Auburn-Opelika (334) 887-7022 | Montgomery (334) 244-8900

Returning Value Blog

Staying Current on Payroll Rules

Posted by Amber Malik on Jan 11, 2023

Hiring staff? Good for you! It means your business is thriving. Now is the time to get up to speed or reacquaint yourself with any labor laws you’ll need to be compliant with. Labor laws were created to protect employees’ rights. If you’re vigilant, you can avoid financial headaches. Here’s some advice to stay on track with labor law requirements:

Full Story

Posted in Payroll, HR & Benefits

How to Manage a Payroll Schedule

Posted by Murry Guy, CPA on Nov 30, 2022

Learn how to create an effective payroll budget to avoid wondering how and where your money was spent. Creating a payroll budget helps you understand what percentage of your budget should go to payroll and enables you to stay on track throughout the year. Generally, payroll should account for about 15% to 30% of your company’s gross income, but with service industries, costs can be as high as 50%.

Full Story

Posted in Payroll, HR & Benefits

How to Set Up and Maintain Payroll Policies

Posted by Murry Guy, CPA on Nov 16, 2022

The endgame is accurate and timely employee paychecks. How do you get there? Have a payroll plan that outlines what the procedures are to get to your goal.

Full Story

Posted in Payroll, HR & Benefits

How Do Taxes Work With Bonuses?

Posted by Murry Guy, CPA on Nov 02, 2022

Bonuses, frequently given at the end of the year, is a popular "thank you" for a job well done, and smart business owners know they can build loyalty, helping retain the most productive employees. However, both owners and employees often misunderstand how taxes work with bonuses, leading to confusion and frustration. Fortunately, with some education and preparation, the situation can work out for everyone.

Full Story

Posted in Payroll, HR & Benefits

Is This Your Situation: Sorting Out Payroll Categories

Posted by Becky Snedigar on Sep 08, 2022

Distinguishing between independent contractors and employees is important for both tax and financial reasons. In order to comply with federal tax laws, you've got to be crystal clear about your workers' status and keep accurate records no matter what. Here's how to distinguish between independent contractors and employees – and why it's important.

Full Story

Posted in Payroll, HR & Benefits

For Retro ERC, Use Form 941-X

Posted by Becky Snedigar on Aug 03, 2022

Form 941-X, Adjusted Employer's Quarterly Federal Tax Return or Claim for Refund, maybe your key to getting all the Covid relief your business is entitled to. It's a 30-page form, and the rules are complex, but here are the basics.

Full Story

Posted in Payroll, HR & Benefits

What's the Deal With Health Savings Accounts?

Posted by Becky Snedigar on Jul 20, 2022

Health savings accounts are paired with high-deductible health plans for an especially adaptable insurance and savings program. HDHPs have large deductibles that members must meet before receiving coverage. Participants meet those deductibles by contributing their own money to HSAs. The government does not tax these funds as long as they're used to pay for qualified medical expenses.

Full Story

Posted in Payroll, HR & Benefits

Companies Need to Pay Attention to Gen Z

Posted by Amber Malik on Jun 22, 2022

Finding talent is an issue for nearly all businesses. There are many reasons for this, but the top three may be (1) adjusting to a new normal that is not yet fully formed, (2) the generational shift in leadership, and (3) the scarcity of talent. The result of this confluence of issues is that leaders must be able to be flexible. One of the ways they need to be flexible is learning new ways to manage a multigenerational workforce.

Full Story

Posted in Payroll, HR & Benefits

Top Benefits of Hiring Outsourced Accounting Services

Posted by Becky Snedigar on Jun 08, 2022

Do you outsource HR and IT but feel squeamish about letting someone else get too close to your numbers? You probably have a fluctuating need for a bookkeeper, an accountant, a controller, and a chief financial officer. You could hire all these people, but outsourcing can provide these services when you need them at significant cost savings.

Full Story

Posted in Payroll, HR & Benefits

Payroll Compliance: The Essentials

Posted by Amber Malik on Jun 02, 2022

Payroll compliance is about meeting your payroll obligations as required by law. Learn how your organization can stay compliant.

Full Story

Posted in Payroll, HR & Benefits

Recent Posts

Returning_Value