Understanding
Payroll
deductions - the nuts and bolts of Payroll
Payroll Tools, rates and forms |
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Want to learn about payroll and payroll tax
preparation? See
how we can help |
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Does not prepare PR tax returns |
Will Prepare payroll tax returns
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See also
QuickBooks Payroll Tips |
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See also
Employee &
Human Resources
for human resource/employee tools |
Starting a payroll: |
A payroll checklist
that will help you identify
what more you need to learn about preparing payroll. You need Adobe
Acrobat Reader software view and download this document. If you do
not have Acrobat Reader installed, click
here to access the software from Adobe.
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New to payroll preparation?
First step is to let the IRS know you have a payroll by ordering form
8109 (tax deposit coupons). Call the IRS at 800-829-1040.
Next is to let the State know you have a payroll by completing the registering form for your state:
http://www.payroll.com/support/s_support_states_formlib.html
http://www.irs.ustreas.gov download and
read
Pub. 15: Circular E, Employer's Tax Guide
Pub. 15A: Employer's Supplemental Tax Guide
Pub. 15B: Employer's Tax Guide to Fringe Benefits
IRS Payroll Tax Filing Requirements
Research payroll taxes at
http://payroll-taxes.com
Get answers on the internet - groups discussing payroll
http://bb.payroll-taxes.com
http://www.ioma.com/?qbalance
Google groups, misc taxes
http://www.americanpayroll.org/salc.html
online seminars
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State(s) payroll and sales tax websites:
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Find your State's website - look up payroll
tax rates, limits, regulations, filing requirements. |
| Minimum wage: |
For all 50 states. The rule is the employer must pay the
higher of federal or the state minimum wage. Click here for
federal
minimum wage.
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Who Gets Overtime?: |
Under the new
FairPay rules, workers earning less
than $23,660 per year (or $455 per week) are guaranteed
overtime protection. The effective date of the new regulations is
August 23, 2004.
For a list of how an employee qualifies for an exemption from
paying overtime rates,
click here. Anyone not falling under the
exemptions below must be paid overtime rates for hours worked in
excess of 40 hours.
- executive exemption
- administrative exemption
- professional exemption
- creative professional exemption
- computer employee exemption
- outside sales exemption
- highly compensated exemption
Overtime - 1.5 or double time?
What is considered an overtime hour and what rate should be paid?
What records must be kept for tracking hours
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W4 Form - Fill in PDF Form:
Form W-4 Assistant:
Guides your employees through the
completion of this form.
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Verify Employees’ Social Security & Numbers and Names
in Payroll Records with the
Social Security Administration. A free service that will save
the payroll department hassles that come with filing incorrect
information at year end. Verification can be requested on any worker
for whom a W-2 will be prepared — a current employee, former
employee, or new employee after a commitment to hire has been made.
Low volume requests can be made by phone
800-772-6270. Higher volume requests can be sent on a paper
list, diskette, or magnetic tape. In each case, SSA verifies the
employer’s identity first, then compares four items from the
employer’s records (employee name – SSN – date of birth – sex) with
SSA’s master files.
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Exempt W-4s
expire once a year. Employers are legally required to notify
affected employees about the pending expiration of their W-4s and to
change the withholding status if a new, valid W-4 claiming exempt is
not received.
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Form I-9: |
I9 form Have each new hire complete an I9 form and keep with employee file.
I 9 forms must be filled out for all employees, both US citizens and foreign born must
complete. The Employment
Eligibility Verification Form for all new hires |
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SIC Codes: |
Are you filling out a
government form, here is a listing of SIC codes so frequently
requested on government filings .Top |
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Understanding payroll deductions: |
When you write a payroll check, payroll taxes must
be paid. If the company does not pay them, the IRS and the
State can go after the personal assets of whomever signs the payroll
tax returns (if filed) or the officers of the company. If cash flow
is a problem in your company, be sure to write payroll checks from a separate
payroll account and transfer to the payroll account each payday an
amount equal to the gross salaries/wages plus 10% of the gross wages to cover the
employer's share of payroll tax. This will ensure enough is
available to pay the taxman his due.
