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Payroll Tax Responsibilities

Payroll Tax Responsibilities

The Basics of Small Business Payroll Taxes 

Taxes. Sometimes we may grumble about them, but the reality is that they provide funds to keep America functioning. Businesses pay payroll taxes to provide essential services and support to American Citizens including Social Security and Medicare. As a small business owner, it is important to understand payroll taxes, including what needs to be paid…
Palmetto Payroll
January 15, 2023
Human ResourcesOutsourced PayrollPayroll ProcessingPayroll Tax ResponsibilitiesReportingSmall BusinessTime Keeping

Understanding Employee Overtime Requirements as a Small Business Owner

Under federal labor laws, employees classified as hourly satisfy their overtime requirements after working 40 hours in one week. While working overtime, employees must receive one and one-half times their normal hourly salary. This sounds simple enough on the surface, but small businesses often find themselves facing fines and other legal consequences because they do…
Palmetto Payroll
September 2, 2021
AccountingOutsourced PayrollPayroll ProcessingPayroll Tax ResponsibilitiesSmall BusinessTime Keeping

Receive The Maximum Benefits From Your Payroll Provider

Whether you are searching for a company to perform payroll services or have worked with the same provider for years, you need to ensure you are getting the most for your investment. This blog explores questions to ask your current or potential payroll provider to give you peace of mind that your company is receiving…
Palmetto Payroll
June 14, 2021
AccountingOutsourced PayrollPayroll ProcessingPayroll Tax ResponsibilitiesSmall Business

Review Your Balance Sheet to Determine the Health of Your Business

How healthy is your business? Fortunately, the answer to this question is as simple as looking at its balance sheet. According to the Small Business Administration (SBA), a company’s balance sheet includes its assets, liabilities, and each owner’s share of equity as of the date of preparation. The owner’s share of equity should be the…
Palmetto Payroll
April 30, 2021
AccountingOutsourced PayrollPayroll ProcessingPayroll Tax ResponsibilitiesSmall BusinessTime Keeping

Avoid These Common Payroll Mistakes to Save Money

Processing payroll manually opens your company to the risk of making common payroll mistakes that could cause a significant loss of revenue. From the Internal Revenue Service (IRS) imposing penalties to overpaying employees, these payroll mistakes are all too easy to make. We review some of the top payroll mistakes we see and how to…
Palmetto Payroll
March 15, 2021