payroll taxes Archives - Abacus Payroll

The CARES Act: Payroll Relief

March 27, 2020 | posted by Abacus Payroll

What employers need to know. On March 27, 2020 President Trump signed into law the Coronavirus Aid Relief and Economic Security Act (CARES Act). The CARES Act is a stimulus bill featuring over $2 trillion in measures designed to make a significant impact on the economy and bring relief to individuals and businesses impacted by COVID-19 or […]

Tax Season Lessons: The Importance of a Paycheck Checkup

October 1, 2019 | posted by Abacus Payroll

In years past, the IRS has encouraged taxpayers to double-check their form W-4s to ensure that they’re paying the right amount in taxes—often to no avail. Even if you haven’t suffered the repercussions of an out-of-date W-4, here are a few steps you can take to make sure you don’t have an unexpectedly high tax […]

5 Tips for Smarter Payroll Outsourcing

September 11, 2019 | posted by Abacus Payroll

It’s no secret that in-house payroll can be a time-consuming headache for employers. Outsourcing payroll has many benefits, from increased productivity and enhanced security to peace of mind that your employees are paid timely and accurately. The most important part of outsourcing, however, is working with a reputable provider. Since your company’s payroll tax responsibility […]

How to Verify Payroll Tax Payments

September 10, 2019 | posted by Abacus Payroll

Nearly 40% of small businesses outsource payroll to a third-party processor. How can you verify that your payroll tax deposits are being made? While there are many benefits to outsourcing a company’s payroll functions, it’s important to note that employers who outsource payroll are still legally responsible for any and all payroll taxes due. According […]

Restaurant Payroll: Tips on Reporting Tips

September 9, 2019 | posted by Abacus Payroll

If you are like millions of taxpayers in the hospitality and service industries, you may receive tips. The tax code is clear; if you receive tips you must report them as income. Some employers have systems to make this easy, while others do not. It is important to stay organized and keep proper recordkeeping of […]

Withholding Updates: A New Form W4 and a New IRS Withholding Tool

August 12, 2019 | posted by Abacus Payroll

11 Questions Your Employees Might Be Asking An important deduction taken from paychecks each pay cycle is the amount of federal tax withholding an employee tells their employer to set aside based on what they submit on their Form W-4. This past tax season was the first under tax reform and new withholding tables, and […]

2018 Pennsylvania Payroll Tax Rates

December 18, 2017 | posted by Abacus Payroll

Abacus Payroll and Alloy Silverstein present an updated summary of all changes to Pennsylvania payroll tax rates in 2018. We keep this page updated, but if you’d like to be alerted to more changes to Pennsylvania Payroll Tax rates in future, you can subscribe to our Payroll Tax Alert Service. If you’d like help with payroll, […]

2017 Federal Payroll Tax Rate Changes

December 13, 2016 | posted by Abacus Payroll

2017 minimum wage and maximum tax rates for usa federal

Here is a summary of the federal 2017 payroll tax changes including Social Security, Medicare, Unemployment Tax, Minimum Wage, 401(k) limits and more. Print 2017 Payroll Tax Alert Social Security / Medicare The wage base increases to $127,200 for Social Security and remains UNLIMITED for Medicare. For Social Security, the tax rate is […]

Local Income Tax: What is it?

December 29, 2015 | posted by Abacus Payroll

Local income tax may seem like the proverbial salt in the wound left by normal taxes, but like it or not, it’s becoming increasingly common. Based on the county or area in which one lives, local income tax is often quite low—ranging from about one to three percent of an individual’s income—and it can serve […]

The Ins and Outs of Payroll Frequency

December 18, 2015 | posted by Abacus Payroll

One of the biggest mysteries in payroll management is frequency. While you design the system that works for your company, you have to consider how often you want to pay your employees, what the perks and drawbacks are of each method, and the tax implications resulting from each design. The following is a basic breakdown […]