Click here, and when you arrive at the web page use
their search window and type type "payroll
tax" as the key word search term. Lots of articles on payroll deductions & employees to
give you enough background to ask the right questions for your
business. Payroll rules do change regularly, so be sure to
talk to your accountant to make sure the information you are reading
applies to the latest tax regulations.
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Health insurance -S Corp owners: |
Correct method of reporting health and fringe benefits in S Corp
owners W-2 at year end:
IRS administrative guidelines plus
BONUS:How to set up using QuickBooks Payroll Items.
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Garnishments: |
The amount you can garnish is limited to a % of
the employee's disposable pay. To learn more about the limits and
what the definition of disposable pay available to be garnished
visit
http://www.dol.gov/esa/regs/compliance/whd/whdfs30.htm |
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Taxable Employee Benefits: |
Easy to read publication on when an expense
reimbursement or a fringe benefit should be included in the
employees wages (W2)
Taxable fringe Benefit Guide
Download publication15B from
http://www.irs.ustreas.gov
Employers tax guide to fringe benefits. Hint-
in the IRS search box type "15B pdf" This publication describes
what is included in W-2 as wages subject to income taxes and social
security taxes. Common fringe benefits that must be considered for payroll tax
purposes are:
Employee (and owner) use of company vehicle - be sure to scroll
down on this page to the cents per mile versus lease value rules
Cafeteria plans -
(also known as flex-plans) Good news for small business. For
cafeteria plans, educational assistance programs, or an adoption
assistance programs, no longer are required to file Form 5500
(unless you are required to file because of pension rules)
making these plan much more affordable (no more professional fees!)
and providing tax savings to both the employer and employee!
See instructions for form 5500 for details.
Cafeteria plans (flex plans) are a great way to save tax dollars for
the employer and employee. Also see frequently asked
questions about
cafeteria plans. Usually set up to Include pretax
health insurance premiums, you will find other benefits included as
well::
Dependent care assistance - dependent care plans
Group term life
Per Diem Expense reimbursements to employees- what amount
must be included in the W2
| Cafeteria Plan
Administration - While the
annual filing of form 5500 is no longer required, there are some
documents that must be in place and some recordkeeping
required. Learn about a Do-It-Yourself Cafeteria Plan
that is easy to implement -click on the image for FastFlex. |
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Workers Compensation: |
If your business has a payroll (files payroll tax
returns), it is required by law to have workers compensation
insurance for all employees including the owner (if the owner gets a
W-2). Reconcile Gross Wages from the Employment Tax Returns to the
Workers' Compensation Wage Base. To reduce workers
compensation premiums, provide the insurance auditor with a
reconciliation of the total gross wages for the policy year (from
the 941's) adjusted for wage exclusions by type and employee
involved. Wage exclusions might exclude overtime pay, omitted
wages above statutory maximums, excludible compensation, and
contract labor charges. Call you insurance agent and ask what
exclusions apply to your insurance policy and what are all the
possible classifications (with rates) that could be possible in your
industry.. |
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Who is subject to OSHA regulations?: |
Your legal obligations to provide a safe work
environment for your employees arise primarily from a federal law
known as the Occupational Safety and Health Act (OSH Act). OSHA was
enacted in 1970 to address the uneven patchwork of state laws
regarding workplace safety, and to respond to the growing number of
serious injuries and deaths occurring in the workplace. All
businesses have a duty to comply with some general rules
CCH Toolkit has several pages devoted to educating the Human Resource Newbie to
what business is subject and what are OSHA regulations. |
2009 FICA Tax Limit, 401K,
IRA, mileage & more:
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Wage, pension, mileage and retiree social
security limits. |
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Tipped Employees: |
In
many States you may pay a tipped employee less than the minimum
wage. Your employees who receive tips of $20 or more in a
calendar month, while working for you, are required to report
to you the total amount of tips they receive. They must give
you written reports by the tenth of the following month.
