Payroll taxes include federal, state, and local taxes paid by the employer and employee to fund government programs such as Social Security, Medicare, and unemployment compensation. As an employer, it is your responsibility to withhold appropriate taxes from your employees’ paychecks and make payments to the appropriate tax agency. A portion of payroll taxes is employer paid and the other portion is employee paid.
Types of Payroll Taxes
There are different types of payroll taxes some paid by the employee, some the employer and other taxes paid by both. They include:
Federal Income Tax
The federal income tax depends on the W4 completed by the employee. Federal taxes allow an individual to claim dependents each pay rather than getting the credit when personal taxes are filed. It is always good to review this with your tax preparer, so you don’t have any surprises.
The Federal Insurance Contributions Act (FICA) encompasses three different types of payroll taxes. They are:
i. Social Security Tax
The employer and employee are also required to pay the Social Security tax to the IRS. The amount comes to 6.2% of taxable wages for both the employee and employer.
ii. Medicare Tax
The Medicare tax is 2.9% of the employee wage and is split equally between your company and your employee. Thus, you will have to hold 1.45% of your employee’s paycheck and match it with another 1.45% to be paid to the IRS.
iii. Additional Medicare Tax
When an employee’s income exceeds a specific amount, they are required to pay an additional Medicare tax. This amounts to 0.9% of their income.
State and Local Payroll Taxes
Employees are required to pay State withholding taxes generally in the state that they live in. These rules can vary depending on the state. State tax rates depend on the state. Most states use a bracket, but PA uses a percent of tax 3.07%.
In PA employees pay the higher of the local tax rate based on where the live and work. Philadelphia has the highest local tax rate in PA.
Federal Unemployment Tax Act (FUTA) Taxes
Employers are required to pay 0.6% on the first $7,000 of your employee’s wage as FUTA tax. This is $42 per employee per year. This tax is employer paid only.
State Unemployment Tax Act (SUTA) Taxes
Employers are required to pay SUTA tax on behalf of their employees. In some states an employee contributes to SUTA, which can be referred to as SDI tax. This is generally a small portion as the employer pays the most.
The process of calculating and paying payroll taxes can be complex and overwhelming for a person running a small business. Besides, you will have to always keep up with the latest changes in rates and regulations. Any mistakes can attract steep penalties. Outsourcing your payroll allows you to ensure smooth payroll processing, tax calculations, and payments. It can free up your valuable time so that you can focus on your core business activities. When it comes to payroll processing, you can trust Payroll Service Solutions to handle all the details. Let’s discuss what we can to make things easier for you. Call us at (215) 624-0922 or send us your queries using this Contact Form.
As a business owner, you know time is money. Efficiency and productivity are valuable assets in your day-to-day operations. Streamlining your company’s employee management systems, such as payroll, workers compensation, and insurance, can help save you time and money. As a payroll service company, Payroll Service Solutions can help your company manage more than just payroll. We also help small and midsize businesses with the management and oversight of workers compensation, insurance, tax filings, direct deposits, time clocks, record retention, and much more! Our company is committed to taking the burden off of you and your management and human resources teams so you can focus on growing your business. Looking for a payroll service that is customized to fit your unique needs? We can do that. We are a payroll service company through and through. Whether you need help navigating time clocks, PTO, or tax filing, we have efficient solutions. Through our online portal, you have the ability to streamline all of these services under one roof, making employee management a breeze! Looking for insurance or retirement benefits for your employees? We can help with that as well. We offer group health insurance, retirement plans, and workers compensation insurance services, to name a few. We can customize your services to provide exactly what your company needs, providing everything you need in one place. At Payroll Service Solutions, we offer real solutions to help your business run more efficiently. Whether it’s doing payroll for hundreds of people or finding the right dental and medical insurance for your company, our team can help. Get in touch with our team today to get started!
