Anchor Payroll Blog

Stay on Top of Payroll Regulatory Changes

Managing payroll compliance involves much more than just issuing paychecks. It includes following wage laws, calculating taxes correctly, managing overtime, and handling benefits according to regulations. When compliance is managed effectively, it helps avoid costly penalties, strengthens employee confidence, and supports overall business efficiency.

So, what's the big deal? Misclassification is considered wage theft, whether you knowingly or accidentally misclassify employees. It could put your business at risk of an IRS audit for back taxes, severance and health care coverage for misclassified workers, in addition to legal fees, reputation damage, and even criminal and civil penalties.

Unlimited paid time off is a way to signal to employees that your firm is flexible about them taking time off as needed so long as it doesn't disrupt business. PTO, thus, becomes a way to reward the productive use of work hours.

Discover the ins and outs of the 1099 tax form and gain a comprehensive understanding of its different versions and their significance.

As we reported earlier, there’s a new I-9 form, and you should be using it for all new hires. When U.S. Citizenship and Immigration Services (USCIS) announced the new form, it also informed us about new requirements for remote verification of I-9 documents. USCIS has dubbed this the alternative procedure.

It’s hiring time! You’ve reviewed the applications, interviewed lots of fascinating people, and are ready to extend an offer. You’ve worked hard to get to this point, not only to find the right person, but also to sell them on the job. You’re probably both excited and nervous. You call the candidate, extend the offer, and give them a set time in which to make their decision.

Everyone needs time off from work, but not everyone’s able to take it. Paid time off helps a lot. People are better able to take the time they need without worrying about a smaller paycheck. Employers demonstrate to their teams that they value them as whole people and recognize that time away from work is important as well.

Answer: Investigating a claim of harassment can be intimidating, but we have a great resource available on the platform called Identifying and Preventing Workplace Harassment. For this response, we’ve provided a condensed overview of the steps for an investigation:

Given the uncertain economic outlook, more and more large and small-sized businesses have decided to reduce the size of their workforce.  The layoff process can be done in a way that minimizes litigation risks.  On the other hand, if not done properly, employers can quickly increase their risks for wrongful termination lawsuits.