Employees who receive tips of less than $20 in a calendar month
are not required to report their tips. But keep in mind that
you MUST report tips in the paycheck that at least equal
minimum wage. If the employee does not receive enough tips to
bring his/her wage up to minimum wage, the employer MUST fund
the difference with a higher hourly rate. Employees
can use Form 4070A, Employee's Daily Record of Tips, to keep a
daily record of their tips and Form 4070, Employee's Report of
Tips to Employer, to report their tips to you. Both of these
forms are in
Publication 1244, Employee's Daily Record of
Tips and Report to Employer.
If you operate a large food or beverage establishment where
tipping is customary and you normally employ more than ten
people on a typical business day, you must file
Form 8027, Employer's Annual Information Return of Tips Income and
Allocated Tips, each calendar year. If the total tips reported
by all employees are less than 8 percent of your gross
receipts, you must allocate the difference among the
employees who received tips. The allocation may be based on
each employee's share of gross receipts or share of total hours
worked, or on a written agreement between you and your
employees. Show the amount allocated in Box 8, Allocated Tips,
of the employee's Form W–2. Do not withhold income, Social
Security or Medicare taxes on allocated tips.
If you are required to allocate tips, your employees must
continue to report all tips to you, and you must use the
amounts they report to figure payroll taxes.
Sound like too much paperwork?
There is a simpler program available if in the prior year your
gross receipts from sale of food or beverage at least 20% sales
were paid for by Credit Card and these credit card sales
reflected a tip which was also charged. Credit card sales
with charged tips will help you and the IRS determine the
appropriate tipped % to report. Learn more about how to
participate in this program named " ATIP" Attributed Tip Income
Program.
visit the
IRS for More info |
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The
Payroll Toolkit $ 27.96
Nuts and Bolts Techniques to Help You Better Understand and Manage
Your Payroll
by Timothy Carse, Jeffrey Slater
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Quarterly Checklist FUTA
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940 Checklist
Use this form quarterly to determine the amount of
your 940 payroll tax deposit. No more over or underpaying
You need Adobe Acrobat Reader software view and download this
document. If you do not have Acrobat Reader installed, click
here to access the software from Adobe.
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File form 941 Quarterly |
Once registered with the IRS as an employer, you
will receive in the mail form 941 which must be submitted by the
31st day of the month following the quarter end.
You may file the 941 by mail
(
click
here to download form 941)
or you may tele-file (over the phone) form 941 if you fall under the
following qualifications:
Businesses that receive the special
941TeleFile Instructions and Tax Record as part of their Form 941
Tax Package and who meet the qualifications in the instructions.
- Are a monthly schedule depositor for the
entire quarter;
- Have not changed your business name, address
or Employer Identification Number (EIN) during the previous
quarter;
- Must have a break even, overpayment (to be
applied to the next quarter), or balance due return (can be direct
debit);
- Are not a seasonal employer;
- Have no schedules or attachments (if you are
required to file a Schedule B you are not eligible to use
941TeleFile);
- Only have fractions of cents adjustments;
and
- Want to claim Advance Earned Income Credit (AEIC)
payments. (Optional)
It is now possible to E-file form 941 (but
only through 3rd party providers) Is a $5.00 service fee worth the
convenience of filing online? If so,
click here Made a
mistake on a 941? Now it is easy to make a correction. Visit
www.irs.gov
and download Form 941X. |
Quarterly Checklist
State
unemployment |
State Unemployment Worksheet. For all states, if you have difficulty
understanding how to calculate the amount of wage to include in the
employer's quarterly tax report, try out this worksheet.
Includes helpful tips on creating a weeks worked report, adjustment
of payroll liability check and set-up of unemployment tax rates in
QuickBooks
NJ927 2009 For New Jersey Employers. No more over or
underpaying! Complete this worksheet before completing the
quarterly payroll tax filing (State unemployment form).
You need Adobe Acrobat Reader software view and download this
document. If you do not have Acrobat Reader installed, click
here to access the software from Adobe.
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| Year End Checklist
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W-2 Checklist Complete this worksheet to spot errors ... before
the IRS does!
More payroll checklists below |
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W2
checklist -federal YEAREND
Download our free W2
Checklist. Eliminate IRS notices and penalties by making sure
your quarterly 941 forms (payroll tax filing) agree to the W 2
forms filed at year end.