Every employee looks forward to payday, after all, getting paid for our time is one of the main reasons we are employed. But for a business owner, doing payroll isn’t necessarily a job to look forward to. Wouldn’t it be nice to have some help with your payroll? Helping companies manage tasks like payroll is what Payroll Service Solutions does best. We are your number-one source for all payroll and human resources management solutions, helping to lift these time-consuming tasks off your plate and allowing you to focus on running your company. We are in the business of helping small to midsize companies by offering the solutions they need for their employees. What is our specialty? Payroll. After all, it is our namesake. We have listened to the payroll needs and concerns of many businesses, which has helped us fine tune our services and offer customized and affordable payroll solutions for your business. Whether you want your payroll to be sent out in paper form or you want everything to be done online, we have the ability to do both. Our online portal allows you to customize your preferences. Not only does our online portal allow you to send payroll electronically, but it can also help all of your employees track PTO, time clocks, taxes, and so much more. Our team is available to answer any questions and assist you when you need help. We understand your time is valuable. Let Payroll Service Solutions handle your payroll so you can focus on running your business. Contact us today to learn more about our suite of services!
We are living in a time where technology has made things easier than ever before. Whether it’s online delivery services, knowing the news as soon as it happens, or streaming any TV show when we want, technology has been firmly integrated into our daily lives. Even investing our money has been simplified and streamlined with websites and apps. Now anyone with a couple of dollars can invest in just about any company they wish, but knowing the smartest investments takes a certain amount of skill and experience. Payroll Service Solutions can help with our financial planning and wealth management services.
When you research the smartest investment strategies, you may be inundated with advice from dozens of companies claiming to know the secrets of the stock market or the next big opportunity. But what works for others may not work for you. You need a customized approach that takes into account variables such as your individual budget, income, and financial portfolio. That’s why Payroll Service Solutions is here to give you an honest review of your financial portfolio at no cost to you! After your free review, you can hire us to provide tips on how to diversify and invest in a way that meets your needs.
Having a diverse portfolio is one of the best ways to ensure that your interests are protected if one section of the market falters. When your investments are diversified, you won’t lose all of your money in one failed investment. The team of financial experts at Payroll Service Solutions has the knowledge and experience to examine your financial portfolio and create an individualized financial plan that works for you.
At Payroll Service Solutions, our goal is not only to help you with your financial portfolio, but to assist companies in the Philadelphia area with payroll, human resources, and benefits services as well. Contact us today to schedule your free portfolio review or to discuss our other services!
Retirement is something that we all look forward to achieving. Even if we love our work and are happy doing it every day, we all want to slow down eventually and focus on the fun things that we never had time for. For some, their chosen retirement plan works well for them—it has slowly grown through the years and will allow them to enjoy a comfortable retirement. For others, it can be challenging to build up a substantial retirement savings, simply because the fees outweigh the money that is being saved or invested. Payroll Service Solutions can help your company offer retirement plans that pay off, through our retirement planning services.
Are you tired of investing in a plan that isn’t working for your best interest or that of your employees? Payroll Service Solutions offers plans that fit your budget and work toward providing you and your staff the retirement benefits you have all worked for. We work with small businesses to ensure their retirement and 401(k) plans are working toward a lucrative outcome, without exorbitant fees. Our retirement plans feature:
Our goal is to help Philadelphia businesses and their employees thrive. We can work with your business to customize financial planning services that work for you. We not only offer retirement planning, but also health and life insurance benefits and workers compensation coverage.
Retirement planning services shouldn’t come with excessive fees. We invite you to speak with our team at Payroll Service Solutions to see how we’re different. Ask about our payroll services, benefits management, and human resources services in the Philadelphia area. Contact us today!
When you started your business, you probably thought of all the great things it would do for you and your community. As you started hiring employees, you probably realized that the glamorous side of doing what you love actually became less of your focus because you had to deal with payroll, health insurance, and HR services. It’s a lot of work to keep up with it all. On top of that, you have to make sure that you keep all of your records straight so that whatever your employees need, you can provide it to them. You may be thinking you want to be more hands-off when it comes to this side of your business, but how? Payroll Service Solutions of Philadelphia has you covered!
