How to Reduce Your Business’s Payroll Costs: Strategies for Budgeters 
Patriot Software » Payroll
by Rachel Blakely-Gray
3d ago
For many businesses, payroll is the largest expense. The cost of an employee can be 32% more than their wages. Plus, you have to pay for the cost of running payroll. But savvy business owners know there are ways to cut back on expenses, including payroll costs.  Thirty percent of business owners cite managing business […] Read More ..read more
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OASDI Tax: Old-Age, Survivors, and Disability Insurance (OASDI) Tax Deductions
Patriot Software » Payroll
by Rachel Blakely-Gray
3w ago
Tax withholding is an essential piece of the payroll puzzle. One of the taxes you must withhold from employee wages is the Old-Age, Survivors, and Disability Insurance (OASDI) tax. You must also contribute an employer portion of the OASDI tax. OASDI tax is more commonly referred to as Social Security tax. How much is OASDI […] Read More ..read more
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What Is an Employee Assistance Program (EAP), and Is it Taxable?
Patriot Software » Payroll
by Rachel Blakely-Gray
1M ago
Benefits matter to 81% of employees, which means your benefits package is an important recruitment and retention tool. From traditional benefits, like health insurance, to newer benefits, like student loan repayment, you’re always looking for the next best thing. Have you heard of employee assistance program (EAP) benefits? What is EAP, exactly? Just over half […] Read More ..read more
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Workplace Injury: What to Do When an Employee Is Injured at Work
Patriot Software » Payroll
by Rachel Blakely-Gray
1M ago
Employers reported over 2.8 million injury and illness cases in 2022. A workplace injury can happen in any industry, from manufacturing to finance. You must cultivate and maintain a safe work environment for your employees. Prepare for injuries. Prevent injuries. And have a plan in place to respond to injuries.  Workers’ comp insurance, personal protective […] Read More ..read more
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Payroll KPIs and Statistics: Small Business Payroll Performance
Patriot Software » Payroll
by Rachel Blakely-Gray
1M ago
Running payroll is more than cutting employees a check for their hours worked. Payroll takes time. A lot goes into calculating and withholding taxes and deductions. There’s room for mistakes and opportunities for improvement. You can use payroll KPIs, or key performance indicators, to analyze how well you manage payroll. How long does it take […] Read More ..read more
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How to Hire and Manage Temporary Employees
Patriot Software » Payroll
by Rachel Blakely-Gray
1M ago
Do you need an extra set of hands for a few weeks or months? You may opt for a temporary employee. Temporary employees can cover for employees on leave, help during your busy season, or fill in gaps in the workplace. Hiring temporary employees can help you avoid overhiring. It’s a commitment-free approach to hiring […] Read More ..read more
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How to Calculate Hours Worked for Payroll [+ Tools to Use]
Patriot Software » Payroll
by Rachel Blakely-Gray
2M ago
You must know each employee’s hours worked to run payroll. To do that, you must calculate hours worked. So, what does the process of calculating hours worked look like? Learn how to calculate hours worked step-by-step below, plus get an in-depth example. *I don’t want to do the calculations. Show me how software can do […] Read More ..read more
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New Overtime Rule for 2024: How Will it Affect Your Business?
Patriot Software » Payroll
by Rachel Blakely-Gray
2M ago
Starting in July 2024, four million new workers will become entitled to overtime pay, thanks to the Department of Labor’s (DOL) new overtime rule. What does this DOL overtime rule update mean for your small business? It may mean that you need to change your employees’ classification. Employees who were recently considered exempt may now […] Read More ..read more
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Payroll Cutoffs: Best Practices to Pay Your Employees on Time
Patriot Software » Payroll
by Rachel Blakely-Gray
2M ago
Paying your employees on time is essential, especially because 62% of Americans live paycheck to paycheck. Plus, many state pay frequency requirements regulate when you pay employees. Understand payroll cutoffs to pay your team on time, every time. So, what is a “payroll cutoff?” What is a payroll cutoff? A payroll cutoff is the date […] Read More ..read more
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What Is an Exempt Employee?
Patriot Software » Payroll
by Michele Bossart
2M ago
Are all of your employees eligible to receive overtime pay? Some employees are exempt from overtime pay and minimum wage laws. Exempt employee qualifications are determined by the Fair Labor Standards Act (FLSA). To run payroll correctly, you need to be familiar with exempt employees. What is an exempt employee?   What is an exempt […] Read More ..read more
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