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Most employers are required to comply with equal employment opportunity responsibilities. These responsibilities ensure that you do not discriminate against employees because of their race, color, religion, sex, national origin, age, disability, or genetic information. The U.S. Equal Employment Opportunity Commission (EEOC) enforces federal laws related to workforce discrimination. The EEOC has resources where you […]
When you have a business, you need a way to identify it. That way, you can submit payroll forms or tax returns, open a business bank account, establish a retirement plan, and more. So, how do you identify your business? You need a taxpayer identification number (TIN). Read on to learn what is a taxpayer […]
Read More What Is a Taxpayer Identification Number?
When an employee becomes unemployed, they might qualify to receive unemployment benefits. Unemployment benefits are funded by unemployment taxes, which are paid based on employee wages. But who pays unemployment tax? You or your employees?
Read More Who Pays Unemployment Tax?
If your employees receive tips, it is important to remember that tip income is taxable. Employees must report all tips they receive, and you must withhold payroll taxes on tips.
Read More How to Withhold Taxes on Tips
Sometimes, an employee might pay for a business expense out of their own pocket. When that happens, you can reimburse the employee. An employee expense reimbursement does come with some complications. Are reimbursements taxable? Do you need to report the reimbursement? Find out below.
Read More Are Reimbursements Taxable?
Payroll compliance isn’t a once-per-year task you can easily check off. Remaining compliant is a big job. You must make sure your business is compliant with all payroll laws year-round. You can make payroll compliance easier and less stressful by doing tasks throughout the year. In fact, there are some tasks, like filing taxes, that […]
Read More The Payroll Compliance Checklist You Need to Use
A handful of cities in Colorado have a local tax called an occupational privilege tax. Both employees and employers owe it. If you’re an employer in Colorado, it’s important to know if you owe the occupational privilege tax and what your city requirements are.
Read More A Breakdown of the Colorado Occupational Privilege Taxes
For some business owners, running payroll might be like learning a foreign language. You are a master of your business idea, not the administrative responsibilities that come with it. Because you might not be familiar with these responsibilities, you might have some payroll questions.
Read More Answers to 18 Payroll Questions You Are Dying to Ask
If you’re an employer in the state of New York, you may have heard of the Employer Compensation Expense Tax (ECET) that started in 2019. But, did you know that the ECET, established by the Employer Compensation Expense Program (ECEP), is optional? Although you aren’t required to pay the ECET, you may choose to do […]
Read More The Lowdown on New York’s ECEP Tax
Self-employment is part of the American dream for many. To do what you love and get paid for it can be incredibly rewarding if handled properly. However, one of the factors that needs to be considered is self-employment tax — which is a necessary evil when you are doing what you love!
Read More Do I Have to Pay Self-Employment Tax?
Businesses can be categorized as nonprofits or for-profits. When it comes to payroll taxes, for-profit businesses have it pretty straightforward. For-profits pay payroll taxes. But for some nonprofit organizations, it’s not as simple. Do nonprofits pay payroll taxes?
Read More Do Nonprofits Pay Payroll Taxes?