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Tag: payroll

Questions About Remote Work and Payroll: A Q&A with Wiss’s Outsourced Payroll Manager Laura Melville

By Lisa Calick Series introduction: In this four-part Q&A series, Senior Professional in Human Resources (SPHR) Lisa Calick speaks with experts from Wiss to learn about the challenges that clients face due to the changes in work arrangements and culture as a result of the pandemic.   As a Senior Professional in Human Resources (SPHR), I spend my days giving human resources advice to Wiss clients, helping them with everything from benefits inquiries to staying in compliance with...

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IRS Issues Guidance Addressing President Trump’s Order on Payroll Tax Deferral

By Michael Bodrato Presidential Memorandum On August 8th, President Trump signed a Presidential Memorandum to direct the Treasury Secretary to use his authority to defer the withholding, deposit and payment of certain payroll taxes from employees suffering under the economic hardships brought about by the Coronavirus Pandemic.  The President’s order is made applicable to wages and compensation paid during the period of September 1, 2020, through December 31, 2020, and is subject...

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Today’s Software Solutions Vastly Improve HR Staff Productivity

Updated 7/30/2019. I recently visited a client company with over 750 employees. The HR staff kept track of vacations on a spreadsheet. Anyone considering taking time off would first call up some poor overworked HR rep and see how many days they had remaining. That rep would have to then manually update the remaining totals. I have to imagine that was pretty much how that staffer spent his or her summer months at work. This same company had a total of about ten spreadsheets keeping...

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HR & Payroll Year End Readiness

By Lisa Calick, Carolyn Hall, Floriana Allen, and Laura Melville The end of the year can be busy for many companies.  While December brings holiday parties and end-of-year celebrations, business owners should be mindful to make sure their HR and payroll departments are on top of timely actions in order to ensure a smooth transition into the New Year.  This checklist will help you get a jumpstart on your year-end planning. Human Resources Review your employees’ data to make sure...

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FASB Issues Update for Nonprofit Organizations

By Vanessa Munoz In an effort to improve financial reporting for nonprofits, the Financial Accounting Standards Board (FASB) is implementing various changes.  Among these changes are how expenses are being reported. Current Guidance When it comes to financial reporting, many nonprofit organizations are only required to provide expenses by their nature (i.e. salaries, travel, rent, etc.). However, voluntary health and welfare organizations are also required to present a statement...

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Changing Overtime Rules? New Recommendation Could Change Who Qualifies

By Laura Melville Under current regulations, employees are exempt from overtime pay if they meet three criteria: the employee must be salaried, perform executive, administrative or professional duties, and earn more than $455 per week, or $23,660 per year. The current salary threshold was enacted in 2004. But that salary threshold could be increasing, as the U.S. Department of Labor last year recommended raising the salary criteria to $913 per week, or $47,476 per year. (The rule...

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Fraud Prevention – A Necessary Evil

By Timothy Kennedy, CPA Do you trust your bookkeeper? This is a question you have to ask yourself periodically. Not only do you want to feel confident that they wouldn’t steal from you, but you also want comfort in knowing that they can properly journalize and manage the accounting information that comes through the door each day. Poor accounting record maintenance and overall sloppy accounting by a lackluster bookkeeper can take you to the point of no return—and force your hand...

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