For many employees, payday is up there with Christmas and birthdays — but even better since it comes around more than once a year. For employers, on the other hand, payday can be a never-ending and sometimes pretty stressful responsibility. While payroll services and software are readily available, employers may still have to devote a good chunk of time and grit to comply with both employment and tax laws to make sure payroll flows smoothly each pay period. Thankfully, there are some general guidelines to follow when it comes to basic payroll calculations.
Laying the Groundwork
An employee should complete a federal tax withholding form, also known as the Employee Withholding Allowance Certificate, or W-4 form. A state tax withholding form may also be required. Based on the form(s), the company can then calculate how much money to deduct toward taxes (more on that soon).
Before it’s time to crunch numbers, it’s necessary to determine each employee’s gross pay (generally the number of hours worked in a pay period multiplied by the hourly rate). For instance, if an employee logged 40 hours at $20 an hour, his gross pay would be $800. If required, calculate overtime for non-exempt workers (at least one and a half times the regular rate of pay after 40 hours worked in a workweek). Exempt workers are not required to be paid overtime. Check out the Department of Labor’s criteria on overtime.
Calculating the correct amount for the taxes can be tricky. While it would be simple if taxes were based on employees gross pay, payroll generally doesn’t work like that.
Please note this is not an endorsement of Sure Payroll's services. We are not clients. This article is being shared for information purposes only.
On Sunday, June 29th, we ended our third season of networking meetups by hosting our first guest speaker, Ashley M. Coleman of WriteLaughDream.com and creator of the Bold, Brown, & Beautiful series, at Neely's BBQ Parlor (1125 1st Ave). The topic was "When Will We Be Enough?" and Ashley led a lively discussion on everything from the controversy surrounding Blue Ivy's hair, black women's portrayal on both reality shows, scripted series, and music videos, side jawn (side chick) culture, and prejudice within our own communities regarding skin complexion.
At the conclusion of the event, Ashley posed this question to everyone at the table "Why are you enough?"
"I'm good enough because I said so." said Toosdhi Perry of Philadelphia, PA.
It was a very enlightening afternoon and we would just like to thank Ashley for joining us in spreading her message to educate and uplift women's self esteem and confidence.
To find out more about Ashley please visit www.writelaughdream.com . Her book Dear Love: A Love Letter to You is now available.
Thank you to all who came out!
Toosdhi Perry - Independent Insurance Broker, TNP Insurance Group, LLC
Erica Martin, Esq. - Owner/Founder, Ground Up Legal
www.grounduplegal.com | Tweet @GroundUpLegal
Tiffany Mercer-Robbins - Owner/Photographer, GATC Photography
Amanda Littlejohn - Business Resiliency Analyst
Niesha Miller - Multimedia Specialist
Marsha Perry - Educator
Thank you to our gift bag sponsors Boo Boo Cover Up, Eden Body Works, Juice Beauty, and Crystal Deodorant.
This past Sunday, June 8th, we hosted our signature Let's Do Brunch! meetup at Red Owl Tavern (433 Chestnut Street).
Our Business Girl Topic of the Day was "Save Me Olivia Pope: When Entrepreneurs Are in Crisis" which addressed the best ways to cope with our personal issues and still effectively run our business. It's important to not let the obstacles and challenges that we must go through in life keep us down. Also consider creating a crisis plan and think of solutions that could help you get through problems that could impact your ability to operate effectively. Here are a few tips:
1. Cultivate an identity apart from your company. Your self-worth cannot be measured in net worth.
2. Take time out to do something you enjoy. Constantly renew yourself and your perspective – by reading, learning new things, etc.
3. Economic crises are the biggest challenge that businesses face. They can cause serious hardships so have a plan in place to respond to these conditions.
4. Set a limit on how much of your own money you’re prepared to invest in your business and don’t let friends and family kick in more than they can afford to lose.
5. Know when to check out. Take time for yourself when necessary. Also take a digital vacation away from checking email and checking into social media to recollect and reflect.
6. Maintain your temple with cardiovascular exercise, a healthy diet, and adequate sleep.
7. Don’t be afraid to ask for help when in need. Be emotionally honest with yourself. If your thoughts are getting you down don’t ignore them. Keep a journal or blog about it. Just don’t bottle them up so much that they become dangerous. Seek out professional help if necessary.
