This article discusses how important culture can be in all aspects of a company. For example, “77% of adults polled would consider a company's culture before applying for a job.” From understanding your current culture to tips for improvement, this article discusses the keys that you should be paying attention to.
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When it comes to an employer's responsibility for non-exempt workers, according to the U.S. Department of Labor, there are many requirements businesses must follow related to payroll. In one example, there are strict regulations on what information employers must document for each non-exempt worker. While there's no requirement on how the information is recorded, there are three main categories. 
Personal details: This should include the employee’s name, complete address, Social Security number, date of birth and gender. 
Job details: This must include the worker’s job description and hours clocked in each day and week. 
Pay details: The employee’s hourly wage based on straight time, and how employees are compensated – be it hourly, weekly, by project or item-based. Records should include the number of hours worked each week, per day or per week non-overtime earnings, overtime earnings per work week, and the compensation paid to the employee for the pay period. Also included should be the day of the employee's check, the time period of the work described, and all deductions or increases to the worker’s wages. 
Depending on the type of record, employers have different time requirements for record archival. Payroll records must be maintained for 36 months. Schedules, timecards and deduction records for employee earnings must be held for 24 months and be readily accessible for inspection by the U.S. Department of Labor. 
When there is minimal deviation from an employee’s schedule, employers simply have to confirm the employee adhered to the schedule. When there is a large deviation (working fewer or more hours than normally scheduled), the actual number of hours worked should be noted. It doesn't matter how time is kept for an employee, as long as it's kept – be it manually written by the worker, a supervisor or HR rep or with a time clock. 
Other Documentation 
The IRS explains that employers are required to complete Form W-2 to maintain compliance with tip and wage payments. This should be completed and submitted by the end of the calendar year. 
Employees who fill out the Form W-4 can mitigate estimated tax liability by specifying how much to have withheld from their compensation by their employer. An employee can claim exemption from federal income tax withholding if she had no income tax liability the prior year and does not expect to pay taxes in the coming year. However, the employer is still required to deduct the FICA tax for that employee. 
FICA Tax 
Also known as the Federal Insurance Contributions Act (FICA), employers are required to withhold two different types of taxes: Social Security and Medicare. According to the Internal Revenue Service (IRS), employers are responsible to calculate and remit these taxes based upon each employee’s wages.  
For the 2019 tax year, Social Security taxes for employer and employee are both 6.2 percent, or 12.4 percent total. This tax is limited to the first $132,900 in wages. The Medicare withholding rate is 1.45 percent of wages for both employer and employee, totaling 2.9 percent. Unlike Social Security taxes, for Medicare there's no cap on the employee's total salary. Additionally, for wages exceeding $200,000 for 2019, only the employee is taxed an additional 0.9 percent, in addition to the 1.45 percent (for a total of 2.35 percent of any wages exceeding $200,000 for the 2019 calendar tax year) for Medicare taxes. 
Individual Estimated Taxes 
Estimated Taxes are meant to satisfy many forms of taxes, and not just income tax obligations. They also includes the alternative minimum tax (AMT) and self-employment taxes. Whether it's a single entrepreneur, a business partner or someone with equity in an S corporation, as long as they have $1,000 or greater in tax obligations, they have to pay estimated taxes, generally on a quarterly basis. When it comes to corporations, the threshold for estimated tax payments is $500 when they prepare their taxes.  In addition to taxpayers under the tax liabilities outlined above, estimated taxes are not required for individuals who meet the following: there was no tax owed for the preceding year, the individual was a U.S. citizen or resident for the entire year, and the last tax year was for 12 months. Also note that self-employed workers must pay both the employer and employee portion of the FICA tax. 
Much like the evolving landscaping of the U.S. Tax Code, the world of payroll is also subject to ongoing changes that are imperative to maintaining compliance. 
Sources:
https://www.dol.gov/whd/regs/compliance/whdfs21.htm
https://www.irs.gov/businesses/small-businesses-self-employed/understanding-employment-taxes
Though a wide variety of helpful communication technologies have developed over the last few years, convincing companies to adopt them takes time. In a recent article for Employee Benefit Adviser, Caroline Hroncich addresses why it’s time for employers to seriously consider upgrading.
Benefits advisers need to adjust their frame of reference in order to catch up with the times. Hroncich recommends that they:
For more details, read the article in full at Employee Benefit Adviser.
This article discusses what SIP trunking is and how it could potentially help your business grow. SIP trunking is essentially the ability to make or receive phone calls over the internet as long as both parties have a phone number. It is cheaper for most clients and can save money in the long haul for your entire office. 
