Payroll processing requires an EIN, pay schedule, gross pay calculation, deduction management, and tax withholding. Follow these steps to run payroll.

When my father started our CPA firm in 1971, he built it on relationships and a simple belief: Small businesses are the ...

Payroll and HR go beyond just issuing paychecks. As an employer, you need to track hours, calculate deductions, file taxes, ...

FICA dates back to 1935, the same year the U.S. established the Social Security program. In 1965, FICA was expanded to ...

The rule has limitations, and the IRS has yet to provide clear guidance on how companies should report qualified overtime compensation.

For example: On $40,000 annual pay, payroll tax deduction would be about $3,060. On $60,000 pay, about $4,590. On $80,000 pay ...