Cathryn Ortiz - Sales Representative, Premier Designs
Toosdhi Perry - Independent Insurance Agent
Christina Barker - Independent Insurance Agent, Saving Grace Insurance,
Janelle Johnson - Healthy Living Blogger, Run With No Regrets
Desiree Stafford - Speaker, Author and Creator of the Queen of Attraction Marketing System and The Abundant Cash Flow Method
Karima Renee - Owner/Stylist, Skinny Minority
www.skinnyminority.com | Tweet & IG @skinnyminority
Arlett Hartie - Blogger, Chasing Joy
A special thank you to our #HelloSummerGoodies Gift Bag sponsors: Crystal Deodorant, Oyin Handmade, Juice Beauty, and Eden Body Works. Please visit the Sponsors page for more information.
Philadelphia - Sunday, June 8th -- http://100businessgirlsphl614.eventbrite.com
New York City - Sunday, June 29th -- http://100businessgirlsnyc614.eventbrite.com
Special thanks to our gift bag sponsors:
Meet Tiffany Washington and Jo-Laine Dukes-Collins. Two ladies with a passion for sweet treats and design. As they have outgrown their home kitchens and want to take their business to a new level - they are opening a storefront location in Brooklyn this summer.
In order to provide a unique and inviting space for the neighborhood and customers, they've launched a Kickstarter campaign to raise funds throughout the month of May. The IMBK Kickstarter campaign runs through June 2, 2014 and here's how you can help.
Date: Tuesday, May 13th
Time: 6pm - 10pm
Location: Albella Italian Restaurant & Bar
10 Reade Street (Corner of Elk & Reede)
New York, NY 10007
Hosted by The Bizness Girl and Simply Sensational Inc.
The evening will feature a Live Radio Broadcast on BKS1radio.com with R&B girl group, Allure ("All Cried Out" feat. 112, "Head Over Heels" feat. Nas & Mariah Carey). Highlighted business owners of the evening include fashion event specialist, Tai Chunn, networking guru James Frazier of Ashea Management & Entertainment, and emerging entertainment powerhouse, Stacey Brewer Esq. of Hampton Blu Entertainment.
General Admission: FREE/Please send your RSVP to: firstname.lastname@example.org
VIP Business Hub: $30 (includes designated private area with food & beverage). PURCHASE VIP TICKETS.
SMALL BUSINESS PROMOTIONAL PACKAGES ARE AVAILABLE
$125 - TOTAL Package
- Table display of products (within VIP area or General Area. Option left to sponsor).
- Sample products placed within gift bags.
- Company mention and link in recap on www.100BusinessGirls.com
- Company mention in post-press release (release is distributed to local and national media and is posted on the world press release service).
- Pre-promotion and post-update via social media.
- Company mentioned during live radio broadcast.
- Company mentioned during event.
- Two VIP Passes.
- Table display of products in General Area.
- One VIP Pass.
- Gift Bag Placement (minimum of 50 items).
- One VIP Pass.
For more information regarding this opportunity please contact Etophia Lane at email@example.com.
FOR IMMEDIATE RELEASE
70 Tips for Women in Business Nominated For the 2014 Small Business Book AwardsCleveland, OH, April 30, 2014 - #100BusinessGirls Essentials 70 Tips for Women in Business: A Compilation to Get Unstuck! has been nominated for the 2014 Small Business Book Awards in the category of Motivation.
The Small Business Book Awards celebrate the best business books that appeal to entrepreneurs, small business owners, CEOs, managers and their staffs. The Awards also recognize key resources supporting business book authors and the publishing industry.
The Small Business Book Awards are more than just an honor -- they include a prestigious online event in which readers, fans, book lovers and the small business community show their support for authors and others in the industry. Social media sharing is encouraged, and the Awards technology platform enables book authors to network and engage online with readers and fans.
"Today's business owners are hungry for information and insights to help them run a successful business. Also, they use books as a way to grow and develop their employees and management teams. The Small Business Book Awards are a way to acknowledge the books that small business owners and entrepreneurs appreciated over the past year," said Ivana Taylor, Book Editor at Small Business Trends, which produces the Awards.
"I wrote this book as an easy to read pocket gem for the woman entrepreneur on the go. It's a tremendous honor to receive an award nomination," noted Jamillah Johnson, author of 70 Tips and co-Founder of #100BusinessGirls.
"This year we've changed a few things. For the first time The Small Business Book Awards are a judged competition, based on excellence. A Judging Panel will determine the winners. We still have Community Voting -- the Community will choose for the 'Community Choice' designation of winners." noted Anita Campbell, CEO of Small Business Trends and Founder of the Awards.
Voting begins May 1 and concludes May 28, 2014. Click here to place your vote for 70 Tips for Women in Business or visit: http://bookawards.smallbiztrends.com/motivation-2014/70-tips-for-women-in-business/.