To be completed before printing the W2 forms and before filing the 4th
quarter 941payroll tax filing.
W 2 state
checklist YEAREND
Complete this worksheet to insure accurate year end tax filing
for the W2 & W 3.
Guide to
preparing W2 forms in QuickBooks
You need Adobe Acrobat Reader software view and download these
documents. If you do not have Acrobat Reader installed, click
here to access the software from Adobe.
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Reasonable wages |
S Corporation (S corp) dividends (distributions), officer
loans,
and what is a reasonable wage for the owner , officer. |
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Union Benefit Reports and Certified Payroll |
Save time, increase accuracy! A solution
for reporting Certified Payroll Reports, EEOC/Work Utilization
tracking reports, Benefit Reporting, AIA format billing, and the
generation |
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See also
QuickBooks Employee Organizer |
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Payroll Services
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Considering a payroll service? |
The pros and cons of outsourcing payroll
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QuickBooks
Payroll |
QuickBooks Enhanced Payroll |
Understanding
Payroll deductions - the
nuts and bolts of Payroll
Want to learn about payroll and payroll tax
preparation?
See
how we can help
|
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Other Resources |
Become a member of
Accountantsworld.com to receive a daily
e-mail full of tax and finance articles and an occasional Payroll
article that is very good.
State regulations regarding Direct Deposit of employees
paycheck into a bank.
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Payroll Deduction Calculator |
Get the correct deductions or gross up a net
paycheck |
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See also
QuickBooks Payroll Tips |
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See also
Employee &
Human Resources
for human resource/employee tools |
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Simple, Sep Plans, & 401 K Plans |
Learn more about choosing, setting up pensions for small business
employees |
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Compensation limits for benefits valuation |
Pension benefits-Highly compensated employee
$110,000 (2009) $110,000
(2010
Pension benefits - Key employee
$160,000
(2009)
$160,000 (2010)
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Dos and Don'ts- Employees
with disabilities |
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Additional requirements when hiring a non
resident alien or H-1B employee |
This may not be a complete list so be sure to check with your
CPA
1.
Withholding taxes and rules on Aliens employed in the USA
2.
List of all fact sheets on H-1B requirements at the DOL
Record keeping requirements for a H-1B employer
Rules regarding an H-1B workers deductions from gross pay
Benefits that should be offered to an H-1B worker |
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What are payroll cards? |
Direct deposit of paychecks into
employees bank accounts saves large employers quite a bit on
processing payroll checks, distributing payroll checks and
handling uncleared or lost payroll checks. A payroll card is an
alternative to Direct Deposit for employees who do not have a
bank account. The cost savings is about 1/2 the savings
of a direct deposit check.
Click Here for a full article (21 pages of easy to
read material describing all aspects of payroll cards) |
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Independent
Contractors - help to determine who gets a 1099 |
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Independent contractors
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The more common 1099-Misc payments are for business expense payments for
services and and rents totaling over $600 per payee per year when
the payee is operating as an unincorporated entity.
Take note that payments for products to unincorporated entities DO
NOT require a 1099. Examples of unincorporated entities are
sole proprietorships, partnerships and LLCs. Corporate
entities are required to have the designator Inc., Corp, PC,
or PA follow the company name. By requesting a completed form
W-9
(see below) from your vendor you will have all the information
necessary to complete the 1099 at the end of the year.
Examples of the types of expenses that require
1099's
- Payments for rents for
office space including amounts paid to you for home office space,
storage space, and machine rental require a 1099 to be sent.
- Examples of services
include subcontractors, commissions, consultants, cleaning services,
professional fees, referral fees, and temporary help.
- Interest
or dividends payments to unincorporated entities also require a 1099
but the reporting limit is reduced from $600 to $10 per payee per
year.
- Take note that payments to owners of S Corporations are
not dividends. They are "distributions" and do not fall within
the 1099 reporting guidelines.
Exceptions- regardless of the amount and
including incorporated entities all payments of the following are
reportable on a 1099-misc
- Payments to crew-members by owners or
operators of fishing boats including payments of proceed from sale
of catch.
