Owning and managing a business is an incredibly rewarding endeavor, but it also comes with its fair share of challenges. Beyond the day-to-day operations, there are numerous aspects to consider, especially when it comes to human resources and compliance. As an employer in Massachusetts, it’s crucial to navigate both state
For many business owners, labor costs will be the highest expense that they endure. Businesses cannot operate without employees, and those employees result in a large percentage of a business’ expenses. The cost of an employee is not just what you pay them hourly or weekly. There are so many
Payroll. It is probably a business owner’s least favorite part about operating a business. But why is this the case? Well, there are a handful of reasons. We like to think that there are 5 big topics that scare a business owner or HR manager when they think about the
Offering an array of fringe benefits is one way for a business to stand out above the competition. With many businesses looking to hire, finding ways to attract and retain top talent remains a priority. One thing that a business could decide to offer its’ employees is what is known as on demand pay.
Final paystubs versus W2s Year end is fast approaching, which means it is almost time for employees to receive their final paystubs of the year. In addition to final paystubs, employers must provide a W2 to each employee by January 31st. But, are final paystubs and W2s the same? Let’s
How to handle a bonus payroll Employers need any advantage available to them in order to attract and retain top talent. Above market wages and strong benefits are some of the top ways for businesses to stand out above the competition. Once a business is financial stable, providing bonuses to
One of the more effective practices businesses use to hire and retain employees is offering a strong benefits package. As with any aspect of payroll, once a business begins offering fringe benefits, tax compliance issues arise. Let’s take a look at how taxes work on employee benefits. What are fringe
Payroll taxes are an employers worst nightmare. Withholding, matching and filing taxes properly can be an administrative burden and costly proposition for all businesses. But, what if your business is a nonprofit organization? Are nonprofits still required to pay payroll taxes? Continue reading for the answer. What is a nonprofit
There are many facets and challenges of running a business. While a potential business owner may be extremely talented in a certain field, being aware of everything that comes with operating a business is essential to long-term success. From hiring and retaining new employees, to knowing and complying with HR
Owning a business comes with many responsibilities. There are the day-to-day operations, the thought of keeping your employees engaged, the tedious balancing of your finances, compliance challenges, and much more. Establishing a foundation of knowledge is key to overcoming these obstacles. There are particular questions that all business owners face