Blog Category

Compliance

owner's draw in a small flower shop

November 8, 2018

The Skinny on Owner’s Draw for Small Business

What’s an “owner’s draw” and how does it work to benefit the business and the owner? Owner’s draw, or simply draw, is money taken out of the business to pay or repay the owner – either for work performed or for funds provided to get the business started or keep it going. Most small businesses […]

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what the affordable care act means for small businesses

November 5, 2018

What is the State of the Affordable Care Act for Small Businesses?

Most of the news once surrounding the Patient Protection and Affordable Care Act (ACA), also known as Obamacare, was about Republican lawmakers looking to repeal the law and Democratic lawmakers holding firm to preserve it. The law’s constitutionality is expected to be challenged again at some time in the not-so-distant future. But for now, much […]

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How are disability payments calculated?

November 2, 2018

How are Disability Payments Calculated?

Despite the importance and prevalence of disability payments, many employers are still uncertain as to how these payments work. This is particularly true because payments and what qualifying factors change over time. Here’s what all employers should know about how disability payments are calculated. How are disability payments calculated? Contrary to what many employers and […]

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paid-sick-leave-law

November 1, 2018

As Regions Implement Sick Leave Laws, Small Businesses See “Huge Learning Curve”

When Minneapolis passed a paid sick leave ordinance, it sought to fill a gap for local workers. There’s no federal legal requirement for private companies to provide paid sick leave, and as much as 28% of workers don’t have paid sick leave. But nearly a year and half after the ordinance went into effect, several […]

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what is an IRA 941 form?

October 30, 2018

IRS 941 Form: Understanding The Basics

The IRS 941 form is one of the most important documents for employers to submit. Filing this form on time will guarantee that your company is adhering to the necessary tax payment and employee wage guidelines. Here’s a quick rundown of the IRS 941 form, including why it’s so important and how to complete it […]

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disability enrollment

October 30, 2018

How Does Disability Enrollment Work?

In the U.S. we have two federal programs—Social Security and Supplemental Security Income programs—designed to provide assistance for those with disabilities. “While these two programs are different in many ways, both are administered by the Social Security Administration and only individuals who have a disability and meet medical criteria may qualify for benefits under either […]

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onboarding personal information

October 24, 2018

What Personal Information Do I Need to Collect from New Hires?

Hiring employees, especially for the first time as a burgeoning small business, can be a daunting task. With strict government processes and contracts involved, complications are aplenty. Once your bases are covered you can integrate those new hires with ease. From the documents you need, to what information you should avoid asking your employees, we’ll […]

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FSA employer contribution limits

October 24, 2018

FSA Employer Contribution Rules

A flexible spending account, or FSA for short, is offered by many businesses. As Healthcare.gov explains, “A Flexible Spending Account (also known as a flexible spending arrangement) is a special account you put money into that you use to pay for certain out-of-pocket health care costs.” The most notable part being, “companies don’t pay taxes […]

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2018 HSA contribution limit

October 22, 2018

What are the 2018 HSA contribution limits?

HSAs are typically used to supplement medical costs and they can cover much more than just medications and doctor visits. There are many benefits to opening an HSA, but how much are we allowed to contribute to them? The 2018 HSA contribution limits maximum is $3,450 for an individual and $6,900 for a family. Savers aged 55 […]

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IRS Form 944

October 19, 2018

HR Basics: Decoding IRS Form 944

Paying quarterly taxes can be a stressful endeavor for small companies. Fortunately, the IRS Form 944 enables small employers to file their taxes only once a year, instead of every quarter. Which employers are eligible for this form and how exactly does it work? What is the IRS form 944? The 944 is an annual […]

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unused sick leave

October 17, 2018

What Small Businesses Need to Know About Unused Sick Leave

Sick leave is one of the most common forms of employee leave offered to workers. Allowing workers to recover from an illness or injury before they return to work not only benefits the employee, it benefits the company. Paid sick time is not a requirement at the federal level: there are no nationwide laws requiring […]

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Guide to tax and IRS forms

October 11, 2018

How to Navigate Different Types of Tax and IRS Forms

Tax time is enjoyed by very few. The process can be cumbersome and confusing, especially for new small business owners. There’s a lot to learn—everything from payroll taxes to specific tax forms—and it can seem overwhelming. With the right information, however, the filing process can be easier than you think. That’s why we’re breaking down […]

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