- Gross Proceeds paid to attorneys
There is no list available that you can go to in
order to determine if you should treat a person as an independent
contractor or an employee.
IRS website - Who is an
independent contractor vs. Employee
Pamphlet on Independent
contractor vs employee
Every case is unique and must be considered with
its own list of circumstances. You can
research common law (case law that you can read to
help make a determination¹) but the IRS has
recently developed a form that you can complete and
mail in for help making the correct determination.
The Form SS-8 is a terrific
tool to help you understand what the IRS will look
at in making the determination.
In
fact it is so thorough that you will most likely be
able to make your own determination by the time you
are through completing it.
Form SS-8,
Determination of Worker Status for Purposes of
Federal Employment Taxes and Income Tax Withholding
.can be completed and sent to the IRS
. This form looks at who has financial control,
behavioral control, and the relationship of the
worker and the company. There is also a
section on service providers and salespersons which
indicates that this is an area that the IRS
believes is not being handled correctly.
Every accounting department should download and
read this form to gain a better understanding of
how the IRS makes the determination.
Form 8919.
New form beginning in 2007 where a worker can alert
the IRS that he/she was incorrectly treated as a
1099 consultant rather and as an employee.
This form will permit the worker to "NOT PAY" the
employers share of social security and medicare
tax. This form will be reviewed by the IRS to
determine if the worker made a correct assessment
or if the employer should receive an employment tax
audit. This could be the beginning of an increase
in employer tax audits by the IRS.
The
introduction of the SS-8, Form 8919, new
announcements by the IRS that 29 state workforce
agencies have now entered into agreements to share
the results of employment tax examinations, and
increased IRS audit budgets,
means that it would be prudent for all businesses
to review their policies to determine if indeed,
any current independent contractors should become
employees.
For comprehensive training on
who can be classified as an independent contractor,
download the PDF
training guide for
Auditors used by the IRS to train their employees
on who is an independent contractor vs employee
¹ Court
cases:
Employment Tax case
citations:
Common law employee:
Orion Contracting Trust v. Commissioner, T.C. Memo
2006-211.
Kumpel v. Commissioner, T.C. Memo 2003-265.
Ronald McLEan E. Video v. Commissioner, T.C. Memo
2003-13.
Weber v. Commissioner, 103 T.C. 378 (1994), aff’d,
60 F.3d 1104 (4th Cir. 1995).
Nationwide Mutual Insurance Co. v. Darden, 503 U.S.
318 (1992).
Corporate officer as employee:
Joseph M. Grey Public Accountant, P.C. v.
Commissioner, 119 T.C. 121 (2002); aff’d in
unpublished opinion, 93 Fed. Appx. 473, 93 AFTR2d
2004-1626 (3d Cir. 2004); cert. denied sub nom. Nu-Look,
125 S.Ct. 60 (2004).
Nu-Look Design, Inc. v. Commissioner, T.C. Memo
2003-52, aff’d, 356 F.3d 290 (3d Cir. 2004), cert.
denied, 125 S.Ct. 60 (2004).
Spicer Accounting, Inc. v. United States, 918 F.2d
90 (9th Cir. 1990).
IRS brief article,
facts to consider when classifying a person as an independent
contractor & further resources to
determine who gets a 1099.
Below are some general guidelines be sure to clarify with your tax
advisor
Workers Compensation audit and
the independent contractor- read this for audit savings!
The States are also interested in employers
correctly classifying workers as employees. They are looking to
collect the proportionate share of unemployment taxes on these
earnings. Your state may use a different set of rules for
classification.
Take a look at New Jersey's 3 tests used to
determine independent subcontractor status, it is easy to read and
will shed more light in helping you come to the right conclusion.
More about
how to
prepare a 1099 using QuickBooks
Order
QuickBooks 1099's here
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Workers compensation premiums paid for
subcontract work performed |
Insurance companies will bill your business additional workers
compensation premiums for vendors/contractors that do not already
have a workers compensation policy.
