Payroll

As part of the CARES Act, the government released the Paycheck Protection Program (PPP) to help protect and sustain US small businesses during the COVID-19 pandemic. As long as the loan amount is used towards payroll and eligible business expenses, it does not have to be repaid and will be fully forgiven.

Are you in a fix whether to process your payroll weekly, bi-weekly or semi-monthly? If that is so, then don’t worry we are about to shed some light on this. You will soon unearth the ideal modus operandi to process your payroll, and finally, get rid of the conflict that you have been pondering over.

A pay stub is part of a paycheck that enumerates information about the employee’s pay. It lists the wages earned for the pay period and year-to-date payroll. The pay stub also attests to taxes and other deductions taken out of an employee’s income. And, the pay stub shows the amount the employee receives (net pay).

On Aug. 8, 2020, President Donald Trump issued an executive order which deferred payroll tax obligation for employees in light of the ongoing COVID-19 crisis.

Although it simply isn’t possible for many businesses to completely eliminate the use of paper, even a small reduction can yield enormous overhead savings, enhanced data security, and increased efficiency overall.

Calculating deductions and withholdings can be a complicated task for any business. Deductions and withholdings, which are mandated by both state and federal laws, can be voluntary or court-ordered, so they may vary widely from employee to employee.

The Paycheck Protection Program (PPP) has run out of funds. Yes, you read that right. On April 16, the PPP exhausted nearly $350 billion allotted for low-interest loans designed to help small businesses stay afloat throughout the COVID-19 pandemic.