Does One More Pay Period in a Year Make Any Difference?

When is 52 not the correct answer? That’s easy when you look at it from a payroll perspective …

Depending on the payroll schedule and the day of the week payroll is issued, you might actually have 53 payrolls in a year or 27 if you are on a bi-weekly payroll schedule. Because of that, there may need to be adjustments to the taxes being withheld. In addition, adjustment might be necessary to pretax deductions. (more…)