Skip to main content Skip to search

Archives for Payroll Services

What’s New with the New W-4?

New W-4The IRS changed the W4 for 2020, the intent behind the changes were to make it simpler to fill it out. Here’s what you need to know about the new IRS W-4.

The Form W-4 is the Employee Withholdings Certificate. This is the form that employees fill out for employers to deduct income tax from their earnings. It has needed an overhaul for quite some time. According to the IRS, this new form is less complicated and only requires taxpayers to answer more straightforward questions.

There will no longer be deductions, or personal exemptions. Instead the new Form W-4 calculates withholdings by having you fill out your information such as your name, job information including multiple jobs and if your spouse works, dependents, and other adjustments, then it must be signed. Not everyone has to fill out every step, it varies by individual. To see what the new 2020 form W-4 looks like, click here.

Who has to fill out the new form?

If you’re already working you don’t need to fill out the new form for the new year. But if you’re newly employed, or have had a change in your lifestyle status, then you would need to fill one out. A change in lifestyle status could include a marriage, divorce, having a baby or adoption.

Be careful when filling it out, if you don’t have enough taxes withheld, you could end up owing the government money when you file your taxes. If you have too much withheld, think of it as an interest-free loan (and a smaller paycheck). The IRS is there to help you figure it all out. They have a tax withholding estimator which can walk you through it all. Just have all of your previous year’s information available so that it is as accurate as it can be.

If you’re having trouble keeping up with the tax laws, or just don’t have time for it anymore, contact Howard Employee Services. We are your trusted all-in-one employee & employer services provider.

Read more

Common Payroll Mistakes and How to Avoid Them

Common Payroll MistakesIt should be easy, work and get paid. Having a seamless payroll system is much more complicated than that. One small component gets overlooked and suddenly tax laws are broken and you’re in trouble. Howard Employee Services has the solution! These are the most common payroll mistakes and how to avoid them.

Missed Deadlines

Keep a payroll calendar, report and deposit payroll taxes to federal and state agencies on time to avoid penalties and interest fees.

The Fix – With an automated payroll system or PEO, you’ll never miss a payment again. Pay schedules will be set ahead of time, thus avoiding late payment penalties.

Poor Recordkeeping

Believe it or not, mismatched names and social security numbers cost companies millions of dollars each year!

The Fix – Double check entries, or hire a PEO.

Missing 1099’s

1099’s are required by law to be sent by January 31st of each year, and for each employee; even independent contractors who receive $600 or more in compensation during a given year.

The Fix – Automated payroll system or PEO to the rescue.

Improper Deduction of Garnishments/Child Support/Levies

When employees owe money due to a court order, the responsibility is on payroll to manage the deductions. When an error occurs it is not easily rectified.

The Fix – A PEO such as Howard Employee Services can easily enter this information once it’s provided.

OT Calculation

Overtime calculation has become a hot topic, therefore very specific guidelines have been set in place. There is no room for employer miscalculation.

The Fix – All hours are recorded and calculated so that nothing is overlooked or missed.

No Backup

What happens in a small business when your payroll manager (or owner) goes on vacation? Do you wait for paychecks?

The Fix – With Howard Employee Services you’re always covered no matter who is available.

If you think you’re vulnerable to any of the above mentioned mistakes, contact Howard Employee Services today! We can help you find a solution!

Read more

What Benefits Will a PEO Offer My Small Business?

Benefits Will a PEO Offer My Small BusinessThere are many benefits to having a PEO manage the day to day tasks for a small business. Many small businesses are owner operated, meaning the owner is on site, performing many of the tasks it takes to make the business run, so there isn’t much time left over to handle payroll and human resource functions. When you hire a PEO they take care of all of that, or only some portions of it you want. Let’s see what benefits a PEO will offer your small business.

Howard Employee Services offers:

  • Payroll Administration
  • Compliance
  • Risk Management
  • Workers Compensation
  • Employee Benefits
  • Employee Relations
  • Bookkeeping
  • Accounting
  • Tax Preparation
  • Tax Filing

Because we offer this all under one roof you no longer need to worry about paying your employees on time. We also make sure that taxes are being withheld accurately. We take care of making sure that sick, and vacation days are accounted for, for each and every employee. Outsourcing these functions are a key benefit to hiring a PEO.