Looking for a payroll company that you can trust can be hard, but finding one without expensive packages can be even harder. Payroll companies oftentimes will force you to bundle in services that you will never use. Payroll Service Solutions is different. We are dedicated to giving you exactly the services you want and need! You are completely free to pick and choose which services you feel like you will use, and you never have to worry about paying for services you’ll never use. We understand that your company is unique from other businesses out there. Your company isn’t the same as your competitors, so why should it have the same exact payroll package as every other company? Our number-one goal is to make your life easier by offering a payroll and insurance solution that fits what you envision for your company. Do you feel like you will benefit from direct deposit but want to be more hands-on with your tax filing? You can do that! What about PTO tracking without the group insurance? You can do that too! While we offer all of those things and more, we never want you to pay for something that you wouldn’t use. Our goal is to make running your business easier, not to stretch your budget thin by paying for services you never use. Payroll Service Solutions was designed to help Philadelphia businesses with the payroll, human resource, and tax services they need. From the beginning, we’ve helped businesses in our area grow by providing needed support, allowing business owners more time to run their businesses. We can help your business run smoothly by handling your payroll, tax filing, PTO tracking, and more. From group insurance to record retention, we want to provide you with all the services you need—and none of the services you don’t. Contact us today to learn more and get started with the number-one payroll company in Philadelphia, Payroll Service Solutions!
For some people, bank accounts can be a real issue. Whether they simply don’t want their money tied to a bank account or they have had a negative experience with a bank in the past, some people choose not to open a bank account. But without a bank account, it can be hard to pay your employees the money they’re owed. Most employers pay by check or direct deposit, and without a bank account, it can be challenging to cash a check. Payroll Service Solutions has the answer to this dilemma—instant issue debit cards! Our debit cards were made with hard-working employees in mind. We can directly deposit a portion or all of your employees’ paychecks onto debit cards each pay period. We also have debit cards on site that can be sent immediately to your employees if necessary. That means that even though they don’t have a bank account, they will never have to worry about not being able to pay their bills on time or buy groceries and other necessities.
At Payroll Service Solutions, we are dedicated to making your life and the life of your employees easier. That’s why we offer solutions such as instant issue debit cards. Whether it be the hassle of payroll or finding insurance, we have you covered. Our services include direct deposit, PTO tracking, online access, time clocks, and so much more. Contact us today about how we can help you!
At Payroll Service Solutions, we believe that everyone should have access at their fingertips for the records they need. Our online portal allows you and your employees to view your payroll information in just a few clicks. Cannot find what you are looking for? Give us a call and we will happily assist you in finding what you need. We are dedicated to being there for you when you need it the most! Get in touch with us: https://payroll-solution.com/contact-us/
Payroll services are something that every business needs. While there are many payroll service companies out there, you need one that checks all the boxes and provides accurate and reliable services. We are here to answer your call when you dial 215-642-0922. https://payroll-solution.com/blog/personalized-payroll-services/
When you and your employees know how much time they have taken off to date, it allows them to plan better, which in turn makes them more efficient. PSS can track your PTO so both you and your employees can have this information at your fingertips Do your employees know how much PTO they have? https://payroll-solution.com/blog/employee-pto-tracking/
Our job is to help you make sure your business is compliant with state, local, and federal regulations, while also keeping you up to date with everything that matters to your success. Learn more about how we set you up for success: https://payroll-solution.com/why-pss/.
Everyone knows the old saying “Time is money.” It can mean different things to different people depending on what they do for a living, but ultimately it comes back to the fact that time shouldn’t be wasted because it could cost you. You should never have to track down your payroll services to get what you deserve. Payroll Service Solutions has you covered by being completely accessible when you need it most.
Our approach to payroll solutions is simple; we want to make it easier for each and every business to get the support they need with as little hardship on their end as possible. That means that when you need to figure out your current payroll for yourself and your employees, we can help. If you need to set up a direct deposit, we can do that. Need an easy solution to health insurance options? We can do that as well. We have the solution you need, and we go above and beyond to provide you with the type of service you expect.
