Payroll and HR news

New Penalties for Worker Misclassification in New Jersey

January 23, 2020 | posted by Abacus Payroll

News Alert New Misclassification Crackdown

Classify correctly or pay up. New Jersey Governor Murphy signed a package of bills into law this week in an effort to hinder the growing trend of worker misclassification in the state of New Jersey. While you may not find yourself in the percentage of employers who are purposefully misclassifying as a way to avoid […]

Upcoming Small Business Filing Deadline You Don’t Want to Miss

January 21, 2020 | posted by Abacus Payroll

Form W-2s and most 1099-MISCs are Due Jan. 31 If you own your own business or have a side business in addition to your regular job, you may need to send out several IRS forms by Jan. 31 this year. The deadline is for forms you issue to employees and others who were paid as […]

What NJ Employers Need to Know About Employee Salaries in 2020

January 20, 2020 | posted by Abacus Payroll

As a business owner, recruiting, interviewing and hiring new employees is nothing new. However, new state legislation may very well impact your hiring process—and the penalties of not abiding are costly. In an effort to strengthen equal pay protections for Garden State workers, two bills have gone into effect: 2018’s New Jersey’s Equal Pay Act […]

Stop Making These 8 Payroll Mistakes

January 15, 2020 | posted by Abacus Payroll

Payroll mistakes are messy, and they rarely resolve themselves expeditiously; in fact, more than one payroll error in a year can result in employees seeking alternative employment. Additionally, making a mistake with your payroll can cost your company countless hours—and dollars—to resolve. If you’d like to hold onto your employees and avoid hefty legal fees, […]

Avoid Misclassification: Understand Independent Contractors

January 9, 2020 | posted by Abacus Payroll

The seemingly simple question of “employee or independent contractor?” is often the subject of many complicated and costly audits. As the gig economy continues to grow, employers should familiarize themselves with the distinct characteristics of which is which in order to steer clear of misclassification penalties. The best way to avoid misclassifying workers is to understand […]

Creating a New Years Resolution for Your Business

January 7, 2020 | posted by Abacus Payroll

If you think resolutions for a new year are corny, you aren’t alone; plenty of people have sworn off of the “new year, new me” mentality in favor of less aggressive goal-setting. Whichever way you look at it, however, curating manageable milestones for 2020 will only serve to elevate your business’ success and bring your […]

The Cost of Hiring New Employees: 4 Things to Know

January 3, 2020 | posted by Abacus Payroll

It’s no secret that the hiring process takes time, patience, and thoroughness; however, it also costs a fair chunk of change. The repercussions of an improper hire can last for far longer than the employee in question. While the approximate figures around hiring someone new range from around $1,000 to over $5,000 per employee, the […]

Payroll: Starting the Year Off Right

December 20, 2019 | posted by Abacus Payroll

The beginning of the year is both a welcome refresh from the previous year’s events and a stressful reminder that you have to start many of your in-house processes from scratch again. While calibrating your payroll for the coming year probably isn’t something you’re looking forward to, starting your year with an optimal payroll setup […]

Considering Employee Raises? Review These Ideas

December 16, 2019 | posted by Abacus Payroll

Deciding how to administer employee raises can perplex even the most seasoned managers. How often should raises be given? Should they be given across the board to all workers? If staff turnover is increasing, can you turn back the tide by granting raises to the most productive workers? There’s a lot to consider. As you […]

Instilling Technology Awareness in Your Employees

December 9, 2019 | posted by Abacus Payroll

Technology, for all its benefits, can be one of the most divisive areas of use in the workplace. While you may not want to call out technology-illiterate employees for fear of getting accused of discrimination, the truth of the matter is that all of your employees need to be at the same level of technological […]