Posts Tagged employees
If you are like most small business owners, you will spend much of your typical busy day communicating in various ways. But how often do you stop and think about communication relating to payroll taxes? This type of communication is done a little differently than most other interactions – it is done through IRS-specified forms such as W-2, W-4, and W-9 forms. (more…)
Posted in: IRS and Tax forms
Leave a Comment (0) →We have all heard that old saying about doing everything correctly most of the time. But the one time we make a mistake that certain slip-up seems to be what people remember much more frequently than all the other moments that were perfect. As business owners, most of us have learned the hard way that this old saying rings true. (more…)
Posted in: Payroll, Payroll Processing
Leave a Comment (0) →How well do you keep up on regulations that affect small businesses? Are you aware of the changes that have been made regarding 2014 payroll taxes? Maybe you enjoy reading tax regulations in your spare time. Maybe you can’t wait to see the latest income tax withholding tables. Or maybe not. (more…)
Good news! After the unusually cold and stormy winter we’ve had this year, the economy finally seems to be thawing with U.S. employment statistics trending upward. Increases were recorded in the number of employees and hours worked and in pay rates. For small business owners, especially those in industries with several hourly workers, job growth can signal new business demands as well as challenges in handling increased payroll responsibilities. (more…)
Posted in: Payroll, Payroll Processing
Leave a Comment (0) →Outsourcing has gone being from a dirty word to a wise business decision in the last couple of years. Let’s explore why. (more…)
Posted in: Payroll, Payroll Processing
Leave a Comment (0) →Mike has been coming into work at your small business late every day for the past two weeks. Even though you’ve counseled him, his behavior hasn’t changed. You have no choice but to terminate his employment. However, when you notify Mike that he’s fired, he demands his final paycheck right then and there. Do you have to pay Mike immediately what he’s owed?
According to Indiana Department of Labor, when employers discharge or lay off employees, they are not obligated to pay the employee immediately. However, the employee’s final wages “must be paid on or before the next regularly scheduled payday,” which would have been when the employee would have normally been paid had he or she remained employed at your workplace.
Even when employees quit, you can pay his or her final wages by the next regularly scheduled payday.
If an employee voluntarily resigns and hasn’t provided a forwarding address, and you don’t know where the employee lives now, as an employer, you must pay the employee:
If you don’t pay an employee who has resigned or been terminated his or her final wages within the required time frame, your company may have to pay additional penalties, interest, and any attorney’s fees and legal costs the employee spends while trying to force your company to pay them.
By outsourcing your payroll to a payroll services provider, like The Payroll Department located in Brownsburg, IN, they can help you stay in compliance with any government requirements. Contact Teresa Ray, owner of The Payroll Department, at (317) 852-2568. She’ll be happy to talk to you about your company’s payroll needs and explain all of the benefits you’ll receive when you turn your company’s payroll services over to them.
-Ariane of The Payroll Department Blog Team
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