences in experience and tenure, isn’t easy. That’s why every company should at least consider undertaking a pay equity audit to assess its compensation philosophy and approach. […]