At Payroll Service Solutions, we believe that everyone should have complete access to the records they need at their fingertips. Our online portal allows you and your employees to look at tax filing, PTO tracking, record retention, and so much more after just a few clicks. If an employee can’t find what they are looking for, then our helpline will be sure to get them on track faster than any other payroll service. We are dedicated to being completely responsive when you need it most.
Are you tired of wasting time trying to figure out payroll and everything else that entails? Well, we are here to help. We are the best name in payroll services. Contact Payroll Service Solutions in Philadelphia to get started today!
Running a business is difficult enough. It takes a lot of time and effort to ensure your business continues to run as smoothly as possible every day. The last thing you want to figure out at the end of the day is how to file and store all of your employees’ payroll reports. That’s where Payroll Service Solutions comes in. Our company offers comprehensive payroll processing services, including organizing and storing all of your payroll reports.
Records are perhaps one of the most important parts of maintaining a business, and it can be challenging to keep your data organized efficiently and maintain accurate payroll records. It’s something that all business owners have struggled with at one point or another. When you need assistance with payroll processing and record keeping, you need a reliable company you can trust. Payroll Service Solutions can accurately and conveniently store and back up all of your payroll records. When you receive unemployment or workers compensation requests, or an employee needs access to their payroll history for a loan, we can provide the information you need immediately.
Payroll Service Solutions maintains records for every aspect of your business. From tax forms to payroll reports, you can rest easy knowing everything you need is securely stored and easily accessible. Not only do we offer payroll processing and record retention, but we also offer HR consulting and employee benefits management. If this sounds good to you, contact us to see how we can make your business run just a little more smoothly!
Payroll services are something that every employer needs. While there are many payroll service companies out there, you need one that checks all the boxes and provides accurate and reliable services. Payroll services are meant to make your day-to-day operations easier for both you and your employees. When looking for a company to help you out, you need to make sure you are getting the best service possible, while also staying well within your budget. Read on to see what you need to keep in mind while searching for a payroll company you can trust.
First things first, the company you choose to partner with must make your job easier. If your payroll service isn’t providing reliable payroll solutions, then it’s not worth your investment. You need a payroll company that does tax filing, direct deposits, PTO tracking, online access to time clocks, and much more. Everything extra is just icing on the cake. When looking for a payroll service company, you should make sure they manage employee benefits as well. Having a dependable and trustworthy payroll service that offers HR consulting, payroll processing, and employee benefits services will save you time and money.
Let’s face it, there are a lot of payroll companies out there, but not all of them provide comprehensive services and outstanding customer care. You want your payroll outsourcing company to consider your business their business, so you get the level of professionalism, attention to detail, and quality service you would expect from your own payroll or HR department. Being a business owner comes with many responsibilities, including customer service, sales, marketing, and production. Let Payroll Service Solutions take the worry of managing human resources, payroll processing, and employee benefits off your plate so you can focus on getting business done.
Contact our team of payroll and HR experts today to learn how we can help you.
The year is still young, which means there is still time to change how your year is going to turn out with regards to your business. One way you could start fresh is by making the switch to a payroll service that makes your business the top priority. After all, you are trying to grow your business, and you don’t always have time for payroll management. You need a company that helps you handle these time-consuming tasks. There’s no better time to outsource your payroll management needs. Payroll Service Solutions serves Philadelphia-area businesses with professional and reliable payroll services.
