In many types of service industries, employees can receive tips in addition to their regular wages. If your employees earn tips, you may consider giving tip pooling a try. Keep reading to learn all about tip pooling, including how it works and tip pooling laws you need to follow.
Read More Ready to Dive Right Into Tip Pooling? Read This Before You Take the PlungeCompensation Articles
Compensation - Tips, Training, and News
How to Handle a Tipped Employee and Their Pay
As a business owner and employer, there may be times when your employees receive tips. But, does receiving a tip from a customer automatically make an employee a tipped employee? And if so, what are the laws, regulations, and requirements for tipped employees and their wages? Keep reading to learn more about how to handle […]
Read More How to Handle a Tipped Employee and Their Pay
What Is Per Diem?
When employees incur travel-related business expenses, you might consider covering their costs. You can reimburse employees for expenses by giving them per diem pay. What is per diem pay?
Read More What Is Per Diem?
What Is Profit Sharing, and How Can it Benefit Your Business?
This article has been updated to include 2023 information. Looking to offer your employees an additional benefit? Consider creating a profit-sharing plan. But before you run off and create a plan, you need to know what is profit sharing. Read on to learn all about profit sharing, including how it works and steps for creating […]
Read More What Is Profit Sharing, and How Can it Benefit Your Business?
What Is Commission?
Typically, employers provide hourly or salary wages to workers. However, some business owners pay commission to employees. What is commission?
Read More What Is Commission?
What You Need to Know About Supplemental Wages
Regular wages aren’t the only compensation you could provide to employees. You might also offer supplemental wages. Not sure what those are? Read on to learn what supplemental pay is and how it is taxed.
Read More What You Need to Know About Supplemental Wages
What Is the Bonus Tax Rate?
Picture your star employees and how much value they add to your business. Many employers recognize their employees’ value with bonus pay. When you give an employee a bonus, you are required to withhold taxes on the additional money. To figure out how much to withhold, you need to understand the bonus tax rate.
Read More What Is the Bonus Tax Rate?
Everything You Need to Know Before Offering a Sign-on Bonus
You’re struggling to find good, quality candidates to fill an open position. Or, you’ve found the perfect candidate and want to sweeten the job offer. What do you do? In either case, you may consider offering a sign-on bonus.
Read More Everything You Need to Know Before Offering a Sign-on Bonus
What Are Allocated Tips?
In the foodservice industry, tips are an important part of employee compensation. Tips are added to employee wages so they can earn at least minimum wage. But, what happens when a tipped employee earns few tips?
Read More What Are Allocated Tips?
How to Pay Yourself from Your Business
You know by now that running your own business doesn’t mean you sit around as stacks of cash come flooding into your office. Being a business owner means being busy nonstop to keep up with operations. Since running a business is your full-time job, you need to know how to pay yourself from your business.
Read More How to Pay Yourself from Your Business
