Overtime, or OT, is typically calculated by multiplying an employee’s hourly rate by 1.5–pretty easy, right? It depends who checks your math. The Department of Labor (DOL) recently published an opinion letter on pay rates, as they relate to calculating OT. According to the letter, you can vary employees’ average hourly rates from week to…
Employees’ W-2s have now been prepared and you should have received them in the mail. Your W-2 forms are also available on your online portal located under the Reports tab. We have already filed all returns with the tax authorities but please remember to distribute all W-2s to your employees by January 31st. Please keep…
The Martin Luther King holiday will be observed on Monday, January 21. SIMA is open however, most banks will be closed. Allow an extra day for direct deposit. If your pay date is on this date please contact your payroll team at payroll@simafinancialgroup.com to let us know whether you would like to move your pay…
The current federal minimum wage rate is $7.25 per hour. However, many states have adopted minimum wage rates higher than the federal rate. When the state rate and the federal rate are different, employers must pay their employees the higher rate. The list below outlines states (and the District of Columbia) that have adopted new…
Soon, Generation Z—those born between 1996 and 2010—will be entering the workforce. Is your company somewhere they can thrive? Is it somewhere they would even want to work? If you want to attract this budding workforce, you need to understand Gen Z-ers’ motivations. For instance, Gen Z-ers have never known a life without technology. This means if…
On behalf of your payroll team we hope you have a Happy New Year! To get your year started off on the right foot, please review the New Year Payroll Checklist, review each item listed, and determine whether or not it applies to your specific payroll needs. If you have questions, you can contact a…
SIMA will be closed on Tuesday, December 25 and Tuesday, January 1 in observance of Christmas Day and New Year’s Day. Your payroll must be processed a day earlier than normal by 12:00 pm to ensure timely processing. Is your pay date on Tuesday, December 25 or Tuesday, January 1? There will be no direct…
It’s that time of year! With year-end quickly approaching we wanted to provide you with a year-end checklist to ensure you have a smooth year-end. Please make sure to review each item listed below and whether it applies to your specific payroll needs. Verify Employee W-2 Information It is important that all employee data is…
The FBI issued a public service announcement (PSA) encouraging employers to remind employees not to respond to phishing emails from cybercriminals who want access to employees’ payroll information [FBI, Alert No. I-091818-PSA, 9-18-18]. How the Scam Works The FBI said that cybercriminals are targeting employees through phishing emails designed to capture an employee’s login credentials…
National Bullying Prevention Month is recognized every October. What many people don’t realize is that workplace bullying affects more than 35 percent of adult Americans. What is Workplace Bullying? Generally, workplace bullying is defined as the use of intimidation through power, influence, tone, or language to affect a person negatively. Often, bullying is intentional, but…