There are many benefits to outsourcing your small-business payroll process. Some of these benefits may seem obvious, like having the filing of your business taxes or tracking of your employee time off accruals handled, but there is so much more that a great payroll service provider can offer, and at Payroll Service Solutions, we are here to help! And speaking of benefits, let’s discuss your employee benefits programs. We make it easy for you to offer quality employee benefits without any hassle or time spent searching for a la carte solutions through offerings from multiple companies! Payroll Service Solutions offers workers’ compensation, health insurance, contractors’ insurance, retirement plans, and more to small-business owners every day. Our clients appreciate the seamless integration of workers’ compensation and their payroll that we have created. When payroll time rolls around, we report actual wages to the insurance carriers and offer a pay-as-you-go service. This process is made even simpler when we calculate the premium based only on the true payroll and make payments directly from your account. There is no longer a need for stressful calculations, nor for frantic research every time these payments are due; our friendly and experienced associates are happy to take these chores off of your plate. We also make it easy to offer your employees amazing benefits beyond workers’ compensation. Payroll Service Solutions offers a comprehensive range of retirement benefits, including 401(k) and 403(b), simple IRA, payroll deduct IRA, business-owner planning, and both financial planning and wealth management services. Our group health insurance options provide an accessible way for small-business owners to care for their employees; the options we offer include medical, dental, vision, group life, and disability insurance. Providing your employees with the best benefits can be stressful when you try to do it all on your own. Contact us today to speak with a representative who can help you every step of the way!
Picture this: You have a question about payroll, tax filing, human resources, or another area important to your small business. Your question may require only two minutes on the phone, but instead of reaching someone, you are sent through an automated series of questions, and are ultimately asked to leave a message. Sound familiar? As a small-business owner who is in need of payroll services, you are not alone. It is far too often that we hear this story from our clients; they share with us that while working with their previous payroll company, it was impossible to reach someone on the phone. Here at Payroll Service Solutions, we believe that no account is too small for the highest customer service, and no question should ever have to wait for an answer. What makes us different from other payroll service companies in the industry is that we answer the phone! Our Philadelphia -based human resource consultants and payroll experts offer a personalized, hands-on experience for small businesses all across the U.S. We invite you to check out the “Why PSS” page on our site here, and learn how we are different from other payroll service companies. We value your position as a small-business owner and recognize that time is a very valuable resource. So when you have a question about your payroll or any of the other services we are performing on your behalf and have a minute to call, we will answer the phone and help as quickly as possible. Your assigned payroll service expert will always be the first thing you hear on your call — never a machine, never a series of questions. We look forward to providing you the best payroll services from the moment we answer your call! If you are ready to begin your personalized payroll services, visit our page, give us a call, or fill out our contact form to get started today!
At Payroll Service Solutions, we understand that business owners may know their industry well but may not understand every aspect of owning a business. This is where we come in. We offer reliable payroll processing and comprehensive tax filing services for small- to medium-sized businesses. Our Philadelphia -based tax service company takes on the full responsibility of your business when it comes to tax filing services. This allows them the time and freedom to focus on the other important aspects of business, while not having to worry about all of the pesky tax paperwork. Our company is composed of tax service experts who are required to stay up to date on all information concerning government regulations, tax rates, and compliance-related issues; their only job is to specialize in this area so that our clients may focus on growing their business. We make sure that every small business owner feels confident their company’s taxes are paid in full and on time, keeping them in good standing with all tax agencies. You can read more on our extensive Philadelphia -based payroll services here. However, this is not where our payroll and tax services end. Not only do we want to make sure taxes are handled correctly, but our philosophy is to also educate our clients and ensure that they understand the tax filing process. We go beyond telling them that the work is complete, and make sure each client understands each tax they are paying and the reason behind it. Our Philadelphia -based tax services keep the interest of small-business owners in mind, every step of the process. We alleviate time, stress, and the requirement of tax knowledge so that every business owner of small- to medium-sized businesses can spend his or her time on the tasks that can lead to growth. Contact us today to get started.
