Payroll Services Archives - Palmetto Payroll Solutions

Human Resources Outsourced Payroll Payroll Processing Payroll Tax Responsibilities Reporting Small Business Time 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 PayrollSeptember 2, 2021

Human Resources Outsourced Payroll Payroll Processing Small Business

Human Resources Trends and How They Can Impact Your Business

The year 2020 was like no other due to the COVID-19 pandemic. Now that much of the country has returned to normal, those in human resources management are discovering that some trends that emerged during the pandemic are here to stay. We outline some of three of these trends below. Virtual or Hybrid Working Arrangements…

Palmetto PayrollJune 28, 2021

Accounting Outsourced Payroll Payroll Processing Payroll Tax Responsibilities Small Business Time 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 PayrollJune 14, 2021

Human Resources Outsourced Payroll Payroll Processing Payroll Tax Responsibilities Small Business

Outsourcing Payroll Brings a Quick Return on Investment

Small and mid-sized business (SMB) owners often feel caught between a rock and a hard place when it comes to payroll. On the one hand, the task is taking up too much staff time. At the same time, owners of SMBs may worry about the cost of outsourcing payroll and entrusting another party with the…

Palmetto PayrollMay 30, 2021

Accounting Outsourced Payroll Payroll Processing Payroll Tax Responsibilities Small 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 PayrollApril 30, 2021

Accounting Small Business

The Importance of Keeping Accurate Records for Your Small Business

For many small business owners, creating and maintaining an accurate recordkeeping system is one of their least favorite parts of the job. However, they also know that it’s crucial to their ongoing success. Whether you’re a one-person operation working from home or you have already hired a handful of employees, we urge you not to…

Palmetto PayrollApril 30, 2020

Payroll Tax Responsibilities

Take These Steps to Avoid Payroll Tax Penalties for Your Business

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…

Palmetto PayrollJanuary 15, 2020

Company Culture Employee Onboarding Small Business

Save Time and Money to Reduce Employee Turnover

While employee turnover is a reality in your life as a business owner, it's still costly and disruptive. You must spend time and money recruiting, hiring, and training a replacement while your current employees potentially take on a larger workload until the new hire is up to speed. Identifying your company's weak spots and developing…

Palmetto PayrollJuly 10, 2019

Time Keeping

Why Traditional Employee Timekeeping May Be a Thing of the Past

Did you know that the traditional punch-in and punch-out employee timeclock system originated way back in 1888? While considered revolutionary for the time, this method of tracking hours worked is cumbersome at best by today's standards. The timeclock system of timekeeping is ripe for abuses such as employees punching in or out for each other…

Palmetto PayrollMay 15, 2019

Outsourced Payroll Payroll Processing Payroll Tax Responsibilities Small Business Taxes

Determine Your Payroll Tax Deposit Schedule to Meet IRS Requirements

The payroll process involves much more than just adding up an employee's work hours and determining the amount of his or her paycheck for the period. You must also withhold payroll taxes along with any voluntary withholdings the employee authorizes such as premiums for health insurance. Additionally, the Internal Revenue Service (IRS) and state governments…

Palmetto PayrollApril 16, 2019