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4 Compliance Strategies that Create Labor Efficiencies

HR Bartender

So, making sure that organizations have the systems in place to properly manage the payroll process is vital. That includes compliance with employment tax payment and reporting rules with each of the various local, state, and federal agencies to avoid penalties. 2 – Operational Efficiency with Systems and Service.

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Strategic Compliance: Wage Garnishment Risk Avoidance

HR Bartender

That’s the payroll department. Payroll departments do handle the processing of wage garnishments. We need to know how to answer questions and support payroll processing. In the ADP Research Institute white paper “ The U.S. Tax levies is second at around 19% and bankruptcy orders are third at 5%.

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HSA vs. 401k vs. IRA: How do these retirement accounts stack up

WEX Inc.

An HSA is … A health savings account (HSA) is a tax-advantage account that participants can pay for healthcare expenses, save for the future, and invest to build your savings. A 401(k) is … A 401(k) is a retirement savings plan offered by many employers that provides tax advantages.

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How HSAs can transform retirement planning and your common questions

WEX Inc.

Click below to get your free HSA retirement white paper. HSA contributions made through payroll are not subject to the 7.65% FICA tax. Withdrawals for HSA eligible medical expenses are tax-free. HSA funds can be invested , and earnings through investment accumulate tax-free. Yes,” Cook said.

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Understanding Payroll Deductions and Employee Benefits Taxes

Hppy

Employers have the responsibility to accurately calculate payroll deductions and pay employee benefits taxes. Payroll Deductions. There are some payroll deductions that are completely necessary and you must calculate them correctly. These include Social security, Federal tax and state and local tax.

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The New #FLSA Overtime Changes: Make Sure Company Policies Are Aligned

HR Bartender

They’re also having internal discussions about how to manage overtime pay and payroll expenses. The information we’re covering is for general informational purposes only and does not constitute legal advice, tax advice, accounting services, or professional consulting of any kind. Exploring the Overtime Policy Piece.

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Automating HR Tasks For Workplace Efficiency

Hppy

Here are four ways that HR professionals are currently using automation to streamline their job functions: Payroll. Payroll is the most commonly automated aspect of HR today. The primary reasoning behind automating payroll is to save time and eliminate human error. Background Checks/Reference Checks.