Taxes

The Payroll Tax Deferral Explained

What Happened? On August 9, 2020, President Donald Trump issued a handful of executive orders (or memorandums) in an attempt to revive the U.S. economy. One of those executive orders pertains to a “payroll tax deferral”, which provides vital funding for Medicare and Social Security. This has left many people confused, including countless business owners […]

FFCRA and Family Leave Act signed into law

Last night, President Trump signed the Families First Coronavirus Response Act into legislation. The Act will require certain employers with under 500 employees to provide emergency paid sick leave for their employees. Our team has gone through this new legislation, and our general findings are below. It is important to note that this is not […]

#COVID-19 updates

When it comes to the coronavirus and proposed payroll tax cut changes, #southernpayroll&benefits wanted to be sure to update our clients and partners.  We realize that in many instances, this outbreak has had a negative impact on your business or personal lives, and we are here to help in whichever manner we are able. First […]

1099 vs W2 – What’s the Difference & Why Does It Matter?

So, you’re looking to hire your first employee? Congrats! This a huge step for any business owner, but it also begs the question, ‘Is my new-hire a W2 employee, or a 1099 independent contractor?’ With many business owners, they have no clue what the difference is between W2 or 1099, which is not at all […]

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