USVI Payroll Resources
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- Your Tax Obligations As an EmployerYou need time and energy to run and grow your business, so you’ve outsourced your payroll process. You decided to go with a third-party payroll provider to handle some or all of your employment tax duties. Haven’t yet outsourced your payroll? Our Comprehensive Payroll Service takes care of all of the payroll processing for you […]
- How to create an effective payroll budgetLearning how to create an effective payroll budget will avoid wondering how and where your money was spent. Creating a payroll budget helps you understand what percentage of your budget should go to payroll and enables you to stay on track throughout the year. Generally, payroll should account for about 15% to 30% of your […]
- Stay Current on Payroll RulesHiring staff? Good for you! It means your business is thriving. Now is the time to get up to speed or reacquaint yourself with any labor laws you’ll need to be compliant with. Labor laws were created to protect employees’ rights. If you’re vigilant, you can avoid financial headaches. Payroll Labor Laws Here’s some advice […]
- Quiet Quitting: What You Need to KnowCBS News says, “There’s a new term for clocking in and doing the bare minimum at work: ‘quiet quitting.’” This employee practice is a type of disengagement in which employees no longer go above and beyond at work. They do as little as possible, but just enough to keep their jobs. The term “quiet quitting” first […]
- Will My Noncompete Agreement Hold Up?You may want to require employees to sign noncompete agreements to keep them from working for rival companies. This can be particularly important when working within a small community like an island. But, will this actually protect the business? The answer is … maybe. Over time, courts have become less willing to uphold strict provisions. […]
- Your Business Value Is All About Human CapitalWhat do you think about the people who work for your company? If you believe they are valuable individuals who contribute to your success, you are on the right track. If, however, you think of them as replaceable cogs in a wheel, you may be sabotaging everything from productivity and sustainability to the value of […]
- What Nonprofits Need To Know About BanksRunning a nonprofit? Before you open a bank account to hold your business funds, you’ll need to research banks. Look for a bank with services and perks, especially for nonprofits. Here are some questions you’ll need to ask: What experience does the financial institution have with nonprofits? Has it had many nonprofit clients? The ideal […]
- Paperless Payroll: The Pros & ConsPaperless payroll is a paper-free payroll process that has become hugely popular in recent years. But despite the groundswell of support for paperless payroll solutions, employers should examine the details before making the switch. Six Pros of paperless payroll Electronic storage — Stores payroll documents on your computer, eliminating clutter and making payroll documents easier […]
- The Essentials: HR, Benefits and Payroll ChecklistsHuman resources, employee benefits and payroll functions are separate yet intertwined, and checklists are essential to staying on top of your responsibilities for each one. Below are examples of what might be included in these checklists. Human resource management checklist HR department plan: Lays out the structure and operation of your human resources department. Recruiting […]
- Taxable and Nontaxable Employee BenefitsAs the unemployment rate falls from its 2020 high, employees are switching jobs in record numbers. The new stability in the economy means workers have more leeway to shop around for jobs that fit their lifestyles, needs and values. Now, the onus is on employers to provide an environment that makes their star team members […]
- Payroll Tax Rates and Contribution Limits for 2022Below are federal payroll tax rates and benefits contribution limits for 2022. Social Security tax In 2022, the Social Security tax rate is 6.2% for employers and employees, unchanged from 2021. The Social Security wage base is $147,000 for employers and employees, increasing from $142,800 in 2021. Self-employed people must pay 12.4% on the first […]
- How To Retain Employees in a Tough MarketImagine you’re a home care manager trying to replace a nurse’s aide. But the resumes aren’t coming in like they usually do. You can’t figure out why until an applicant points out that you’re offering the same hourly wage as McDonald’s and asks what you have that McDonald’s doesn’t. Lockdown-era furloughs forced huge numbers of […]