The premium is chargeable on the labor
portion only. If you do hire independent contractors that provide a
service. Be sure the invoice from the independent contractor
allocates the charge between material and labor. Set up a
policy to record these bills in QuickBooks using subaccounts
of the account "subcontractors"
Set-up an account " Labor-Subcontractors" -subaccount of
Subcontractor
Set-up an account "Material-Subcontractors"- subaccount of
Subcontractors
Allocate each bill that is from a subcontractor
who cannot provide a certificate of insurance using the above
accounts. In the memo field describe the work completed.
This will provide the insurance auditor with the information to
charge a premium based on the type of work performed rather than
assigning your companies highest risk rate (the standard applicable
rate to subcontractors) |
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Printing 1099 forms |
Prepare and print form 1099 in QuickBooks |
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W-9 |
W-9 Provide to
your subcontractor to obtain Tax ID information. Will speed
the preparation of form 1099 at the end of the year.
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Take control of your
finances!
Versions on CD
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Payroll Audits |
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What can triggers IRS or State department
of labor payroll audit? |
- Failure to pay 941 and 940 timely
- Late filing or incorrect payroll tax forms
filed
- Complaints by disgruntled ex-employees
- Issuing a 1099 to an individual that does
not receive 1099's from any other customers and who may report the
1099 amounts as wages on their tax return rather than as
self-employed income
- W-2's and 1099's issued to the same
individual in same year.
- Missing Social Security numbers from
filings. Always obtain a W-4 and I-9 for employee's and a W-9 from
any vendor/sub that supplies a service that does not have an INC,
Corp, PC or PA at the end of its name.
- Industries or businesses that have a high
rate incorrectly classifying individuals as 1099 recipients rather
than as W2 employee status. For example, contractors that
employ casual labor or per diem labor, or marketing organizations
that employ independent sales representatives. Be sure to obtain a
certificate of insurance from each of your independent contractors
which will help support your claim of non-employee status.
- Department of labor audits may focus on
whether an employee was properly classified as exempt
employee's (not eligible for 1 1/2 hourly rate for overtime pay).
If an employee's classification changes during the year from
exempt to non-exempt, the classification is retroactive to the 1st
of the year and overtime premium must be paid from January 1st.
Keep a job description for each employee to support the exempt
status of the job. Keep time sheet records for all
employees.
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Employee Reviews |
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Employee's can self evaluate and contribute their
input to the annual review process by completing this questionnaire
about performance, cost effectiveness, attitude, responsibility,
ideas, image, teamwork, attendance and personal development:
Purchase a Workplace Personality Test
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Employees are required to demonstrate professional
behavior in their jobs, your self evaluation
will be the starting block in our discussions to help you identify
what you are doing right and what areas could be improved:
Rate the quality of your work and the information
that is produced?
Are you putting forth your best?
Do you carry out your job in a cost-effective manner?
Do you do all that you can to work smarter?
Do you attempt to be more productive with fewer errors? and
still finish assignments timely?
Do you go all out to complete job-functions in a timely
manner?
Do you have a positive mindset toward personal, department,
and company goals, and does it show in your actions, feelings, and
thoughts or is your glass always half empty?
Do you enjoy coming to work?
Are you thoughtful and considerate toward co-workers?
Do you refrain from gossiping about co-workers?
Do you work to encourage better attitudes?
Do you display company loyalty?
To what extent do you take responsibility for you job?
Do you take on challenge and look for additional responsibilities?
Do you work well on your own and under supervision?
To what extent have you offered original ideas and recommendations
for improvement?
Do you recommend better ways of doing things?
How have you contributed to solving or preventing problems,
what do you do to try to avoid problems?
Do you keep an open line of communication?
To what extent have you displayed a high-quality image in my
appearance, language, personal hygiene, and working environment?
How do you rate your contribution to groups/company performance?
Are you aware of department goals?
Do you add value to your team and communicate with team members
effectively?
To what extent do you keep others informed to prevent problems from
occurring?
Do you promote lines of communication between accounting and other
departments?
Do you share information?
Do you speak up at meetings and let your opinions be known?
How willingly do you jump in to share the responsibility of getting
the work done?
Do you voluntarily assist others to achieve results?
