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Whether we like it or not, at some time during the year chances of needing a sick day are likely.  Maybe the time is required for oneself or to care for a family member.  Either way, most full-time employees in the state of Massachusetts have the right to use earned sick time.  However, each company is different in their policies.  While it is always recommended to familiarize yourself with your employer’s policies, it is also good to know your rights.  This article will give an overview of the guidelines to follow when it comes to both employer and employee rights in Massachusetts.  Offering payroll services in Massachusetts, abc Payroll goes above and beyond the traditional payroll systems.  Providing professional expertise, abc Payroll is an excellent solution for your business needs.

Overview

A business calendar year is considered any consecutive twelve-month time period which is determined by the company.  Within the calendar year, employers must provide their employees one hour of earned sick-time for every thirty hours worked.  Thus, employees are generally granted forty hours (or one week) of usable sick-time per year.

Compensation

More often than not, earned sick-time is compensated to the employee at the regular hourly rate they receive while working.  For salaried employees, those paid on piece work, paid on commission, or receive tips to compensate minimum wage discrepancies, there are specific calculations to determine how sick-time should be compensated.

Usage of Time

In general, when utilizing earned sick-time, it is for specific categories of care.  You may need care for your own physical or mental illness from a provider or with at-home treatment.  Maybe your attention is needed for the care of your children, spouse, or parents.  Sick-time also covers the need to attend medical appointments for self or family. As well as a range of issues concerning domestic violence.

Documentation

Often people are asked for evidence of illness by their employer.  Is this allowed? The answer is yes.  Employers can ask for a doctor’s note.  However, this rule is permitted only under certain circumstances.  For example, if an employee is to miss more than three consecutive workdays, the employer is within rights to ask for the medical note.  The note, however, does not need to entail details, and employers are not allowed to ask for that information.

With over 30 years of experience, abc Payroll takes great pride in the level of service they provide to their customers.  Whether your need is for a payroll company, tax, or bookkeeping services, abc Payroll is there to assist you.  Covering industries from construction to florists, no company is too big or too small.  Contact them today and let their expertise in payroll systems bring ease to your financial stresses (978) 252-3003

The post Massachusetts Payroll Sick Time Law appeared first on ABC Payroll.

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ABC Payroll by Abc Payroll - 3M ago

With the tax season underway, many of us are seeking out answers from a professional tax advisor.  One common question that arises in New Hampshire revolves around filing personal income taxes.  NH is one of the nine states in the U.S. that does not require residents to file an income tax return.  Although reportable wages and salaries are not subject to income tax, the state does have its share of reportable tax requirements.  Below are a few common, and maybe not so common, items that should not be overlooked.

Interest and Dividend Income

Did you know that interest earned over the amount of $10 is required to be reported? Interest is per entity: per savings account, per CD, etc. A 1099-DIV will be sent to the individual informing of the exact amount earned from the particular company that holds the funds.  The state of NH requires an income tax return be filed if the amount of reportable interest is over $2,400 ($4,800 if filing jointly).  Residents are then taxed 5% on the total amount reported.  Although this is typically is not the primary source of income for most, it is still considered income.

Like most things, there are exceptions to this rule.  Individuals aged 65 years or older may receive a $1,200 exemption.  Along with this group are those individuals who have been deemed unable to work, and those who are blind or have other disabilities.

Property Tax

If you are a resident of New Hampshire, you are fully accustomed to paying property taxes.  The state ranks third in the U.S. for highest property tax rate.  New Jersey and Illinois are the only two states with a higher standard.  The calculation on property tax is based on the fair market value of the home, which is always changing.  For most, the annual rate seems to increase each assessment.

Timber Tax

Say what? Yes, timber.  Growing of woodland for future business interests is taxed 10% by the town or city which the wood is being produced.  The value is based on the tree stump size and amount of wood that will be usable.

These are just a few of the items taxed in New Hampshire.  Food and beverage, room and board, tobacco, and utilities are few more.  So to answer the question, is NH income tax-free? It’s safe to say, yes and no.  When in doubt, a full-service company like abc Payroll is there to help.  Contact them today to discuss your income tax options at 978.251.3003.

The post Is NH Income Tax-Free? appeared first on ABC Payroll.

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ABC Payroll by Abc Payroll - 5M ago

Depending on the state you live in, your service employees may be legally entitled to sick time based on the hours they log on the job. However, other benefits you offer can grant them compensation such as holiday and vacation time. As the year comes to a close, and the holidays take their toll on bank accounts, your employees may begin asking questions about the time they’ve earned in these hours. Luckily, your payroll in CT makes it easy for them to keep track of their time. You can tell your employees that their hours are listed with each pay stub.

