Anchor Payroll Blog

Employers in New York are subject to different minimum wages, allowable tip credits, and minimum exempt employee salaries based on where employees work and what kind of work they do. The wage increases listed below take effect on December 31, 2020.

A new $900 billion coronavirus relief bill has become law and answers the question of whether federal Emergency Paid Sick Leave (EPSL) and Emergency Family and Medical Leave (EFMLA) will be extended.

The answer is yes, but it’s an option, not a requirement. Here’s what employers need to know:

When it comes to any business with tipped employees, the FICA tip credit is very important when completing your year-end taxes with your tax preparer or CPA. The FICA tip credit can be applied to all taxes paid on tips your employees make throughout the year. 

✔ Review the payroll processing holiday schedule to avoid late direct deposits or deliveries.

Answer: We would certainly recommend not having an in-person event this year, which could put your company, employees, customers, and community at risk. If your event spreads the virus, your employees could become sick, much of your workforce may need to quarantine, and your event could make the news.

When completing performance reviews, psychologists and researchers alike agree that managers naturally exhibit bias in the ratings. To be fair and objective, a performance evaluation must be based on the employee’s job-related behavior, not on the employee’s personal traits, work situation, or other factors unrelated to employee performance. While subjectivity and partiality will never be completely removed from the process, it is important to keep some of our most common prejudices in mind when completing performance reviews. 

How often do you say “thanks” to your team? Daily, occasionally, during an annual review?

Saying thanks and showing appreciation shouldn’t be limited to special occasions. Here are four ways to create a culture of appreciation in your workplace:

Human Resources

☐ Verify home address for all employees 

☐ Reconcile all vacation/sick and/or Paid Time off balances for year-end payout or carryover if applicable

☐ Move current year terminated personnel files to storage

☐ Remind employees to file an amended W-4 if there has been a change in their filing status, exemptions, etc.

With the holidays here and year-end quickly approaching, many businesses will be looking to ramp up their workforce even more for the final holiday push. At least three key challenges exist for any business facing this need: (1) to figure out how much time and effort to invest in seasonal employees without sacrificing customer service and ongoing activities, (2) to motivate seasonal employees on the short-term goals, and (3) to utilize these opportunities to further your and their long-term needs and goals.