Hiring independent contractors can be a strategic move for business owners who want to tackle specific projects or ongoing business needs. While ICs offer some advantages over traditional employees, correctly classifying your workers is crucial.

By getting up-to-date on payroll best practices, you can create significant efficiencies for both you and your team, leaving you more time to focus on other crucial areas of your business. Here are five essential steps to set your business up for payroll success in 2024.

One of the most essential obligations of a small business owner is ensuring compliance with employee benefits such as paid sick leave. This post will break down what a small business owner needs to know about paid sick leave, so you can keep your team and business thriving.

As a trusted payroll partner, we are here to help safeguard your business from fraudulent practices. Read these tips to help you stay vigilant and protect your small business from ERC scams.

The end of the year is a busy time for everyone, but it's especially important for businesses to stay on top of their payroll. PayWorks has compiled this comprehensive checklist of payroll tasks that need to be completed by the beginning of the new year, as well as some helpful reminders.

For small businesses, the onboarding process is essential to overall productivity. A successful onboarding process ensures that new employees feel welcome and integrated into your company culture and team. This post will walk through the steps to create a successful onboarding process, from before the new hire starts to the months after their first day.

Payroll taxes can be a major expense for small businesses, accounting for up to 15% of total expenses. However, there are a number of strategies that small businesses can use to save money on payroll taxes. This post will discuss a variety of strategies that small businesses can use to save money on payroll taxes.

Workers' compensation is a system that provides benefits to both employers and employees if injury or illness occurs as a result of the job. These benefits can include medical care, lost wages, and vocational rehabilitation. Workers' compensation is designed to help injured workers get back on their feet and return to work as soon as possible.

The trend of having employees work remotely was already on the rise before the COVID-19 pandemic. However, the pandemic accelerated this trend, and now many workers prefer to work from home. As more and more employees work from home, employers need to understand the implications of this shift for payroll tax and labor regulations.

Labor costs are one of the biggest overall expenses for any business, but especially for small businesses. According to the U.S. Small Business Administration, labor costs can account for up to 50% of a company's operating expenses. Payroll taxes are a necessary expense for any business with employees which is why it is essential for your business to budget for labor costs and payroll taxes accurately.

Before you leap…

Determine the Correct Worker Classification

Think about whether it’s appropriate to hire an employee or an independent contractor. Consider how much control you

want to have over the method and means by which the work is performed. Become familiar with how federal and state

agencies define employees versus independent contractors. Choose carefully since mis-classification can result in …

Employees expect to have at least some paid holidays to look forward to, even though there are no federal holiday laws that say you have to give employees the day off for federal or state holidays. As an employer, have you figured out how you're going to handle them?

Minimize your tax bill with some smart planning that will leave more money in your pocket come April 15.