You think it’s time for a change in your payroll system, so where do you start? These kinds of decisions are not made lightly, and usually not quickly. It starts with understanding that there is a need for change. If our team fails to see the need, change will be met with resistance at [...]
Like many companies today, we have decided it's time to make the switch to the cloud. We've decided to document our journey in order to help others who are considering the move as well. Follow along with our multi-part series about our migration from Dynamics GP to Business Central. Where did our time with [...]
Payroll compliance is vital for HR teams and business owners. Fail to stay on top of it and you could see serious fines or penalties coming your way. Let’s dive into how to stay safe with the Affordable Care Act (ACA) Employer Mandate Compliance, tracking sick time, and COVID-19 Compliance in Dynamics GP. 3 [...]
Payroll compliance is vital for HR teams and business owners. Fail to stay on top of it and you could see serious fines or penalties coming your way. You also need to make sure you’re following procedures to ensure your employees are treated fairly. Having proper documentation in place will make getting to the [...]
On August 8, 2020, President Donald Trump signed an executive memorandum directing the U.S. Department of the Treasury to put in place an IRS payroll tax deferral obligations (Social Security and Medicare) amid the ongoing COVID-19 pandemic for wages paid to individuals between September 1, 2020 and December 31, 2020. IRS Guidance on the [...]
The IRS has worked diligently to modify Form 941 to accommodate the changing laws around the COVID-19 pandemic. As of July 1, 2020, the IRS finalized the 941 Quarter 2 form. The form and instructions were posted just in time for employers’ federal tax returns for quarter 2 filings (which have a due date [...]
Whether they deal with it internally or outsource, payroll has historically been a large cost area for businesses. Ensuring accuracy, dealing with adjustments and paid leave, and complying with regulations is a complex, ever-changing process. However, modern software solutions are benefiting companies by bringing payroll in-house and connecting their payroll to their ERP solution [...]
Are you up-to-date with the 2020 tax changes? Complex payroll administration is a major headache for many growing businesses. To help you out, we’ve summarized a few of the tax changes that may affect you this year. Federal Payroll Tax Updates for 2020 The minimum salary level for White Collar exemptions increased from $455/week [...]
Last updated June 10, 2020 President Trump signed into law the Coronavirus Aid, Relief, and Economic Security (“CARES”) Act on March 27, 2020. Also called, the coronavirus stimulus bill, the CARES Act provides fast and direct economic relief for businesses and individuals that have been negatively impacted by COVID-19. The price tag for the [...]
Last Update 7/7/2020 – We are continuing to monitor and update this blog as information is released. On March 31, the IRS released a series of FAQ’s and information regarding the Coronavirus Aid, Relief, and Economic Security (CARES) Act. Most importantly, they released some information regarding the employer tax credits associated with this Act. Note [...]