Federal Payroll Laws for Nonprofits

Nonprofit payroll processing can be challenging, as it requires dealing with special provisions of the Fair Labor Standards Act (FLSA), which is administered by the Department of Labor (DOL), and the federal tax code, which is governed by the IRS. FLSA Coverage for...

Pretax and After-Tax Deductions

Deductions Taken Before Taxes Pretax deductions are subtracted from employees’ wages before taxes are taken out, thereby lowering their taxable wages and increasing their take-home pay. For deductions to be eligible for pretax status, the employer must have an...

7 Reasons to Hire an Accountant

When it comes to managing your finances, you may feel like you’ve got a good handle on your money. You know your income and track your expenses, so why pay someone to do what you’re already doing, right? Unfortunately, this is where many people fail to...

Federal Tip Pooling Rule 

The new Federal rule that could broaden tip pooling to different employees does NOT apply to any business that takes a tip credit of any size, like a restaurant. If you are not paying your tipped employees the full minimum wage, then you are taking a tip credit. The...

Determining How Often to Pay Employees

Weekly, monthly, quarterly — how often should you pay your employees? The answer varies, but the good news is that you can set your own wage payment schedule. The law says, however, that your payment schedule must be consistent. You can’t pay your employees...