Do you complete work accurately and thoroughly and work toward a
smooth flow of information throughout the company?
Are you present and on time for work? How often are you late to
work, leave early, stretch
lunches or breaks, or chit chat with
co-workers?
Does your attitude show you recognize that your absence or tardiness
causes inconvenience and hardship for co-workers?
Do you take classes to expand your knowledge?
Do you improve your job performance by applying what I have
learned?
Do you seek out information about our industry?
Review these personality types and select all that may have
regularly or occasionally surfaced since your last review and
describe the impact of the behavior and why it is unproductive or
undesirable and describe what steps you can take to reduce or eliminate a
reoccurrence:
a. The office bully or dictator- pushy and uses fear tactics
to control a co-worker
b. The procrastinator- the individual who is a master as to why a
task or project is not yet started
c. The grouch - does your personal problems come through in moody
and grouchy behavior
d. The last to arrive-first to leave
e. The mediocre performer - do only the minimum on every assignment
doing just enough to keep your job, but not enough to contribute to
the growth of the company.
f. The Needy - one who looks fro constant attention, reassurance and
feedback
g. The backstabber or mudslinger
h. The Chronic Complainer
i. The substance abuser |
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Motivating Employees - does not always require an
increase in wages |
Each week, choose employees from each department
to have dinner or or do an activity with members of management
Give a party for the employees at the boss's home, tasty restaurant
or office.
Ask your key employees if they could make a change about their
position, what change (s) would they be?
Create a bulletin board "wall of fame" - tacking photographs
and listing the accomplishments of an employee and what steps they
took for achieving their goal. Post weekly.
Provide a free meal. Bring in breakfast or lunch for everyone
Make sure your employee has everything they need to do their jobs
well. It can be frustrating to a key
employee when they have to struggle to do the job because
they don't have have the right computer
program or because they must make do with inferior or problematic
equipment.
Give out tickets to movies or sporting or musical events
Ask you key employees what they liked best about previous positions
and why.
Hold an employee picnic, with enjoyable events that all
employees can participate in
Create awards for specific achievements
Ask your key employees what you can do to make their job more
rewarding.
Take a day and offer to do an employee's least favorite task
Ask your key employees what they would miss if they were to become
financially independent and not need to work any longer.
Ask you key employees if there is anything you can do to support
their career goals.
Have a job exchange day, and be sure that the managers participate
Allow employees to work a flexible schedule (when appropriate,
taking into consideration the business's needs) |
|
|
The
Payroll Toolkit $ 27.96
Nuts and Bolts Techniques to Help You Better Understand and Manage
Your Payroll
by Timothy Carse, Jeffrey Slater
|
|
All About Payroll |
All you need to know about payroll |
|
Have a Tax Question |
Tax-sites.com lists resources by topic on basic
business tax issues
Top |
|
Tax Calculators by Turbotax |
Quicken/TurboTax site has a few dynamite calculators
including a "deduction finder", "self-employment calculator",
"estate tax estimator" and lots of information about opportunities
to save and save on taxes Top |
|
Understanding Taxes
|
Read
Publication 17,
"Your Federal Income Tax," a free, 280-page overview of common
tax issues that covers everything from stock sales to student loans
to business expenses. Copies are available at the IRS Web site
at www.irs.gov under the "Forms & Pubs" section or order a copy by
calling 800-827-3676 (Update annually as tax laws do change)
Top |
|
What permits/license must your business apply for |
Easy tool to see what licenses and permits your
small business is subject too.
http://www.business.gov/ |
|
Tax Tips |
Msn has easy to understand articles on tax saving
strategies
Top |
|
Individual tax |
Articles, websites for personal taxes
Top |
|
C
Corporation tax rates |
For United States both State and Federal rates
Top |
|
Sales tax rates |
A list of sales tax rates by state-
Localities may also charge sales tax on top of the state tax rate.
This list does not provide the detailed rate by locality, it does
include a column for maximum sales tax rate which is a combination
rate of state and the highest local rate. |
|
Tax Research on the web |
www.irs.gov
www.taxalmanac.com
www.legalbitstream.com
thomas.loc.gov |
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