taxes Archives - Abacus Payroll

Celebrating and Rewarding your Employees this Holiday Season

November 10, 2022 | posted by Abacus Payroll

The holiday season is upon us, a time when many employers share a token of appreciation for their hardworking employees. Whether it’s through a bonus, gift, party, an afternoon off, or a simple pat on the back, showing any kind of gratitude and appreciation for the efforts of your workforce does not go unnoticed. However, […]

7 Tax-Free Ideas to Bolster Your Business Benefits Package

July 24, 2019 | posted by Abacus Payroll

The benefits package offered by your business is extremely important to your employees. How important? A survey performed by the Society of Human Resource Management (SHRM) found that benefits are directly tied to overall job satisfaction for 92 percent of employees. Even more importantly, 29 percent of employees cited the overall benefits package at their […]

Did You Receive a NJ Assessment Notice? Here’s What You Need to Know

June 24, 2019 | posted by Abacus Payroll

New Jersey employers: Have you received your annual assessment notice this year? Each year the New Jersey Department of Labor distributes assessment notices to New Jersey Employers to supplement fund programs that are not covered by contributions from payroll taxes. Do not be alarmed when receiving this notice. It is not a penalty of any type, […]

Time to Prepare Third Quarter Payroll Reports

October 22, 2018 | posted by Abacus Payroll

Don’t forget ‐ October is the month for preparing third-quarter 2018 payroll reports. As you begin gathering the information you’ll send to federal, state and local governments, check your compliance in these four key areas: Wages. Federal and state laws spell out your responsibilities for meeting minimum wage and overtime pay, as well as […]

Summer Hiring and the Work Opportunity Tax Credit

May 30, 2018 | posted by Abacus Payroll

While summer can be a time for some businesses to relax a bit on the hiring front, there are seasonal industries where the need for additional employees picks up in the warmer months. From construction to tourism to agriculture and groundskeeping, if your business is expanding its team, bringing on additional help this summer, or […]

Gifts, Employees, and the IRS

April 25, 2018 | posted by Abacus Payroll

Whether or not employers should give gifts to their employees is an oft-debated topic. The ethical side of office gift-giving is up to you, but whatever you decide must also take into account IRS regulations for taxing gifts. Here are a few things you should know about handling gifts for employees, as well as a […]

New Jersey Payroll Tax Rates for 2017

December 13, 2016 | posted by Abacus Payroll

Abacus Payroll presents a a summary of all the payroll tax changes that New Jersey employers or business owners need to know for 2017. We keep this page updated, but if you’d like to be alerted to more changes to New Jersey Payroll Tax rates in future, you can subscribe to our Payroll Tax Alert […]

Understanding Self-Employment Tax

August 17, 2016 | posted by Abacus Payroll

From the outside looking in, self-employment is a pretty attractive prospect: you get to choose your own hours, your office attire can be something as casual as PJs, and your bed and desk can be one and the same. While there are many incentives, these aspects of self-employment fall flat when tax season rolls around. […]

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 […]

Payroll 101: Handling Finances When Starting A Business

December 1, 2015 | posted by Abacus Payroll

A great idea or opportunity came along and now your dream of starting a business is becoming a reality. Before you start getting products on the shelves, you need to hire a motivated, reliable team. And before you hire your team, you need to understand the basics of payroll. Taking care of other […]