When you partner with us, our goal is to make your job easier by offering practical solutions to everyday small-business operations needs and challenges. The last thing we want to do is add more stress, so at the beginning of our partnership, we will walk you through the steps involved to guarantee a smooth transition. In fact, we take care of the whole process to ensure that errors are avoided and regulations are met. Prior to the creation of your account, a member of our sales team will set up a mutually convenient call with a representative from your firm to gather information to get your account set up properly. In the interest of complete transparency, we will guide you through all of our processes and let you know why we need each piece of business information before we handle the setup on your behalf. We understand that most business owners are not in the business of payroll or taxes, and therefore are not up to date on tax laws and requirements. Our job is to make sure your business is compliant with state, local, and federal regulations, while also educating you on the matters of importance to your success. If you are ready to get started with having us handle your payroll account, contact our sales team today to speak with one of our experts! We are looking forward to partnering with you now and as your company continues to grow and expand.
Thinking about switching payroll providers? Now is the perfect time! A new year means a fresh start and an easy transition to a new payroll company. Before you switch, however, there are things that you can have lined up to ensure a smooth transition.
Payroll taxes are based on when your employees were paid, not when they worked. That means that if they got paid January 1 (or after) for work they did in the prior December (or before), those wages are reflected in the new year’s books for tax purposes. That being said, take a look at your last pay date of the year, and if it falls in 2021 for whatever reason, make sure that is taken care of with your new payroll company.
When making the transition to a new provider, make sure that, prior to closing the account, you extract important data, such as employee information, payroll reports, and annual tax forms, to keep for records. A lot of times, after an account is closed, it can be difficult to go back and retrieve this information.
When switching payroll companies, you will need important information to gain access to all your payroll tax accounts to ensure a smooth transition. You are going to need your EIN, state employer identification number as well as other payroll tax account numbers, legal business name, and bank account information.
All of this may seem overwhelming, but Payroll Service Solutions is here to help guarantee a smooth transition to our team of experts you can depend on throughout the longevity of your business. Call us today to get started!
If your check date falls on Friday, January 1, 2021 you must decide if you want to move the check date to either December 31, 2020 or keep the check date in January of 2021. Please be aware of the following should you change your January 1st check date to December 31st: • Paying employees on December 31, 2020 will cause an extra paycheck in tax year 2020. This check will be included on the 2020 W2. • This may affect retirement contributions (especially if the contribution is setup to meet maximums). • This may affect your budget for the year. • There could be tax consequences for both employees and employers if you add a paycheck to 2020. • We strongly recommend that you consult with your CPA or tax attorney for guidance on this. • Payroll Service Solutions will not change the check date unless you request it. • If you decide to change your check date to December 31st, please request that we hold your end of year processing. Please let us know when you call in your last scheduled payroll for 2020.
It used to be that direct deposit was a luxury, but now, as it has grown to be the norm, employees have come to expect it. Payroll Service Solutions offers direct deposit services that will keep your employees happy, while also taking a big burden off your plate when it comes to payday details. Direct deposit is loved for many reasons. For example, it eliminates multiple steps that paper checks require for the funds to be accessible within an account, such as a trip to the bank and a long waiting period. Paper checks can take up to five business days to clear an account, but with direct deposit, funds are directly deposited to the employee’s account through ACH transactions. This means that on payday, employees immediately have access to those funds, without having to wait in a long line at the bank. Another large perk to using direct deposit is the safety benefits. Generally, paper checks are much riskier because they can be lost, stolen, or fraudulently cashed. When using direct deposit, the money is directly debited from the employer’s account and deposited to the employee’s account so there is no room for theft or fraud. Switching to an electronic pay system saves everyone involved both time and money. If you’d like to set up direct deposit or talk to us about how we can better your current systems, call Payroll Service Solutions today! We are proud to serve small businesses in the Philadelphia area as well as the entire U.S. with full-service payroll solutions.
Benefitting Local Bucks County Food Pantries, PSS will be collecting donations via a donation box in our lobby from 11/2/2020 through 11/16/2020. All donations can be made between the hours of 7 AM and 6 PM, Monday through Friday. Please wear a mask when entering and exiting the lobby. Acceptable donations include:
On August 8, 2020, President Trump signed a memorandum allowing employees making up to $4,000.00 pretax biweekly to defer paying their portion of Social Security taxes. The tax deferral went into effect on September 1, 2020, and will end on December 31, 2020. At this point and time, the monies deferred will have to be paid back in full. Guidance put out by the IRS on August 28, 2020, suggests that it will have to be paid back in full by April 30, 2021. It will be an additional deduction from the employee’s check. The guidance also suggests that ultimately the employer is responsible for the repayment of these taxes. Payroll Service Solutions is not automatically deferring this tax. If you have an employee who would like to his or her their Social Security tax, contact our office to obtain the necessary paperwork.