Hiring a PEO takes away the hassle of having to worry about dealing with Workers Compensation claims. We handle it all for you. We identify and help to mitigate that risk before it happens. We can also handle the claims and aim for quicker resolution, with the main goal for these claims being to lessen the cost.

Employees care about benefits, often times more than their hourly wages. Many business owners don’t have the time to shop around to find the best benefits available. Having a Sarasota PEO company like Howard Employee Services to do this for you saves you both time and money, and gives you happy healthy employees.

At Howard Employee Services, our PEO services can provide you with the services you need saving you the time and expense of you doing it yourself. If you’re ready to learn how we can help you outsource your employee administration, contact us today!

Read more

Workplace Compliance

Workplace ComplianceDid you know that as an employer you’re supposed to make sure your employee fills out certain forms? One of those is a W-4. Part of being an employer is making sure your workplace is in compliance with the rules and regulations of the IRS.

IRS-Form W-4

The purpose of the W-4 is to withhold taxes from an employee’s paycheck each pay period. The amount withheld is determined by the number of withholdings the employee claims. This number takes into account the number of dependents they are supporting. The IRS also takes into account whether or not the employee is filing single or jointly as well as other supporting factors. Employers withhold taxes to help prevent employees from having a large tax bill come tax season.

Who Completes the W-4?

Employees must fill out the W-4 themselves, and employer cannot fill it out for them. If an employee needs assistance filling one out, an employer can direct the employee to the withholding calculator on the IRS’s website.

How often is a W-4 Submitted?

A W-4 is submitted each time an employee starts a new job, or when a financial situation has changed. Examples of a change in financial situation include a change in marital status, or a change in the number of dependent children. Updating a W-4 in these situations ensures that the proper amount of taxes is being withheld.

Employer Responsibility

As an employer, if an employee is having too many taxes withheld, you cannot reimburse the employee, but you can have them submit a new W-4 to have the proper amount withheld.

Locate the W-4

To download the most recent copy of the IRS Form W-4, find it here.

Howard Employee Services is a full service PEO, meaning we do this work for you. When you hire a new employee we will provide you with the necessary paperwork to be in workplace compliance with the IRS for your employees. We pass the paperwork to you; you pass it to your employee and send it back to us for filing! Let us do the work for you, contact us today to see how we can help!

Read more

Payroll Processing and So Much More

When a new employee is hired, one of their most important concerns is that they will be paid correctly and on time, so that should be one of your most important goals as an employer. Howard Employee Services takes that worry out of your hands, as well as the other administrative tasks that that it takes to run a business. Our payroll processing team of experts are working for you to make sure that all of your employees are paid correctly, on time, each and every time.

 

 

We offer much more than just payroll processing.

  • We make payroll payments via check, direct deposit, or debit MasterCard’s
  • We keep track of vacation, holiday and sick pay
  • We manage payroll taxes and government reports
  • We process tax withholding in accordance with W4’s per both federal and state rules
  • We garnish wages for IRS levies and child support
  • We provide accurate calculations and tax treatments for the employees portion of insurance and health insurance

When it comes to taxes, we provide W2’s as well as annual printing, distribution and electronic submission to the government. We also offer tax filing and payment. We are here to do the work for you so you can do use the time to grow your business.

There are so many reasons to outsource your PEO, and payroll processing is just one. We also offer employee benefits, we can take care of your employee relations, and we even offer accounting. There’s nothing better than having both payroll and accounting in the same place, all your questions can be answered in house! We’re here to make sure you make the right decisions for your business. If you’re ready to start saving, and start spending more time on your business, give us a call at 941-922-0202 or fill out our form and let us get started today!

Read more

What Is A PEO, Can it Help Your Small Business?

A PEO is a Professional Employer Organization. A PEO can help your small business by doing various functions such as payroll, benefits, employer related administrative functions such as 401k and health benefits. This allows the employer to focus more on the employee and the daily business needs. These are some of the things that a PEO can do for your small business.

What Is A PEO

Benefits

PEO’s can offer better benefits packages when they pool together with their partnered employees, allowing better rates for dental, health and vision. They also allow you to offer your employees better life insurance options, flexible spending accounts, and 401k plans.