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In a world that is mostly living online in different social media platforms, it is important to remember what human to human interaction can do. This article discusses how entrepreneurs can look forward and make a new human-focused future.
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Many business strategies focus on cost-cutting. However, these strategies can hurt branding, growth, and profits. 
This article discusses why marketers cannot cost-cut their way to growth. 
To view this article, click HERE to access the original content.
Early-stage businesses should focus on key qualities when hiring employees because a business's success relies on the quality of these hires. 
This article discusses four top qualities to look for when hiring employees. 
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Ivy Lee was a businessman and productivity consultant working in America in the early 20th century. He developed a powerful method for increasing productivity. In a recent article, author James Clear examines the Ivy Lee Method and breaks down why it is so effective. 
What is the Ivy Lee Method? 
Ivy Lee’s method requires a simple daily routine. At the end of each workday, record six important tasks you need to accomplish the next day, prioritizing them by importance. Upon getting to work the next day, start in on the first item on your list. Complete it, and move on to the next task; then the next. If you don’t finish your tasks, simply move the unfinished items onto the next day’s list. Repeat daily.
 Why is the Ivy Lee Method so Effective? 
This straightforward method yields fantastic results. Why? 
For more details, read the article in full at James Clear.
The key to business success is the motivation and hard work of employees.
This article discusses six unconventional initiatives companies should try to boost workplace motivation.
To view this article, click HERE to access the original content.
These days, people who live to age 65 can expect to live at least another 20 years, statistically. That means many are likely to require some form of assisted caregiving. According to aging experts, the following guidelines describe characteristics of those most likely to need long-term care: 
As for family caregivers, the typical profile has been shifting over the past few years. The following are some interesting new statistics from Genworth Financial, a leader in long-term care insurance. 
Long-Term Services and Support
Caregiving needs can vary dramatically depending on the recipient’s condition. For the convenience of categorization, the term “long-term services and supports” (LTSS) refers to assistance with daily tasks such as bathing, dressing, preparing meals and doing household chores. A recent study reported that the average cost for people with high LTSS needs is about $10,000 a year. 
How to Pay for Elderly Caregiving
One of the biggest problems in retirement planning is how to pay for long-term caregiving. Today, only 7 percent of the $300 billion the United States spends on long-term support and services is paid for through private insurance. According to the USC Leonard Davis School of Gerontology, about half of the U.S. population will be paying out-of-pocket for LTSS expenses by 2025. 
While fees vary based on location and other benefits, the following are national averages for various types of long-term care services. 
Annual Cost
Health Insurance
Regular health insurance covers only acute care, such as rehabilitation after a hospital stay. It is not designed to cover the cost of caregiving over the long haul. 
Medicare
Medicare used to pay for nursing home care only after a hospital stay, limited to 100 days. However, starting in 2019, Medicare Advantage (MA) plans are allowed to offer coverage for certain long-term care services as deemed medically appropriate by a licensed health care provider. Each insurer has the ability to define coverage options. Be aware that this new rule pertains only to MA plans, not original Medicare. 
Long-Term Care Insurance
Long-term care insurance (LTCI) is specifically designed to cover caregiving associated with serious impairment over a limited period of time, such as three years. Today, about 40 percent of employers offer some form of long-term care insurance. In most cases, the policy is offered on a voluntary basis in which employees pay the full premium. 
Retirement Community
Another option for tailored long-term caregiving is moving into a Continuing Care Retirement Community (CCRC). This type of community provides a progression of residence and care as a person’s health declines, ranging from an independent house or apartment, to assisted living, to memory care or skilled nursing for life. This type of community is typically rich in amenities, such as a community dining room, entertainment venue, fitness center and wellness programs, plus cultural arts and shopping excursions. 
There are about 2,000 CCRCs nationwide, many with waitlists, and they are quite expensive, relative to other senior living options. To qualify, generally, you must be at least 62 and healthy enough to live independently. The entry fee ranges from less than $100,000 to more than $1 million, averaging about $320,000. Residents also pay a monthly fee, which averages $3,266 nationwide and tends to increase by three to four percent each year. Once residents die, their heirs can sell the property to another buyer who meets the entry criteria, and the CCRC may be entitled to part of any home-price appreciation. 
Bear in mind that one of the primary reasons to make caregiving expenses a key part of retirement planning is to protect a household’s overall finances. In other words, you don’t want a couple’s entire nest egg used to pay for caregiving expenses of one disabled spouse – with nothing left over for the other spouse to live on.
