Deductions & Contributions Archives

Deductions & Contributions Archives - Patriot Software Mon, 07 Aug 2023 13:27:04 +0000 en-US hourly 1 https://wordpress.org/?v=6.2.2 https://www.patriotsoftware.com/wp-content/uploads/2020/01/cropped-site-favicon-32x32.png Deductions & Contributions Archives - Patriot Software 32 32 What Is a Wage Garnishment? What Employers Need to Know https://www.patriotsoftware.com/blog/payroll/what-is-garnishment/ Mon, 07 Aug 2023 13:26:00 +0000 https://pslohio.wpengine.com/uncategorized/what-is-garnishment/

You may have an employee whose wages are subject to garnishment at some point. What is a wage garnishment? And what do you need to do? What is a wage garnishment? Garnishment is a method of collecting money from a person with overdue debts. When an employee has unpaid debts, a court or government agency […]

]]> What Is an HSA? https://www.patriotsoftware.com/blog/payroll/what-is-an-hsa/ Fri, 16 Dec 2022 19:27:45 +0000 https://pslohio.wpengine.com/uncategorized/what-is-an-hsa/

Most businesses offer employee benefits in addition to regular wages. Common employee benefits can range from different insurance options to types of retirement plans. Some employees have the option of opening an HSA. What is an HSA? What is an HSA? An HSA, or health savings account, is a plan where individuals put aside pre-tax […]

]]> What Is an FSA? Your Q&A on Health Flexible Spending Accounts Has Arrived https://www.patriotsoftware.com/blog/payroll/what-is-an-fsa/ Fri, 16 Dec 2022 16:03:26 +0000 https://pslohio.wpengine.com/uncategorized/what-is-an-fsa/

As an employer, you can offer various benefits to your employees. There are pre-tax and post-tax benefits for employees to enjoy. One plan you can offer employees is a health, or medical, FSA. So, what is an FSA? What is an FSA? An FSA, also known as a flexible spending account (or arrangement), is a […]

]]> What Does An Income Withholding Order Mean? https://www.patriotsoftware.com/blog/payroll/what-does-income-withholding-order-mean/ Fri, 16 Dec 2022 13:52:04 +0000 https://pslohio.wpengine.com/uncategorized/what-does-income-withholding-order-mean/

In 2018, there were about 12.9 million custodial parents in the United States. Of those custodial parents, 49.4% had legal or informal child support agreements. As an employer, you might hire an employee at some point who has a child support agreement. If that happens, you might receive an income withholding order. If you do […]

]]> Do Employers Have to Offer Health Insurance? https://www.patriotsoftware.com/blog/payroll/do-employers-have-to-offer-health-insurance/ Tue, 04 Oct 2022 19:40:32 +0000 https://pslohio.wpengine.com/uncategorized/do-employers-have-to-offer-health-insurance/

You probably know that offering employee benefits helps you hire and retain top talent. But did you know that 88% of employees consider health insurance benefits when choosing a job? Although the majority of employees want good health insurance benefits, it can be expensive to provide. The average annual employer contribution is $5,477 (single plan) […]

]]> How to Handle Salary Reduction for Employees https://www.patriotsoftware.com/blog/payroll/salary-reduction-employees/ Tue, 20 Sep 2022 21:58:00 +0000 https://pslohio.wpengine.com/uncategorized/salary-reduction-employees/

Reducing an employee’s salary is not an easy decision to make. Unfortunately, salary reduction might be necessary. If an employee is not succeeding in their position, it may be time for a pay cut. A salary reduction is much more than just changing your payroll. There are laws you need to follow when reducing an […]

]]> What Is Imputed Income? https://www.patriotsoftware.com/blog/payroll/a-closer-look-at-imputed-income/ Tue, 13 Sep 2022 19:47:00 +0000 https://pslohio.wpengine.com/uncategorized/a-closer-look-at-imputed-income/

As an employer, you are likely familiar with reporting regular wages and taxes withheld on Form W-2. But, are you aware that you must report other amounts or payment types, such as imputed income? Learn what is imputed income, types, and how to report imputed income. What is imputed income? Imputed income is adding value […]

]]> What Is Child Support Withholding? https://www.patriotsoftware.com/blog/payroll/what-employers-should-know-about-child-support-withholding/ Wed, 07 Sep 2022 17:43:00 +0000 https://pslohio.wpengine.com/uncategorized/what-employers-should-know-about-child-support-withholding/

Only 44% of custodial parents receive the full amount of child support. And when a parent doesn’t voluntarily meet their child support obligations, employers might be involved in the child support process. According to the U.S. Department of Health & Human Services, 75% of child support payments are collected through child support withholding. As an […]

]]> Not Knowing Legal vs. Illegal Payroll Deductions Can Cost You Big Time https://www.patriotsoftware.com/blog/payroll/illegal-payroll-deductions/ Mon, 22 Aug 2022 12:03:00 +0000 https://www.patriotsoftware.com/?p=56851

Part of being an employer means running payroll. And chances are, you probably have to deal with a few types of payroll deductions, like 401(k) or health insurance, when paying employees. But, what happens when you have to deal with a deduction that you don’t have consent for, like a correction for a payroll error? […]

]]> Tax-deductible Donations to Ukraine: Employee PTO Donations https://www.patriotsoftware.com/blog/payroll/tax-deductible-donations-to-ukraine-employee-pto-donations/ Wed, 29 Jun 2022 12:10:00 +0000 https://www.patriotsoftware.com/?p=56484

Russia’s invasion of Ukraine has people across the U.S. thinking of ways to donate to the Ukrainian people. Businesses giving charitable donations, like money and property, are common. But, there are other ways to contribute. Employees can make PTO donations to Ukrainian refugees to help raise money for those in need. Read on to learn […]

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