 

 

Taxes

Keeping up with tax codes can be a full time job itself. When you hire a PEO, they do all the tax work for you! Not only that, but when tax season comes around they take care of that paperwork as well.

Workers Compensation

Would you know how to file a workers compensation claim? Or what to do if you had to file discrimination claim? When you have a PEO working for you, all of your employee’s concerns and injures are addressed timely and lawfully.

Recruitment and Hiring

PEO’s can even recruit new hires for your company. You can decide just how much of the responsibility you want them to take on. They can run the ad, they can run the interview, it’s all up to you.

PEO’s don’t take over the running of your business, that’s still up to you. They do take many of the responsibilities regarding the paperwork and filing of it. It is still up to the business owners to run the business and the day to day operations.

Hiring a PEO might be the best thing for your business, giving business owners more time to run their business. Now that you know more about them and what they do, if you think it’s for you, give Howard Employee Services a call at 941-922-0202

 

Read more

4 Reasons to Outsource Your Human Resources

Outsource Human ResourcesYour employees are your most valuable asset, so managing them and keeping them happy, especially in today’s society should be a top priority. This makes outsourcing various human resource functions a great decision for many businesses, especially smaller ones. When you have more time to spend on your employees, and someone else to take care of your business needs, you have time to keep your employees happy, and grow your business while saving money!

Some benefits of outsourcing include:

Saving Money

Maintaining a fully functioning HR department in house is very expensive. Especially if your business is small. When HR is outsourced, costs are reduced, and HR functions can fluctuate easier with the needs of the business.

Compliance

Employment laws are changing constantly. When HR is outsourced, that is one less thing that a business owner has to worry about. The HR Company will keep you in compliance which can help to avoid costly lawsuits.

Employee Benefits

As the job force gets more competitive, employers are looking for better ways to entice more qualified employees. An all in one employer service provider can offer access to a comprehensive employee benefits package, which allows you to be more competitive in the labor market.

Efficiency

Outsourcing HR functions help to create greater efficiency within your business. Managers and employers have more time with employees, and the regular day to day operations, rather than spending much of their day doing paperwork, thus improving overall workplace effectiveness.

Why do it yourself when you can have a team of professionals standing behind you to assist you with all of your business needs? Let Howard Employee Services provide you with the relief from the burden of business administration with a wide range of employee service solutions. Give us a call at 941-922-0202, sign up today and start saving!

 

Read more

Why You Too Should Outsource Payroll

payroll servicesSmall to medium sized business owners are all too familiar with the headaches associated with payroll management. In fact, one of the first things business consultants always recommend is to outsource payroll and other non-core functions. A non-core function is anything you can’t charge clients for or use to differentiate yourself from your competitors.

Let’s explore the outsourcing payroll a bit more with a focus on the advantages as well as disadvantages that may be associated with this decision. In a closed perfect business environment outsourcing should have three main benefits:

Frees up Time and Resources

Payroll is a critical function of business operations. However it does not directly contribute to increased sales. Instead it represents a risk as it may increase costs if done incorrectly. This makes payroll an area with a huge con vs. pro margin when it comes to profit margins.

Besides costs payroll represents a huge risk when it comes to legal requirements. Businesses have to conform to various laws from federal to state and local tax laws. These ordinances are forever changing representing a huge amount of time investment to stay in compliance for a business owner.

Historical Data Analysis

Employee salary is often times the biggest expense small to medium business enterprises have to deal with on a yearly basis. One of the ways to mitigate the negative effects of reoccurring costs is to track its historical costs in order to make better financial decisions based on past decisions.

For example, if a certain position has proved to be an issue cost vs. benefit wise you can more accurately catch this with a managed payroll system that provides with graphical data as well as personnel assistance. Without this assistance businesses often risk falling into the trap of repeated mistakes leading to eventual financial ruin.

Risk Reduction

Payroll management services have built in risk management features that a business may not be able to afford on its own. This includes services such as helping a business owner navigate legal issues, requirements, and even guidance when it comes to sensitive employee relation issues. A good payroll service will have an employee relations management department to ensure smooth communication between employer and employee.

Give Howard Employee Services a call today at 941-922-0202 or send us an email for more information on how we can you payroll services to your company too!

Read more
Skip to content