Sick Time

In 2012, the way sick time was handled in Connecticut changed. The Paid Sick Leave Act was created to help workers maintain a consistent paycheck during weeks they have to miss work due to an illness. The law states that for every forty hours worked, a service worker earns one hour of sick leave. Another aspect of this sick time law is the option to carry over up to 40 hours of unused time to the subsequent year. (note that I removed a sentence here about getting paid out) Let your employees know that your payroll in CT is keeping track of this for them, and they can find the information at the bottom of each paystub.

Holiday and Vacation Time

There is no law in Connecticut requiring holiday or vacation pay. This is viewed as fringe benefits to be decided upon by each employer at their discretion. Some businesses may choose to award holiday time as opposed to vacation time, while some decide to give both. How you determine how much holiday and vacation time you grant depends on what best fits your business model. Depending on your number of full-time vs. part-time employees, how you choose to award holiday and vacation time may vary.

Paying attention to the money your workers are entitled to is always essential during the end of the year. With the holidays upon us, employees may ask about getting paid for unused benefits, if your policy allows it. When they start asking questions, educate your employees. Let them know that your payroll in CT has them covered with each amount of benefit time printed on their pay stubs. For payroll services, contact abc Payroll at 978-251-3003 or visit us online.

The post Keeping Track of Your Time appeared first on ABC Payroll.

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ABC Payroll by Abc Payroll - 6M ago

There’s no denying it: winter isn’t just coming, it’s upon us. As November and December roll around, the air gets colder and holiday joy abounds. Unfortunately, the holidays can cause just as much stress as they do delight. With the winter holidays comes a lot of spending. From gifts to party planning to travel, you need to make sure your bank account can take the blows. With every check that comes in from payroll companies, you have the opportunity to budget appropriately. Following these holiday budget advice, you can come out of this season with no stress and a sizable bank account.

Set Limits

People have trouble with restraint. Especially in modern society, impulse control takes a back seat to instant gratification. That is why setting limits on your spending is essential to affording the holidays. Look over your accounts and determine how much money you need for bills and living expenses, consider anything left your budget for holiday spending.

Make Your List, and Check it Twice

It’s hard to tell you, but you are not Santa Claus. It isn’t your job to buy gifts for the entire world. You should prioritize your Naughty and Nice list to the people you care for. Family and close friends will make the list, but you shouldn’t feel obligated to buy a present for every distant cousin four times removed. Think of who you love the most because that will be your list for the season.

Take Advantage of Sales and Deals

The winter is the season of deals. Before you go out and buy everything for your loved ones, look at the flyers and circulars big department stores send in the mail. Keep an eye on when your payroll companies send your check and try to plan which stores you shop at based on whose deals fall on payday.

Holiday shopping doesn’t have to break the bank. If you pay attention to when payroll companies deposit your check into your account and follow these budgeting tips, you’ll come out of this season feeling the joy. For financial services, contact abc Payroll at 978-251-3003 or visit us online.

The post Holiday Budget Planning appeared first on ABC Payroll.

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ABC Payroll by Abc Payroll - 7M ago

Filing taxes is not a task for the faint of heart. There are multiple forms, there are a lot of questions about these forms, and there’s a lot of room for error. All it takes is one wrong number in one wrong column, and you go from receiving a refund to owing money. Outside of filing your taxes incorrectly, there are a myriad of other issues that can come with taxes. Whether filing your federal, state, or income tax in MA, always use a reliable tax specialist to avoid any problems. Here are three of the most significant tax issues Americans face each year:

Gross Income

Gross income is a term that many people misinterpret. After all, a lot of phrases dealing with taxes surround the word income. Your gross income is all the money that you’ve made throughout the year before any deductions are made. Your gross income isn’t just your salary. There are other forms of payment that can contribute to your income including interest, dividends, alimony and settlement proceedings. Understanding your gross income is the first step in avoiding tax issues.

Business Expenses

Business expenses are a huge factor in filing taxes for a small business owner. The best strategy to avoid issues surrounding trade and business expenses is to keep accurate and relevant files. The next step in reporting business expenses is to understand what qualifies. For example, a night out for dinner and a movie does not count as a business expense. Your flight from your place of business to a hotel for a conference does count as a business expense. For any questions about what constitutes a business expense that can affect your income tax in MA, talk to your tax specialist right away.

Failure to File

There is a reason the beginning of each year is referred to as “tax season.” Every year taxes have a deadline by which they have to be filed. Filing late or failure to file at all can result in fees and/or potential jail time. The same goes for payments. If you’ve filed and were informed you owe the IRS, there is a specific window in by which you have to make that payment. Don’t take a chance of missing the deadlines. Keep in touch with your tax specialist.

There are so many fine details when it comes to filing your taxes. Make sure none of these details are overlooked when it comes to your income tax in MA. So talk to the professionals at abc Payroll. Contact them at 978.251.3003 or visit them online today!

