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Payroll deferrals vs. Reduced payroll deposits

Business Management Daily

The Coronavirus Aid, Relief, and Economic Security Act provides employers with what seems like a bewildering array of choices: reduce your payroll deposits in anticipation of taking a credit, get an advance on your tax credits, defer your share of Social Security taxes. Employers with fewer than 500 employees for paid sick and family leave.

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Your October payroll questions answered

Business Management Daily

So before we turn our attention to post-season baseball, let’s sort through some pandemic-related payroll questions that have come to our attention. Can the company deduct the cost of this equipment from an employee’s final pay? The post Your October payroll questions answered appeared first on Business Management Daily.

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Single Touch Payroll Phase 2: What to expect

Ascender

Single Touch Payroll (STP) left the Australian payroll world abuzz in the past year, with how it changed the way business reported their payroll information to the Australian Taxation Office (ATO). The first phase of STP reporting included high-level data such as Gross, Tax, Allowances, Deductions, Lump Sums and Fringe Benefits.

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Your 2021 payroll questions answered

Business Management Daily

Payroll , even under normal circumstances, can be tricky. Below, we’ve answered some recent questions from readers on payroll topics in hopes of providing some of that expert insight. Paid leave tax credits for public employers. Paid leave tax credits for public employers. Reporting no SSN on a W-2.

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The Ultimate Employee FnF Settlement Guide

Qandle

Full and Final Settlement in Payroll- What is it? This process involves payment of the last working month’s salary, along with any additional earnings or deductions. Leave encashment : If the employee has any unused paid leave, the employer may have to pay for the same.

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New COVID relief package extends payroll provisions

Business Management Daily

It includes extensions and expansions of payroll relief and another set of $600 checks payable to most taxpayers. The key payroll provisions include: An extension of the paid sick/ family leave provisions and your tax credit for providing leave. Extensions of popular payroll tax provisions. Through Dec.

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Single Touch Payroll is getting a facelift

Ascender

Single Touch Payroll (STP) left the Australian payroll world abuzz in the past year, with how it changed the way business reported their payroll information to the Australian Taxation Office (ATO). The first phase of STP reporting included high-level data such as Gross, Tax, Allowances, Deductions, Lump Sums and Fringe Benefits.

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