Payroll: US

You’ve probably heard the term “working on commission” and have a general sense of what it means, but what is commission pay really? Whether you’re a business owner that’s considering this pay structure or not, it’s helpful to get to know what it is in case an employee asks about it. You may even decide […]

A year can be divided in multiple ways: 52 weeks, 365 days, or 12 months. This means there are different payroll schedules that a business owner can follow — weekly, bi-weekly, semi-monthly, or a combination of a few. How do you know which payroll frequency is the most optimal for your business? While there are […]

When it comes to protecting your personal and business information, there are a number of approaches to get the job done. For example, simple solutions like updating your password to be more complex or reviewing payroll reports can help you prevent fraud and catch suspicious activity on your account before it’s too late. At Wagepoint, […]

At Wagepoint, we’re in the business of making your life easier by making sure payroll runs seamlessly. We know that paying your employees on time is top priority so we’ve put together a list of our very favourite Wagepoint features you might not know about, including easy how-to video demos! We’re confident these easy-to-set up […]

Payroll can mean completing a lot of scary tasks for small business owners — like making the right calculations and filing taxes correctly and on time to the government. On top of that, consider needing to make corrections during a busy year-end season! Now that sounds like a real nightmare. As the old adage goes, […]

On January 27, 2021, Ian Vacin, Chief Customer Officer for Karbon, and Rachel Fisch, Strategic Advisor to Wagepoint held a webinar (online discussion) on the topic of “How compliance leads to advisory.” The truth is, you can’t have one without the other. Especially when it comes to small business payroll. As an accountant or bookkeeper, […]

Starting with tax year 2020, Form 1099-MISC (Miscellaneous Income) has been replaced with Form 1099-NEC (Nonemployee Compensation). Employers no longer need to report non-employee compensation, such as payments to independent contractors, on Form 1099-MISC. Read for more information on the difference between Form 1099-NEC and Form 1099-MISC. Diving into W-2s and 1099s. It’s almost the […]

When the pandemic came on the scene, it shook the world — from small businesses to government agencies. During CPB Canada’s Ignite 2020 event, we hosted a breakout session to discuss with our accounting and bookkeeping friends the role that payroll played in helping small business owners navigate through this year and going forward. Note: […]

Regardless of who you hire, you need to properly define the working relationship. You need to know what classifies someone as an employee or contractor and which of those factors makes the most sense in terms of your business needs and the needs of the person or people you’re hiring.

As a business owner, you want to focus on what your employees can do for your business — rather than getting bogged down by the nitty-gritty of paying them. How often is your mind centered around administrative responsibilities like payroll? Have you ever incurred interest and penalties from payroll errors? When details, like income types […]

There is no question that payroll is one of the most important aspects of a construction business that needs to be managed effectively. The sheer size of construction projects, as well as a slew of tax regulations, make construction payroll a complex process. Plus, with a large workforce, payroll can be time-consuming and stressful. A […]

This post is intended for US employers. Click here for the Canadian version. Letters from the IRS are never fun. What makes it worse is not knowing why you got one in the first place. When it comes to payroll tax payments and potential fees, you want to get to the heart of the issue […]

FICA is a four-letter acronym — short for Federal Income Protection Act. One of the impacts of this act on small businesses is that it requires that employers withhold (deduct) specific amounts for Social Security and Medicare from their employees’ paychecks. This has to happen every time payroll is processed, which can be a challenge […]

Payroll taxes, deductions, exemptions — the difference between a contractor and an employee. It’s a lot to take in and a lot to keep track of. This is why we wrote it all down in our guest post for HR.com’s HRIS and Payroll Excellence Essentials publication — What Every Payroll Compliance Checklist Should Include.

Tips represent a significant portion of a worker’s income in the restaurant and hospitality industries. As tipped income is considered taxable income, both employees and employees have specific reporting requirements. Learn about the IRS tip reporting guidelines in this post, written for the Toast Restaurant Management Blog.