Just What Are ‘Competitive Wages’?
Have you recently gassed up your car or gone grocery shopping at the supermarket? If you have, you understand how inflation is steadily eroding your purchasing power. The cost of living is outpacing wage increases, causing many employees to test the job market to find better compensation. For small businesses to remain competitive, there are […]
Helping Your Employees Self-Service their HR Information
Can employee self-service (ESS) systems allow employees to take care of tasks usually reserved for the HR department? Yes! Employees will appreciate taking charge of their own information and HR staff can be freed for more significant tasks. Here is a list of what employees can do, typically through your payroll system (as well as […]
Can I Modify an Employee’s Time Sheet?
The Fair Labor Standards Act requires that you keep accurate records of nonexempt employees’ hours worked. As a result, you developed a timekeeping system. However, there may be times when your employees’ time sheets need to be adjusted. Are you allowed to make the change?Typically, yes. As noted above, the employer is ultimately liable for […]
IRS Publishes Cybersecurity Advice
Everyone can play a role in protecting personal, financial and tax information from identity thieves and scammers, according to the IRS. For taxpayers, tax professionals and organizations across the tax community, that starts with everyday actions that help strengthen online security. “Criminals continue to look for new ways to steal taxpayer information and exploit trusted […]
Is This Your Situation: Wondering If You’re Ready for a 401(k) Audit
If your company offers a 401(k) plan, you may find yourself facing an audit from not one but two agencies: The DOL focuses on fiduciary standards, breaches and penalties, and the IRS is concerned with whether the plan conforms to the Internal Revenue Code. But regardless of who is executing the audit, the central theme […]