Palmetto Payroll is your local source for payroll and back office operations for your business. We pride ourselves on customer service while implementing the very latest in technology and efficiency. Call us today we would love to hear how we can help. We assist more than 300 business owners meet their goals and we would love to help you too.
There’s nothing fun about your business owing money to the Internal Revenue Service (IRS), especially when you made an honest mistake or omission. Unfortunately, this scenario is common. In 2016, the IRS assessed civil penalties against six million businesses for mistakes or omissions with payroll tax and just under one million paid a penalty related…
You may have heard how much small businesses benefit the general economy by providing jobs for more than half of all Americans. However, it would be a mistake to assume that the benefits of small businesses end there. From bringing communities together to offering more unique products than you might find at your local big…
According to the results of a recent Gallup poll, the number one reason that people resign from their jobs is that they feel unappreciated. This ranks over several other common struggles that people have at work such as conflicts with family responsibilities and not getting along well with their boss. The poll also states that…
The United States Department of Labor created the Fair Labor Standards Act (FLSA) to help regulate issues that arise between employer and employee. One of these is a tax deduction to offset the cost of employee uniforms. Because the FLSA considers uniforms a primary benefit to the employer, it doesn’t allow businesses to include the…
As a business owner, the Internal Revenue Service (IRS) expects you to keep hard copies of certain records for several years in case it needs to see a copy of something again. Fortunately, you can scan the original item and store it on a computer to save space if necessary. From the standpoint of the…
Before your company can hire the right person for an open position, someone first needs to define that position and where it fits into the company’s budget and long-term goals. The process from job creation to hiring an employee can be easier when human resources personnel takes the time to define exactly what the company…
When your company hires a new employee, he or she will fall into the category of exempt or non-exempt in most cases. While several differences exist between the two, the biggest one is the qualification for overtime pay. Exempt employees do not receive pay for any hours worked over 40 in one week while non-exempt…
The term FICA, which stands for Federal Insurance Contributions Act, is a mandatory federal tax that requires employees to pay a certain percentage of each paycheck towards the Medicare and Social Security programs. Employers must pay the same percentage as employees from every paycheck while self-employed individuals pay both the employer and employee portion of…
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