Frequently Asked Questions
General Questions
We work best with clients who value the personal touch that managing payroll deserves. We enjoy working with local clients that know the value of keeping resources here in our community as much as possible, and we love it when clients see our team as an extension of their staff.
Yes, Paysmart supports green initiatives and offers other options for receiving payroll reports. You can access them on our secure online portal or via e-mail.
Overtime must be paid to nonexempt employees that work more than 40 hours in a work week. A work week is seven consecutive days such as Monday-Sunday and is not contingent upon the length of the pay period. Overtime is only for hours worked, so if an employee takes a vacation or has a holiday in a work week, they may not qualify for overtime. For example, if an employee reports 43 hours but part of that was an 8 hour holiday, it is all straight time. If they work 43 hours plus have an 8 hour holiday, there are 3 hours of overtime. Overtime is calculated at time and a half.
Tax Questions
For 2022, the Federal and SC State unemployment taxes are based on the first $7,000 and $15,000 of wages earned per employee. These calculations start over every year in January, causing the employer taxes to be higher until each employee earns the required amount.
Each employee’s check stub has the filing status and the number of exemptions claimed on the W-4 they submitted.
There are many factors that impact what is best for an employee to claim on their W-4. We recommend the employee consult their tax preparer; follow the instructions on the W-4.
The amount of Federal withholding on an employee’s check is dependent upon what is claimed on the form W-4. An employee needs to make a minimum amount of gross wages before any Federal tax is withheld.
W-2s must be post marked January 31.
Yes, forms W-4 and I-9 must be kept for your employees.
No, a new W-4 is not required ever year. A new W-4 is required if any changes in withholding are requested.
Payroll Questions
Uncollected payroll checks should be turned over to the Unclaimed Funds Division of your state.
If a bank holiday is the same day as a direct deposit, the check date will have to be changed. Processing will be moved back one business day for bank holidays.
Yes. Wage garnishments are legally required to be deducted from an employee’s check until written release is received. Employers can be held responsible for ignoring a wage garnishment.
During our onboarding process, we will work with you to determine your pay frequency, what day you want your employees to be paid, and what day your payroll will be processed. Once your processing day is determined, we have a 2:00pm deadline on that day for all information to be submitted to our team.
Yes, Paysmart is pleased to offer an online option called PPX.