The post Top 3 Common Tax Issues appeared first on ABC Payroll.

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There isn’t a person alive who thinks of taxes without a tiny flutter of worry in their stomach. Taxes are a seemingly minor American responsibility that affect our lives in very tangible ways. There is a huge difference between getting a tax refund and having to make a tax payment. Though tax season is a few months away, it’s never too early to prepare. The more ready you are, the more helpful your local tax specialists in Chelmsford MA are going to be for you. Here are three questions you should ask your tax specialist:

How can I prepare for tax season?

It’s all about preparation. That’s why you’re reading this article, isn’t it? By talking to your tax specialist in the interim, you can know how to better keep records, manage your money, and understand what taxes you need to file for tax season. By asking your tax specialist what you can do to prepare, they can start looking for tax credits and deductions that may apply to you. This way you’re both doing everything you can to make the most of your tax return.

What should I consult with you about outside of tax season?

The vast majority assumes taxes are only dealt with once a year. For many that is true, but there are circumstances outside of tax season where you should contact your accounts. For example, small business owners have a lot of paperwork to keep track of. Talk to your tax specialists in Chelmsford MA regularly to stay organized. In many circumstances, life events like marriage, pregnancy, and death can affect your taxes. These are times to meet with an tax specialist to discuss your options.

What are some common tax mistakes I should avoid?

Taxes are easy to mess up if you don’t know what you’re doing. Common tax mistakes can include misrepresented gross income, unreported or misrepresented business expenses, and even failure to file on time. These mistakes are easily avoided when you file with a certified tax specialist.

Don’t take a risk on your taxes. Be sure to make the most of your return by preparing for tax season now. Your tax specialists in Chelmsford MA are here to help. Contact abc Payroll at 978.251.3003 or visit them online today!

The post Questions to Ask Your Tax Specialist appeared first on ABC Payroll.

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ABC Payroll by Abc Payroll - 8M ago

It’s easy to get flustered when keeping track of every financial occurrence at a business. From sales to purchases, they can add up fast and keeping on top of it can be confusing. One of the services offered at abc Payroll is bookkeeping. Bookkeeping is the process of recording financial transactions on a daily basis. It’s a bookkeeper’s job to take record of payments and receipts in a ledger for the business. While some small businesses  can get away with using accounting software on their own, it’s best to have someone specialized in financial record keeping and accounting rules. Abc Payroll in Massachusetts can handle all your bookkeeping needs.

Tracking Expenses

Businesses of every size can use a professional bookkeeping service. There are so many benefits to letting the pros handle that while you focus on other responsibilities owning a business requires. Expenses can add up fast and overwhelm business owners. Professional bookkeepers track your expenses and help make sure you aren’t spending more than you’re making. You can ease your mind knowing that nothing is missed and not a dollar is going unaccounted for.

Seeing the Profits

The point of any business is to make a profit. Part of this comes from the services or goods the business offers. Florists aren’t in competition with construction, yet all have the same goal of putting money in your bank account. Hiring a professional bookkeeper in Massachusetts allows you to see the profits in comparison to expenses.  You never have to wonder just how much you’re putting in your pocket at the end of the week.

Handling Taxes

Taxes are intimidating to anybody who doesn’t work in them every day.  If there is any error in your bookkeeping, there can be fines from the government among other consequences. This is one reason to be jealous of CPAs and payroll companies because they know how to handle taxes efficiently for maximum return. That expertise at what they do is exactly why every business should hire a professional bookkeeper. They keep an accurate, daily record of all your business financial standings for you so you won’t have to worry come tax season.

If you’re a small business owner considering hiring a bookkeeping service, do it. The old adage of better safe than sorry should be your go to. Numbers, taxes, and finances are complicated and overwhelming so it’s best to let the professionals handle them. With abc Payroll in Massachusetts, you will receive hassle-free and professional bookkeeping. For more information, contact abc Payroll at 978.251.3003 or by clicking here.

The post When You Need Bookkeeping appeared first on ABC Payroll.

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Once a company is all laid out on paper and the place of business is ready for the grand opening, the next step is to hire yourself a qualified staff. With hiring employees and independent contractors comes ensuring those workers are paid for their labor. No matter what phase of business you’re in, just starting out or already with an established customer base, it’s never too late to make sure you have the best payroll service for you. For payroll in Connecticut and Massachusetts, abc Payroll can help you make sure you and your employees are paid on time.

Checks

When it comes to payroll in CT, you need to keep a handful of things in mind. You need to establish your pay periods and paydays. You also need to take employer and employee taxes into account. Abc Payroll can help you keep track of all that. Their services include laser printed and security sealed checks. This is an important aspect of payroll. Very few cash-checking locations aside from banks will allow the cashing of hand-written checks.  For an even more convenient option, abc Payroll offers direct deposit and paycards.   Employees can avoid that trip to the bank and instead rely on their net pay being directly deposited on payday.  Paystubs and check registers are provided for record keeping.

