Before 401(k) plans burst onto the employee benefit scene in the 1980s and traditional pension plans had not yet gone nearly extinct, there were profit-sharing plans. The purpose of these plans, as the name suggests, was to spread some of your profits around the workforce. But as 401(k) plans emerged, they were often incorporated into [...]
Employers who must comply with the Americans with Disabilities Act (ADA) and similar state laws sometimes wonder how far they have to go to accommodate a disabled applicant or employee. The ADA defines accommodation as any change in the work or work environment which enables a disabled employee to perform the essential functions of a [...]
If your company still uses a manual time tracking system, you are probably losing time and money, as well as opportunities to streamline payroll and labor management. Much of the extra cost comes from errors and the time that managers and payroll personnel spend on labor-intensive tasks, such as: Monitoring early and late sign-ins and [...]
Do you owe self-employment (SE) tax on non-wage income that you collect only occasionally or in a one-off circumstance? Some sources of income may not be subject to the dreaded SE tax. Here's what you should know if you earn income from "irregular" sources. What Is SE Tax? SE tax is the way the U.S.Treasury [...]
While you're considering health care benefits options during your "open enrollment" period, you should also take stock of your retirement savings strategy. Are you saving enough to cover your retirement needs? The answer depends on many factors, including your expected living expenses, bucket list items (such as travel and hobbies) and potential medical and long-term [...]
Under the Affordable Care Act, whether an employer is required to provide health insurance depends on the number of full-time employees and full-time equivalents. That means your payroll tracking reports are now closely tied to your company's health coverage. Health insurance terms can be confusing — especially now that the ACA has brought a whole [...]
Unemployment costs your organization money nearly every minute of every day — when you pay unemployment tax based on your payroll expenses, when an employee files a claim against your reserve account and when the Department of Labor shows up at your door for an unannounced audit. If you have employees, you're familiar with the [...]
If you're not familiar with the "ban the box" concept, you might be soon. The box refers to a question on a job application that asks applicants if they have been convicted of a crime. In 14 states, it's now illegal to include that question. If your state is not one of those 14, it [...]
If you have a backlog of projects piling up because there just aren't enough hours in the day, you may consider hiring interns to help you get caught up. This can be a great idea that provides benefits for your company and the students. However, if you want help from interns, don't expect to get [...]
They're commonly called reference checks and involve calling previous employers and asking them about an applicant's employment history. But in the typical reference call, you aren't really looking for a reference (or endorsement) for an applicant. In the typical reference contact with a previous employer or previous supervisor, you are looking for: Factual information about [...]
