Business Management Daily

SEPTEMBER 1, 2023

The saga of 401(k) catch-up contributions under SECURE 2.0 For employees who contribute to more than one 401(k) plan during a year—an old employer’s plan and a new employer’s plan, for example—contributions into each plan would be treated separately for purposes of determining whether the $145,000 threshold has been reached.

401(k) 97

401(k) Taxes Payroll Software Payroll 97

Abel HR

APRIL 30, 2020

Other withholdings: Beyond taxes, chances are you also take a variety of deductions from your employee’s paychecks to cover contributions to health insurance, retirement or 401K plans, and even court-ordered wage garnishments.

Payroll 52

Payroll 401(k) Taxes Payroll Software 52

Insperity

NOVEMBER 5, 2014

Payroll software. Still running payroll on the manual system your business started with? Moving to an automated payroll system is a crucial first step. Payroll software can streamline the payday process and reduce the time necessary to enter information that is repetitive across all payrolls.

Payroll System 77

Payroll System 401(k) Payroll Software Payroll 77

Patriot Software

MARCH 4, 2019

If you imported information from your payroll software or used a tax preparer, you may not know the ins and outs of Box 1. Let’s say an employee earning $50,000 contributed $2,000 to their 401(k) during the year. But, Form W-2 details stump many employers and employees. So, what is Box 1?

Retirement Plan 40

Retirement Plan 401(k) Taxes Life Insurance 40

Insperity

NOVEMBER 5, 2014

Payroll software. Still running payroll on the manual system your business started with? Moving to an automated payroll system is a crucial first step. Payroll software can streamline the payday process and reduce the time necessary to enter information that is repetitive across all payrolls.

Payroll System 40

Payroll System 401(k) Payroll Software Pay Raise 40

Patriot Software

FEBRUARY 25, 2019

Other deductions that impact take-home pay include: 401(k) or other retirement contributions. Let Patriot’s payroll software calculate taxes and deductions for you. Depending on the type of small business employee benefits , individuals may also have additional deductions taken from each paycheck. Wage garnishments.

Take Home Pay 46

Take Home Pay Gross Pay 401(k) Deductions 46

Insperity

MARCH 15, 2018

You need to calculate the payroll every pay period, and figure out federal, state and local taxes and pay them on time. You also need to track voluntary deductions like health insurance and 401(k) contributions, prepare and file quarterly reports, and process w-2s at the end of the year. Using payroll software.

Payroll 66

Payroll 401(k) Professional Employer Organization Taxes 66