Reports

Abc payroll also offers to its clients payroll journals, accruable benefits reports, new hire reports, timesheets, and quarterly payroll reports. These reports help you stay organized and keep up to date with the goings on of your payroll services. Whether you or your employees have questions on where they stand on benefits, you can check the report. These reports allow you to focus on running your business but still keep updated on payroll.

On top of your payroll in CT, abc Payroll offers it’s services when it comes to bookkeeping and income tax as well. It’s a one stop service to keep your payroll organized and stay on top of financial aspects that affect your business. No matter the size of your business, and no matter the industry, these services are a necessity to keep it running smoothly. For more information, contact abc Payroll at 978.251.3003.

The post The Best Accounting in CT: abc Payroll appeared first on ABC Payroll.

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Tax season is a stressful time for most people. Figuring out what form to fill out and keeping financial records for yourself throughout the year can confuse even the most organized people. It gets even harder when your “tax guy” is only in business a few weeks throughout the year and you need help on their off week. For small business owners, you can’t afford to make mistakes on your taxes. For individuals, it can be the difference between a vacation or an audit. One wrong answer on a form can be the difference between your business going on to a long and successful future and a hefty fine (or worse) from the government. One type of tax that throws some for a loop is Income Tax. Don’t take any chances, and hire abc Payroll to handle your income tax for you.

Who?

While only some states have local income taxes, more states have to worry about state and federal income taxes. This is a tax from the government put directly on the money you make each year. Nobody is exempt from paying their taxes. Both individuals and businesses are required to file taxes and report their income annually. Filling out the correct forms and keeping accurate records of your finances throughout the year can be tricky for those who don’t know the ins and outs of taxation. It is always the best choice to contact a professional during tax season. Available 52 weeks a year, abc Payroll specializes in complex tax returns and can handle both individual and corporate tax returns.

Why?

The reason for income tax is to keep the government running. These taxes are used as revenue to pay public servants and work on infrastructure. The percentage for federal income taxes is higher because income taxes make up a higher percentage of their revenue. Because states have other forms of taxation, their income tax tends to be lower on individuals and businesses. It’s important to make sure filing your income tax is done correctly. Otherwise the IRS can charge penalties and open investigations to those whose finances don’t add up.

Taxes are no joke. The risks of handling your own taxes and making a mistake are too high not to hire a professional. Whether you’re an individual or a business, tax season shouldn’t stress you out. With friendly, professional services available, why not have them handle the paperwork? To make sure all your taxes are done correctly and ease your mind, contact abc Payroll at 978.251.3003 or click here.

The post What Exactly is Income Tax? Ask abc Payroll appeared first on ABC Payroll.

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ABC Payroll by Abc Payroll - 9M ago

abc Payroll in Massachusetts is a payroll, tax and bookkeeping company certified by SOMWBA. As one of the fastest growing payroll companies in the Merrimack Valley, abc Payroll has worked with companies in many industries. This includes restaurants, landscaping, contractors, auto repair and many more.  Among the services offered to make your business run smoother, abc Payroll offers ProPayPlus. What exactly is ProPayPlus? Here are some of its features.

Traditional Features

Included with ProPayPlus are the traditional payroll services.  abc Payroll ensures its payroll customers receive laser printed and security sealed payroll checks for their employees and independent contractors. They also provide time sheets, check register, payroll journals, general ledger entry, and deduction registers. These standard reports help clients stay up to date with payroll services activity.  Additional optional reports such as accruable benefits reports, new hire reports, and quarterly payroll reports are also available. Reports can be provided in print form or electronically in our secure client portal. In addition to reporting, abc Payroll’s ProPayPlus goes above and beyond with it’s extra features.

Extra Features

ProPlayPlus focuses on convenience and attention to detail.  abc Payroll takes responsibility for, and provides, accurate payroll tax filing and payment.  All filings comply with EFTPS Federal Mandates. With abc Payroll’s automatic tax filing and payment, there’s no worry about getting payroll taxes for your business done on time.  In addition, ProPayPlus includes W2 & 1099 forms and filing at year end for businesses that continue using abc Payroll services. Another feature that puts ProPayPlus at the forefront of payroll services is Electropay. This feature provides direct deposit for even the small businesses.

It’s no secret that all businesses need a qualified and efficient payroll company. There’s no need to settle for simply receiving paychecks when abc Payroll can do so much more for you. On top of their traditional payroll services like printed checks and accurate reporting, ProPayPlus takes their service to the next level. ProPayPlus can handle payroll and tax filing for your business to take the worry off of your mind and let you focus on the day to day aspects of running your business.

The post What Is ProPayPlus? appeared first on ABC Payroll.

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