Celebrating National Payroll Week

 

By Michelle Loredo

This week of Sept. 6, we are celebrating the National Payroll Week. If you’re a small business owner, this holiday is may be just the thing to implement into your business holiday celebrations. The National Payroll Week is one way to celebrate your employees and staff for their contributions to the success and profit of your small business.

We have put together everything you need to know about National Payroll Week, and resources to help you with payroll related inquires.

The National Payroll Week

This week, we are celebrating the National Payroll Week. It was founded in 1996 by the American Payroll Association to highlight the important connection between employees, the payroll staff and the government programs and agencies that employees’ payrolls fund. The APA has ways to get involved, educated on the payroll topics and paycheck tools and services to manage your finances.

APA Paycheck Tools and Resources

The APA also provides a compiled list of resources that includes paycheck tools and tax resources on their website to help you better understand your finances and help you plan for the future.

1. 401(k) Calculator: This calculator can help you see your increasing 401(k) contributions and how it may affect you in the future. It will show you how it affects your paycheck and your retirement savings.

2. Child Support: The child support resource provides a look into how employers and payroll staff help the families dependent on child support receive their payments. It breaks down the benefits of direct withholding, benefits for taxpayers, medical insurance coverage and new hire reporting.

3. Direct Deposit: The direct deposit resource clarifies frequently asked questions over this form of payment and multiple resources for consumers, employees and payroll staff. For example, it includes a guide on how to successfully set-up electronic payments.

4. Internal Revenue Service Withholding Estimator: The IRS Withholding Estimator is a free resource provided by the IRS. The estimator can help you determine how much should be withheld as taxes to complete the W-4 form.

5. Social Security Benefits: The social security resource covers all the benefits you can receive based on your earnings throughout the years. For example, it goes into detail about disability benefits, family benefits, etc.

6. Ways to Manage Your Paycheck: This resource can help you maximize your income. It covers how to cost the cost of your daily commute, college savings plan, etc.

SBDC Payroll Guidance

The UH Texas Gulf Coast SBDC Network can also guide you on how to have good payroll practices in your small business. We have free on-demand webinars that cover how to handle payroll on QuickBooks in both Spanish and English. Our business specialists and advisors can also help you put in place an efficient payroll system.