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As an employer, you are likely familiar with reporting regular wages and taxes withheld on Form W-2. Imputed income is adding value to cash or non-cash employee compensation to accurately withhold employment and income taxes. Employers must add imputed income to an employee’s gross wages to accurately withhold employment taxes.
The cloud-based all-in-one HR platform is best known for its onlinepayroll services. The platform automatically calculates and debits local, state, and federal taxes. Founded 2012. Namely is a complete system that offers employee database, payroll and benefits functions. Founded 2011. Business Size: S M L.
In fact, this statistic reflects a 4 percent increase since 2012, highlighting a growing work-from-home trend in the years to come. Automatically calculate tax withholdings. Deliver payroll by check or direct deposit. Also read: HR’s Future is Big Data. Manage employee bonuses and off-cycle pay runs.
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