CompassOne Payroll

🙌🙌🙌🙌 Yes!

ANSWER: When you close due to inclement weather, nonexempt employees (those who are entitled to overtime) need to be paid only for actual hours worked plus any reporting time pay that might be required by state law.

You have the following options when it comes to if or how you pay nonexempt employees for time they missed:

📌 Pay them for the time, even though they didn’t work.
📌 Require they take the day off unpaid
📌 Require they use any available vacation time or paid time off (PTO)
📌 Allow them to choose between taking unpaid time off or using vacation or PTO

All four options have their merits. We generally recommend option 4, allowing nonexempt employees the choice of using vacation time or PTO.

Hello and happy Friday!!!

What are the five things? Here they are but we recommend reading the full article.

1. They make time to truly connect
2. They give each other space to decompress first
3. They practice “silent togetherness”
4. They have shared rituals
5. They end the day with emotional and physical connection

I’m a psychologist who studies couples: People in the happiest relationships do 5 things in the evening—instead of watching TV Many couples default to watching TV after work. But psychologist and relationship expert Mark Travers says the happiest couples use their evenings in ways that invite a little bit of novelty.

Here are the steps we recommend you take before hiring an intern:
📌Determine whether the internship should be paid or can be unpaid. For this, use the Department of Labor’s “primary beneficiary test” explained in the guide linked below. If there’s any doubt about whether an intern should be paid, the safest option is to pay.
📌Define the internship clearly so both parties understand their duties and expectations, including any pay and benefits offered.
📌Be clear about how much supervision the intern will receive, and who should be providing it. Reliable supervision is key to preventing problems and maximizing the benefit for both parties.
📌If the internship is unpaid, get documentation from the intern’s school explaining the educational relevance of the internship and whether it will earn the student credits.
Review your business liability insurance policies for coverage or exclusions of unpaid interns.
📌Ensure that you’re complying with child labor laws. If you’re hiring minors, federal and state child labor provisions might apply.

SBA Launches New Capital Boost for Small Businesses. Here's what you need to know. Full article attached.

1. The SBA is expanding access to flexible working capital
The new program is designed to help small businesses access funding that works more like an ongoing line of credit instead of a traditional lump-sum loan. That flexibility can help businesses manage cash flow, take on new projects, and respond faster to growth opportunities.

2. The goal is to make growth financing easier to use
The initiative is meant to reduce friction in borrowing by offering structures that better match how small businesses actually operate—especially businesses that need funding for inventory, customer orders, operating expenses, or expansion.

3. This reflects a broader SBA push to increase capital access
The launch fits into a larger effort by the SBA to expand lending options and reach more small businesses through updated loan products and increased financing availability. Recent SBA efforts have focused on widening access to capital and supporting business growth at different stages.

SBA Launches New Capital Boost for Small Businesses Entrepreneurs will soon be able to take out more government-backed loans. But how meaningful is that as inflation hammers consumers and businesses alike?

Check out our blog post about understanding payroll taxes. Link to the full blog below but here are our three take aways.

1. Payroll taxes are shared responsibilities between employers and employees. Employers must withhold federal, state, Social Security, and Medicare taxes from paychecks, while also contributing their own share for programs like Social Security, Medicare, and unemployment insurance.

2. Accuracy and compliance are critical. Mistakes in calculating, withholding, or filing payroll taxes can lead to penalties and audits, which is why many businesses use payroll software or outside providers to manage the process.

3. Payroll taxes fund important public programs. The taxes collected help support Social Security, Medicare, unemployment benefits, and other government services that employees may rely on later in life.

https://payrollmanagementexpertinrochesterny.org/understanding-payroll-taxes-a-guide-for-rochester-employers-and-employees/

100%!!!! Have a great weekend, friends.

That “tax hack” you saw on TikTok could end with an IRS letter instead of a bigger refund. 💸📱

NPR says before you trust social media tax advice, ask:
• Is the source actually qualified?
• Does it sound too good to be true?
• Can it be verified somewhere reputable?

Because “viral” and “legal” are not the same thing.

Can you write off a pet dog? How to vet tax advice from social media So you heard a piece of tax advice from a friend or on social media that sounds interesting. Should you try it? A certified public accountant explains how to vet the claim — and avoid getting scammed.

Merch is the new loyalty program! Check out this article on how businesses are working to build a fanbase.

Why so many small businesses are selling hats now Restaurant merch "is the new band tee."