About the Small Business Book Awards
The 2014 The Small Business Book Awards are now in their 6th year. More than just an honor, the Awards are a unique social online event that enables the small business community to nominate, show their support for, and vote on their favorite business books. The Awards combine recognition for a job well done, honors and prestige -- along with providing a high-profile opportunity for authors to engage with fans, network through social media, and increase publicity. The Small Business Book Awards are produced by Small Business Trends, an award-winning online publication, which along with its sister sites, serves over 6,000,000 small business owners, stakeholders and entrepreneurs annually. Small Business Trends for the past six years has published weekend reviews of small business books, amassing nearly 500 independent reviews.
Small Business Trends
888.842.1186, ext. 701
Twitter hashtag: #BizBookAwards
Jamillah Johnson and #100BusinessGirls
Twitter Hashtag: #70Tips
(Front) L to R: Etophia Lane, Ernestine Johnson, Gwen Green, Jamie Gracia, Jamillah Johnson, Velvet Lattimore, Marsha Perry, Toosdhi Perry, Tanya Brown, Novagrami George, Nzinga Basir. (Back Row) L to R: Christina Barker, Deborah Clark, LaVelle Cook, Kenya Murray, Marian Andoh, and Jessica Sawyer.
On Saturday, March 29th, we hosted our first NYC Let's Do Brunch! Meetup of 2014 at Suite 36 (16 W. 36th Street).
Our Business Girl Topic of the Day was "3-2-1 Contract: The Importance of Having Agreements in Writing". As an entrepreneur, how important are contracts to your business?
Here are few quick tips:
1. All parties involved should come up with an agreement that is beneficial to everyone.
2. Require a deposit/Make sure you pay the required deposit for work to get started. This could be a 40-50% deposit due up front, with remaining balance due upon completion. Payment schedule will vary depending on the length of the project.
3. Shop around to find people that meet your budget or save up to hire the person you want.
4. If you can't meet your obligation, don't go dark. Communicate, apologize, promise to make it up, and set a new reasonable deadline.
5. Set up a cancellation fee in case you need to get out of the contract and include other protective clauses for deadlines, delays, etc.
Thank you to everyone who braved the rainy weather to make it out.
Ernestine Johnson - CEO, Syncrani LLC
Velvet Lattimore - Owner, Vedazzling Accessories
145 Front Street, DUMBO Brooklyn
Kenya Murray - Owner, Like A Celebrity Concierge + Lifestyle Management
LaVelle Cook - CEO/Writer, Dew Season (Publishing)
www.indewtime.com - Coming Soon
Marian Andoh - co-Owner, J & M Event Design
Jessica Sawyer - co-Owner, J & M Event Design
Tanya Brown - Owner, Lauren St. Julian (Jewelry)
Gwen Green - Owner, Ms. BoDangles Hat Design
Toosdhi Perry - Independent Medicare Advantage Agent
Christina Barker - Engineer
Jamie Gracia - Aspiring Entrepreneur
Nzinga Basir - Program Manager
Marsha Perry - Educator
Deborah Clark -Writer & Reviewer for Goldstar.com
Novagrami George - Research Coordinator
Details for our next meetups will be announced soon!
Pictured L to R, Front Row: Jamillah Johnson, Karima Renee, Deja Cromartie, Lisa Reed, Etophia Lane,
L to R, Back Row: Ernestine Johnson, Cheri Davis, and Toosdhi Perry
On Sunday, January 26th we kicked off our 2014 meetup season in Philadelphia at Square 1682 (121 S. 17th Street). Our Business Girl Topic of the Day was "Sexism and the Female Entrepreneur" which sparked a great conversation over lunch with everyone sharing their experiences and coming up with solutions.
We also discussed Pantene's commercial from the Philippines that went viral receiving over 37 million views on YouTube, "Labels Against Women", that examines the double standards that exists in the workplace when it comes to professional women. Take a look.
Here's a question for you:
Do you believe being an entrepreneur keeps you from encountering the glass ceiling that can prevail in a male dominated corporate environment?
Thanks to everyone that braved the cold to join us:
Ernestine Johnson - CEO|, Syncrani LLC
Lisa Reed - Owner, Your Location Spa Destination
Toosdhi Perry - Independent Medicare Advantage Agent
Cheri Davis - Graphic Designer
Karima Renee - Owner/Stylist, Skinny Minority
Deja Cromartie - Publicist, Deluxe Publicity
Our next meetup will be in New York City in March 2014. More details will be available in the coming weeks.