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The 10 Most Common Misconceptions about Payroll and How to Avoid them
There are quite a few misconceptions surrounding wage and hour law and tax law. These cause problems for employers and may also lead to compliance issues, if they do not understand what they are doing wrong. Discover the 10 common misconceptions surrounding payroll and learn what the truth is, so you are in compliance. In this part of the session our expert speaker will walk you through the subject, discussing ten common misconceptions about payroll, and how you can avoid them. Understanding the subject can help you save a lot of money you might otherwise be losing through penalties, fines, interest, or over payment.
- Weekly overtime is the only OT employers need to worry about
- The company defines the work week and they can only change the same if needed
- The overtime payment is done only to the hourly employees
- If the employee does the 42 hours working, then he should be paid for extra 2 hours
- An exempt employee working in an hourly position does not have to be paid overtime Read More...
Payroll Bench-marking: Cut costs and Improve Efficiency
The webinar begins with the basics of payroll benchmarking – what is it? What are its uses? How does it apply to payroll, and how does it help? Our speaker will answer these questions, and also take you through other fundamentals of the process, such as: the reasons why benchmarking should apply to payroll, myths surrounding the process, common benchmarking mistakes. Another important subject which will be covered is how to incorporate your findings, to make it all worthwhile.
- What is benchmarking?
- Learn about benchmarking, and how it applies to payroll
- Learn why benchmarking should apply to payroll
- Learn how you can establish a benchmarking program for your payroll department
- Find out the common benchmarking mistakes
- Learn how to incorporate your findings to gain satisfactory results Read More...
Handling Unclaimed or Abandoned wages: What Payroll Needs to Know
Abandoned wages, properties, escheat, among others have only one requirement. Every employer is required to report all the abandoned or unclaimed wages to proper state authority at proper times in a proper manner. However, the problem is that not many employers are aware about this requirement and how to go about it. This issue of not being compliant is actually a matter of being unaware of their responsibility to report. It’s quite unfortunate though that not being aware does not stop any huge penalties, fines or interests that befall a firm for failing to adhere to the regulation.
- When can wages be regarded as abandoned?
- What regulations or laws cover the unclaimed wages?
- What is the responsibility of Payroll that relate to the abandoned wages?
- What processes can be taken to report and remit the unclaimed wages correctly?
- How unclaimed wages can be safeguarded form unauthorized or improper release? Read More...
Electronically Verify the Information provided by the Employee on the Form I-9
- Learn how to validate employees electronically
- Learn how to properly complete the I-9 electronically, with a section by section review of the process
- Learn about electronic storage and review
- Learn about e-verification
- Learn about employment verification Read More...
ACA Reporting for 2017-2018
The IRS issued Notice 2016-70 on Nov. 18, 2016, giving employers subject to the Affordable Care Act's (ACA's) 2016 information-reporting requirements up to an additional 30 days to deliver these forms to employees. The deadline to distribute forms to employees in 2017 shifts from Jan. 31 to March 2.The IRS did not change the deadline for filing Forms 1094 and 1095 with the agency. Those deadlines remain Feb. 28 (paper) or March 31 (electronic).
- ACA Reporting Requirements Overview
- What information needs to be reported and by whom
- What are the updates in Penalty Structure
- 2016 Form update and review
- 1095C changes review
- Review of the IRS AIR Program
- Challenges from the 2015 filing season and Deadlines as per IRS Read More...