This Act allows some flexibility with the way the loan money is used to still receive forgiveness. The key changes are as follows:
More information will be forthcoming as it is made available, please check back often.
Payroll Service Solutions can do your PPP (Paycheck Protection Program) loan through our partner Tioga Franklin Savings Bank. This loan provides 100% federally guaranteed loans to small businesses. Importantly, if all employees are kept on payroll for eight weeks, SBA will forgive the portion of the loan used for payroll, rent, mortgage interest or utilities. Up to 100% of the loan is forgivable. Payroll Service Solutions will help you gather the payroll information you need to apply. As always, we are here to assist and support you through these challenging times. To apply, email Amanda Keiper at email@example.com. The following link to upload your documents: https://tioga-franklin.sharefile.com/r-r1a822ed2373422ba
Coronavirus Aid, Relief and Economic Security (CARES) Act World Health Organization U.S Department of Health and Human Services Center for Disease Control and Prevention IRS Coronavirus https://www.irs.gov/coronavirus State & Federal Resources https://s3.amazonaws.com/content.corpay.com/wp-content/2020/03/26193001/State-and-Federal-Coronavirus__COVID-19__Resources_.pdf Department of Labor https://www.dol.gov/coronavirus Emergency Paid Sick Leave https://www.dol.gov/agencies/whd/fmla/pandemic Poster https://s3.amazonaws.com/content.corpay.com/wp-content/2020/03/26185327/FFCRA_Poster.pdf Questions & Answers https://www.dol.gov/agencies/whd/pandemic/ffcra-questions Employer Paid Leave Rights https://www.dol.gov/agencies/whd/pandemic/ffcra-employer-paid-leave
Many small businesses and their employees have been impacted by COVID-19. To help small businesses and their workers though this pandemic, the President has authorized the SBA to provide assistance. There are several SBA loan programs including Enhanced Debt Relief and Disaster relief programs to assist businesses during this tough time. The Coronavirus Aid Relief, and Economic Security (CARES) Act is allocating $350 billion. Also known as the Paycheck Protection Program, it provides 100% federally guaranteed loans to small businesses. Importantly, if all employees are kept on payroll for eight weeks, SBA will forgive the portion of the loans used for payroll, rent, mortgage interest or utilities. Up to 100 % of the loan is forgivable. https://www.sba.gov/funding-programs/loans/paycheck-protection-program#section-header-2 SBA guidelines have not yet been issued on these loans. Once the administration releases more details we will share that information with you. As always, Payroll Service Solutions is here to assist and support you through these challenging times.
Employers must post this notice of employee rights. https://www.dol.gov/sites/dolgov/files/WHD/posters/FFCRA_Poster_WH1422_Non-Federal.pdf The act reserves the right for the secretary to exclude certain care providers and first responders from the list of eligible employees and to exempt small businesses with fewer than 50 employees from providing paid leave for child care if business viability is jeopardized. We strongly advise that you read through the entire document prior to Wednesday, April 1st so you have an understanding of how the leaves work. You can find the link below. The following are some highlights from the updated guidance.
