Manually calculating the taxes above can be time-consuming and daunting. Symmetry Software provides the tools and expertise needed to avoid payroll mistakes and make payroll the best part of any company’s week.
Location accuracy in payroll is crucial for many different reasons. If an employee is not set up correctly upon onboarding, employers can be fined, subject to audits, and have a stressful tax season with W-2s
The Washington Governor has officially signed legislation delaying the Washington Long-Term Care Program and tax collection to July 1, 2023.
Common payroll problems can be easily solved with the cutting-edge technology found in the Symmetry Tax Engine, the leader in payroll tech.
Taking effect on January 1st, 2022, employers in the state of Louisiana will not be required to withhold Louisiana income tax from the wages earned by nonresident employees for services performed within Louisiana unless the nonresident employee spends more than 25 days performing employment duties for the employer in the state.
Recently, Washington State announced a first-of-its-kind plan to provide long-term care benefits to Washingtonians. Benefits will be available to eligible recipients beginning January 2025 for up to $36,500 in lifetime benefits.
During the pandemic, some states adopted special rules for telecommuters to ease the tax rules. As telecommuting may become more popular, it is essential to know that it can cause unexpected tax consequences for both the employee and the employer.
Employers who elected to defer their employees’ taxes were instructed to withhold and pay the deferred taxes during the beginning of the year. However, this period has recently been extended.
The IRS is diligently working on sending out the second stimulus payments of 2020 to eligible recipients. Find out where your stimulus payment is with these tools and resources.
Recently the IRS released the 2021 Form W-4, Employee's Withholding Certificate, and the 2021 Publication 15-T, Federal Income Tax Withholding Methods. The updates in these forms include more vocabulary in the directions to help users understand how they should complete these forms.
Whether it is through an employer offering or as an individual, any Oregon resident has access to a state provided retirement savings plan, OreganSaves. Of course, contributing to an OregonSaves Roth IRA has many benefits, as well as some consequences.
Seattle's Payroll Expense Tax will begin on January 1, 2021, and continuing to December 31, 2040, applying rates ranging from 0.7% of payroll expenses up to 2.4% for companies with the highest payroll expenses. First reporting for employers will begin on December 31, 2023.
On August 8, 2020, President Trump signed the Memorandum on Deferring Payroll Tax Obligations to provide the American workforce with additional relief during COVID-19.
As many medical professionals cross state lines to enter and help critical areas hit by COVID-19, payroll professionals can’t help but ask, “are they going to be hit with unexpected state income taxes?” On June 18, 2020, U.S. Senators John Thune and Sherrod Brown introduced S. 3995, the Remote and Mobile Worker Relief Act of 2020.
As IRS employees return to work, they are returning to piles of mail. As they send out notices that were printed before stay-at-home orders were set in place, taxpayers should be prepared.
Non-resident income taxes are not the majority of income taxes in many states, however, others rely heavily on them.
On August 6, 2019, the IRS launched a new Tax Withholding Estimator to help taxpayers determine the correct amount of tax that should be withheld from their paycheck this year. We must say this Estimator is a significant improvement compared to the previous one!
Same-day ACH processing has been delayed to March 19, 2021.
The State of Oregon Employment Department will be releasing the Oregon Payroll Reporting System later this year.
Here are some of the most common payroll mistakes and techniques to avoid them.
A paycard is a prepaid payroll card that acts like a debit card in lieu of traditional pay methods. Consider highlighting these ideas when presenting the option of paycards.
The day you process payroll is stressful - but it doesn't have to be with these nine tips to make it easier.
Capped wages are a limit on a employee's salary enforced by the government, while maximum wage is a wage ceiling imposed on how much an employee can earn in a given pay cycle.
Underpaying an employee can result in legal action by the employee, while an employer is entitled to regain wages after overpaying an employee.
Social Security benefits are subject to taxes in certain states, and not subject to taxes in others.
Manually calculating payroll is an option for some employers - especially small businesses - and involves easy math.
Location accuracy improves compliance, preventing audits and saving you thousands of dollars every year and is achieved through geocoding processes.
The most common methods to determine an employee's withholding from a paycheck are the wage bracket method and the percentage method - all based on what your employees enter on their W-4s.
The Tax Cuts and Jobs Act suspended personal exemptions for the Federal W-4.
Paycards are shrouded with rumors and myths, but they're not all true.
With this passage of Keep Oregon Moving comes a new statewide payroll tax that goes into effect July 1, 2018.
Payroll fraud is real and can happen in various forms, like employee misclassification, ghost employees, and timesheet fraud.
A highly compensated employee is an employee who owns at least 5% of shares in a company and earns more than $100,000 per year.
The end of the year for payroll professionals can be a crazy time, which is why it's best to be prepared.
Minimum wage increases affect workers, but they also affect the costs of goods, which can harm some consumers.
Taxable wages are all payments made to workers that are subject to local, state, and federal taxes while subject wages are deductions with special tax treatments.
When the weather is truly bad - major disaster level - payroll can be affected as offices and workers are turned away from work at weeks' time.
Forty-seven of the 50 states in America have a policy on pay day frequencies.
Payroll mistakes happen and sometimes they're large - like payroll managers embezzling money or studios not paying their interns.
Errors on a W-4 can lead to under or overwithholding, which can be problematic for the payroll department.
The history of the payroll tax dates back to the Revenue Act of 1861. Payroll taxes continue to evolve today.
For workers, gross income is all their wages before taxes are taken out. For businesses, gross income the amount of revenues that exceed the costs of goods sold.
Payroll mistakes, such as not issuing 1099s to vendors, misclassifying employees, and not running payroll on time happen to everyone.
Starting a new business means setting up payroll - here are the steps you need to take in order to have a successful operation.
Ohio has some of the most complicated local taxes in the country - including JEDD, JEDz, and more.
Paying interim employees, either exempt or nonexempt can be complicated.
A deeper look at reciprocity agreements will illustrate just how complicated payroll taxes can be for tax professionals.
Prepaid payroll cards, the new substitute to direct deposit and paper checks, are not only reaching a larger range of employees, but also saving businesses and banks large sums of money.
For athletes across the world, the more salary and endorsements, the bigger the tax liabilities.
After payroll and other expenses, the team collected a total revenue of $233 million in the 2016 season. With the largest payroll in the league, comes some of the most impressive salaries, as well.