The Great Payroll Debate In-House vs Outsource

The Great Payroll Debate In-House vs Outsource

Seen by some as a cost savings, processing payroll in-house is a time-consuming process that increases the likelihood of errors and compliance missteps. In fact, organizations that outsource payroll and other HR functions spend on average 27% less than those that manage the tasks in-house.

Check out this short overview to learn how the right HR and payroll partner can free up your time so you can focus on your customers and protect your business from costly mistakes.

More to Discover

What is a W-4 Form?

What is a W-4 Form?

What is a W-4 Form? W-4 forms are essentially very basic tax returns filled out by employees. Specifically, it tells employers the correct amount of tax to withhold from the employee’s paycheck. Need a W-4 Form? Download it here. Why are W-4s important? The accuracy of an employee’s W-4 submission will determine the size of their tax refund (or bill) at the end of the year. The amount withheld should be as close as possible to their actual tax obligation—a big deficit can be an unwelcome surprise and may be accompanied by further penalties. Withholding more than necessary is considered by some employees as an easy way to save but, while refunds may seem like a nice treat, you are taking away the chance for employees to invest (or use)...

W-2 Employer Responsibilities

W-2 Employer Responsibilities

What is a W-2 Form? W-2 forms are an important part of employees’ tax filings, listing all wages and salary paid along with the amounts withheld for taxes and benefits. W-2 forms include information about your business and employee details along with how much employees earn (including tip income), how much they withhold for tax (as specified on their W-4 form) plus social security and Medicare contributions, also factoring in retirement and special benefits plans. A W-2 form is required for all employees. However, for independent contractors, for whom taxes are not withheld, an employer is required instead to submit a 1099-MISC form, which simply reports payments. (Here’s how to figure out whether someone is an employee or an independent...

Case Study: Price Brothers, Inc.

Case Study: Price Brothers, Inc.

A need for robust reporting tools and a modern HR and payroll platform with onboarding capabilities led Price Brothers, Inc., to Paycor. “We’re constantly hiring and looking for skilled trade help on a daily basis. Now they can fill out the application online and we can email them the new-hire paperwork. They can complete everything online before their first day.” - Kim McLaughlin, CFO, Price Brothers, Inc. Why Price Brothers, Inc., left their payroll provider Price Brothers, a Charlotte, N.C.-based plumbing contractor who specializes in new-home construction, needed a more modern HR and payroll platform that could keep up with their growing business. Their former solution wasn’t intuitive and didn’t collect all the data they needed for...

2020 Small Business Health Insurance Requirements

2020 Small Business Health Insurance Requirements

Small business owners aren’t insurance experts and they shouldn’t have to be. Many businesses are so small that the folks in charge of evaluating benefits packages are sometimes in the dark about the myriad compliance requirements surrounding health insurance coverage. Even though small businesses that employ fewer than 50 full time employees aren’t legally bound to offer health insurance, many of them offer coverage to improve employee engagement and morale and also to attract the best talent. So, if your company plans to provide health insurance for your employees, it’s important that you understand your choices and the laws around them.If you’re looking to offer health insurance in 2020 you should consider adding these five popular...