Can Payroll Software Handle Multiple Locations or Branches?
Yes, comprehensive payroll software can handle multiple business locations or branches. Look for software that processes “live” or after-the-fact payroll. Payroll software should also include a simple payer and employee setup process. Managing payroll for multiple branches or locations can feel overwhelming at times. The business and your daily responsibilities will become easier the more […]
Can Payroll Software Generate Pay Stubs for Employees?
Yes, any reliable payroll software can generate pay stubs for your employees. Avoid the tedious process of creating pay stubs by hand. Keep track of your employee wage payments, withheld taxes, and deductions for the pay periods. Payroll software for pay stub generation also reduces the risk of you making errors with your business’s financial […]
Can I Use Software to Generate 1099 Forms?
Yes, you can use software to generate 1099 forms. Filling out 1099 forms by hand is an arduous process that can result in many avoidable errors. A complete database system that generates a variety of 1099 and W-2 forms reduces major input mistakes. Generating your business’s 1099 forms will save you time and money. You […]
Can I File a 1099 Form for a Deceased Person?
Yes, employers should file a 1099 form for a deceased individual who died during the year. Use a Form 1099-MISC to report any payment owed to their estate or beneficiary. You should report the payment regardless of whether you made it in the year of their death or the following year. Report payments for a […]
How Do I Report Income from Employee Educational Scholarships on a W-2 Form?
Report income from your employees’ educational scholarships in Box 1 “Wages, Tips, and Other Compensation” on a W-2 form. Use the form when you accept a graduate student or other type of student who earns income through an assistantship. You will also need to fill out a Form W-2 if your staff hires or brings […]
Can Payroll Software Handle Different Types of Pay Periods?
Yes, the best payroll software should handle different types of pay periods for different workers. Business owners require flexibility as they run payroll in accordance with their specific company needs or desires. Look for adaptive software that allows you to pay some of your employees on a regular weekly schedule while paying other employees bi-weekly, […]
Can Payroll Software Handle Both Salary and Hourly Employees?
Yes, it is possible for your payroll software to handle both salary and hourly employees. Certain employers may prefer to invest in a specific program that caters to a single type of worker over another. Fully functional and adaptive payroll software should let your business run payroll while you spend less time worrying about the […]
How Do I Report Income from Employer-Provided Education Assistance on a W2 Form?
Treat income from employer-provided education assistance as fringe benefits when you report them in Box 1 on a W2 form. Employers enter the value of different fringe benefits in Boxes 1, 3, and 5 on Form W2. Tax-free fringe benefits for employees’ educational expenses reach the limit at $5,250. All parties must generally regard employer-provided […]
Do I Report Income from Employee Tuition Reimbursement on a W-2 Form?
Report your income from employee tuition reimbursement on a W-2 depending on the amount of provided educational assistance. Do not include the benefits with an employee’s wages, tips, and other compensation in Box 1 of a W-2 form if the assistance is $5,250 or less. An employee can exclude up to that value of benefits […]
How Do I Report Income from Employee Transportation Benefits on a W-2 Form?
Use Box 14, marked “Other,” on a Form W-2 if you report income for employee transportation benefits. You should first understand the exclusion rules of certain transportation fringe benefits. Do not report transportation benefits in your employee’s wages if their local transportation usage has little to no value. The IRS outlines that excluding an employee […]