New on Thursday, September 27th
Next Thursday evening, Dominion will be releasing some improvements to the software that will help further streamline your payroll and HR processes. Please read on so you are fully aware of these updates.
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When it comes to paying your employees, there are many rules and regulations to keep in mind in order to stay in compliance with the Fair Labor Standards Act (FLSA). Chances are, you’re aware of all the statues that regulate wages, overtime pay, and other similar ideas. However, not everything is quite as clearly defined as these, and there is a lot of gray areas that payroll professionals struggle to understand. And, as if this isn’t confusing enough, these guidelines have a tendency to vary somewhat from state to state. As a Michigan-based payroll and HR software company, we at Dominion have all the resources you need to break down some of these regulations in order to make sure you’re ready to process payroll and avoid any fines and penalties that might sneak up on you.
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There are a number of factors that contribute to a truly successful business, which is why it’s important to re-evaluate your processes from time to time. You know all too well how important it is to keep paperwork organized, track your employee’s time and attendance, maintain constant communication, and measure the success of your organization, all the while ensuring your clients are happy and satisfied with the product or services they receive. However, you don’t have to do this all on your own.
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If you’re new to the payroll industry or have recently started working with a company that has employees who are not U.S. citizens, it is important to know that there are a number of things you have to remember in regards to income tax withholdings. The first thing you’ll want to do is identify all non-citizens on your company's payroll and divide those people into residents and non-residents. You can find instructions on how to do this by using the Internal Revenue Code Section 7701(b) or by a tax treaty.
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Are you happy with your payroll process? Whether you’re using a software as a service, a CPA, processing through your bank, or run in house, do you find you’ve had a lot of issues with your procedures? Have you thought about looking elsewhere? If so, now is the time to do so. I know, how could I say that if year-end is so busy already? If you’re not currently considering shopping payroll providers, you should think again. Why you ask? Well, the holiday season is one of the busiest times of the year when it comes to shopping. If you are already spending time shopping for gifts for your friends and family, why not shop for your business as well? After all, it is because of your business that you are able to purchase those gifts for family and friends, so why not do your best to improve it? If you have not changed your mind about shopping for payroll now, then you should read on.
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As a small, privately owned business, we at Dominion understand all too well that if you want to expand your reach and grow financially, it is vital to have smooth and efficient processes in place. These processes can range from onboarding to employee retention to internal trainings, and of course, payroll. These processes have to be streamlined if you want your product or service to run smooth. The faster a business grows, the more problems come along, including data security, remote access, and having sufficient backup data. These are all concerns that business owners have to constantly be thinking about.
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It doesn’t matter if you’re starting a new business, newly managing an existing one, or have been in the same position for years, it’s never a bad idea to re-evaluate your processes to make sure you’re running your business to the fullest extent. You know better than anybody how much work it takes to keep things in order, and since not all companies are run the same, it’s important to find a process that works for you. However, that doesn’t mean you have to do it on your own. Keeping your paperwork in order, monitoring your employee’s time and attendance, evaluating client needs, maintaining open communication, and measuring the success of your company on a global and personal scale, you’re probably willing to utilize as many tools as possible. That’s why today I’m going to go over the top 5 tools you should be using in order to run your company better.
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With the year coming to a close, payroll and HR professionals are starting to prepare documents, such as W-2s, and audit a year’s worth of information in order to compile accurate employee data. Depending on your process and your employee size, this task can be daunting and can even take a few months time to complete. Whether you have a few questions about year-end, or you’re looking for a full on checklist, we can help you make a smooth transition into the New Year.
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