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How to set up a payroll process: 10 steps

Insperity

Not only do you have to figure out the proper way to pay your people, you have to withhold the appropriate taxes, deposit them and report them to the government. Also, there are some states and local governments that require separate ID numbers in order to process taxes. Verify employee classification.

Payroll 262
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What is a PEO?

Insperity

This allows the PEO to handle functions such as payroll, benefits, tax remittance and related government filings. Joining a PEO provides you with workers’ compensation insurance coverage. EEO reporting and claim resolution. One-stop shop. HR administration. I-9 requirements. At-the-ready compliance assistance.

Payroll 253
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Employees at remote-friendly jobs are working from home nearly half the time

Work Life

Five years later, many employers, including JPMorgan, TikTok, Amazon and the federal government , are rejecting remote work, demanding that employees return to the office full time. At the start of 2023, 49% of employers insisted that their staff report to the office daily. But these examples are not the norm.

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Health Care Reform: Is My Business an Applicable Large Employer?

Insperity

Nonprofit, for-profit and government entities are all subject to the employer shared responsibility rules. For 2014 tracking only, the government is allowing employers to use six consecutive months of employee counting, rather than the full 12 calendar months. 1, 2016, you’ll be responsible for filing new IRS reports each year.

Insurance 200
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[Infographic] What can a PEO do for your business?

Insperity

This may include: Health insurance 401(k) retirement plans Healthcare FSA/HSA programs Life/disability insurance 2. Relief from payroll and HR administration overload Pass off your daily HR duties – like administering benefits, managing employee paperwork, processing payroll and tax reporting – to a group that specializes in HR.

Payroll 173
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What are fringe benefits? What employers need to know

Insperity

Though you don’t withhold taxes for these parties, you may need to report the benefit to the government using one of the following forms: IRS Form 1099-NEC for independent contractors IRS Schedule K-1 (Form 1065), Partner’s Share of Income, Deductions, Credits, etc. Independent contractors you hire for a specific job can be recipients.

Banking 255
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Can you outgrow a PEO? Why middle market businesses partner with PEOs

Insperity

These administrative tasks include addressing issues related to: HR-related government compliance and reporting Benefits and COBRA administration Leave of absence compliance and support (FMLA) Employee relations issues. Meanwhile, as employee headcount rises, your HR infrastructure must scale and become more specialized.

Payroll 245