On Friday, March 27th the President signed the CARES Act. The new law is a $2 trillion economic stimulus package designed to repair the economic damage caused by COVID-19 and provide additional protection to individuals and businesses who may lose income due to the pandemic. While most of the act pertains to direct payments and loans, there are some sections that affect employers. Providing Alternatives to Closure and Layoffs The CARES Act gives employers the following options and benefits, which may allow them to stay open and keep more people employed:
First we would like to express our sincerest wishes for the health and safety of you, your employees and loved ones. Please be aware that there will be no interruption in your service with us as this ban goes into effect. We have made provisions to accommodate the PA governor’s order. Effective Monday, March 23rd we will be temporarily suspending the pickup of payroll packages at our office. We have several options for you to choose from to get your information to you. At present, the Federal Reserve has not announced any changes in their daily operations. Unless and until changes are announced, we are fully prepared to meet all existing payroll deadlines. We are pleased to assure you that we remain ready and available to handle your payroll needs. While we cannot predict how long this emergency will continue, we are prepared to serve you for an extended period. We do not anticipate interruptions in the high level of service you are accustomed to receiving. The president has authorized the SBA to provide assistance. We would encourage any small business in the effective areas to consider seeking relief if needed. You can apply here. https://disasterloan.sba.gov/ela/Account/Login We wanted to address some of the specific questions that we have been asked: Can I still expect delivery of my payroll? Yes, at this time our courier service is operating as normal. If you have specific instructions or need to change the delivery address please let us know. Can my employees file for unemployment benefits if my business is temporarily closed because of COVID-19? Yes, they may be eligible for benefits. Can I reduce my employee’s hours because of COVID-19? Yes Will my unemployment tax rate increase if my employees file for benefits due to COVID-19? No, businesses that are temporarily closed will be granted Relief from Charges and your tax rate will not be increased because of COVID-19 related claims. Is there somewhere I can find more information about unemployment? Yes. Go to https://www.uc.pa.gov/COVID-19/Pages/Employer-COVID19-FAQs.aspx Are there programs to help employers having financial difficulties due to COVID-19? Yes, the Shared Work Program can help https://www.uc.pa.gov/employers-uc-services-uc-tax/shared-work/Pages/default.aspx as well as the PA Department of Community and Economic Development https://dced.pa.gov/resources/. We will continue to monitor the situation and update you. Please call us with any questions or concerns at 215-624-0922 as we are here to help you.
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Small businesses can affordably obtain the same protection large corporations can. Call us today at 215-624-0922 to find out how.
The New Jersey Mandatory Employment Retirement Account has officially passed NJ legislature. Did you know seven states already have mandatory retirement saving requirements including:
More states – including Pennsylvania - are in the process of proposing legislature right now! Is your business prepared? Payroll Service Solutions has the answers you seek. We look forward to helping your business ensure they are completely compliant with the law. Payroll Service Solutions has your answers! Call us today and ask about our low cost EZ IRA option. Employee deduct IRA contributions have never been so easy. Call 215-624-0922 to talk to one of our experts today!
Please join us in extending best wishes to Peggy Kudrick who is retiring from Payroll Service Solutions on March 30th. Peggy has been an esteemed member of our company for 12 years. Peggy’s positive attitude, willingness to help everyone and her thoughtfulness helped make Payroll Service Solutions who we are today. She genuinely cares about clients and coworkers alike always willing to go the extra mile to help us all. In addition to her skills and commitment to excellence, Peggy has been a friend to us all. We are happy for her, and at the same time, sad to see her go. She will be greatly missed by her coworkers and clients alike. Please join us in wishing Peggy well as she starts her next chapter in life. We wish her many, many years of good health and happiness!
Our friendly client experience team is happy to speak with you regarding your payroll, benefits and HR needs. Payroll Service SolutionsⓇ can deliver comprehensive solutions customized and integrated to meet your needs.
The employees of Payroll Service SolutionsⓇ justifiably take pride in consistently meeting and frequently exceeding the standards and expectations of our clients. Many clients have kindly shared their satisfaction with us in writing. Following are some examples of our successes.
At Payroll Service SolutionsⓇ we have a team of payroll and tax experts whose only job is to stay up-to-date on tax rates, compliance issues and government regulations so you don't have to. Our expertise truly makes payday easy for you.
Payroll Service Solutions® was established in 2001 to cater to the payroll needs of the small business owner. We are proud to offer top of the line services for small business owners that they can afford.