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Latest insights from the experts at PaycheckCity

Updates to 2024 Federal Taxes

IRS has updated tax brackets for 2024. See how this affects your first paycheck this year!

2024 Federal Benefit Limits Increase

Check out the updated 2024 Federal benefit limits for 401(k), HSA, and simple IRA, and more. Stay informed and plan your finances with confidence!

Maximize Your 401k Contributions in 2024: A Guide with Calculator

New updates to the 2023 and 2024 401k contribution limits. Use a free paycheck calculator to gain insights to your 401k and financial future.

Still Waiting on Your 2023 Bonus?

Unlock the secrets of your 2023 bonus taxes with our guide, and use our Bonus Pay Percent Calculator for an instant breakdown of your take-home pay.

How Much of Your Bonus Will You Take Home?

It’s the 2023 holiday season, and for fortunate employees, that means an end-of-year bonus! Yet many employees are disappointed when their bonus lands in their bank – usually a lower amount than anticipated. Here's a quick guide to help workers understand how bonuses are taxed.

What’s the difference between W2 and W3 tax forms?

Don't let the W-2 and W-3 tax forms confuse you, understand the difference and file your taxes with confidence!

How is Federal Withholding Calculated?

Federal withholding, also known as payroll withholding tax, is a tax on income that is withheld from your wages. Here's how it is calculated.

The Most Common W-4 Questions

How often should you submit a new W-4? What is your filing status? In this article, we break down some of the most common W-4 questions.

What Is Self-Employment Tax?

Self-employed individuals are subject to different challenges when it comes to taxes. Staying diligent and keeping accurate records can go a long way in easing the frustration.

Where Does Your Holiday Bonus Go?

If you get a bonus, you might notice it’s smaller than you expected. That’s because bonuses are actually taxed at a higher tax percentage than your normal paycheck.

Ten Small Cities to Start a Business in 2023

Are you starting a new business? Have you thought about where you would like to start a business? Learn more about the best small cities to start a business.

How Do I Determine My Filing Status?

Your filing status is perhaps the most important piece of information when it comes to tax withholding. Learn which filing status applies to you.

How To Calculate Your Federal Taxes By Hand

Easy step-by-step instructions to manually calculate your paycheck's federal income tax, Social Security tax, and Medicare tax with examples.

Understanding the Earned Income Tax Credit

The EITC, also known as EIC, is a tax credit provided to lower income workers to help offset the basic living expenses. Here's how to know if you're eligible.

Tax Day 2023 And How To Get An Extension From The IRS

Tax Day is on Tuesday, Apr 18, 2023. Not ready to file? Submit an electronic request to the IRS for an extension ASAP!

Form 940 Filing Deadline Quickly Approaching

As the deadline to turn in Form 940 and deposit FUTA tax for 2024 approaches, PaycheckCity wants to make sure you know how the deadlines can change!

4 Mistakes Small Businesses Should Avoid

Making mistakes is a part of starting a business, but knowing what mistakes to avoid will help small business owners in their long-term journey to success. Here are four mistakes small business owners should avoid.

What is an Auto-IRA?

States are slowing beginning to provide state-run auto-IRA programs to bridge the gap for small businesses to afford retirement plans for their employees.

Tips For Classifying Workers

Knowing how to classify independent contractors and employees can save an employer time and money. Here are some tips to classify workers.

5 Small Business Trends to Expect in 2022

The pandemic has definitely made its mark upon the world, especially in the business world. Small business owners found themselves changing and adapting to every new thing that was thrown at them and a few trends are expected to stay in 2022.

Delaware Provides Updates For Form W-2 and Form 1099

Delaware has provided updates on its Frequently Asked Questions regarding Form W-2 and Form 1099. These updates may affect how Delaware residents file for tax year 2021.

New Notice For Reporting Qualified Sick and Family Leave Wages

A new notice from the IRS has been released to provide guidance to employers on how to report qualified sick and family leave wages in 2021.

The Future of Telecommuting and Employee State Income Tax

Employees who continue to work online rather than commute to a brick-and-mortar establishment may find themselves liable for taxes in both the state where they live and the state where the employer is located. To avoid confusion when withholding, both the employee and the employer should be aware of the tax laws in each state.

Form 941 Updates for 2nd Quarter of 2021

The most recent version of Form 941, revised June 2021, should be used for the second, third, and fourth quarters of 2021. Employers should know what has changed on Form 941 and in the instructions.

What is An EIN and How Do I Apply?

An EIN is a unique number that is designated by the IRS to a business. Many aspects of running a business may require you to provide an Employer Identification Number. Here's how to apply for an EIN and when you might need it.

Small Business Tax Credit for Vaccination Paid Leave

According to President Biden's recent announcement, you can now take time off of work to get the COVID-19 vaccine and extra time for recovery without worrying!

Recent Payments Provided by the American Rescue Plan Act of 2021

Since March 11, four Economic Impact Payments have been issued as part of the American Rescue Plan Act of 2021. Learn more about when these payments were issued and who the recipients are.

What Small Businesses Need to Know About W-2s and Social Security Numbers

As a small business owner, it is crucial to know when you can or cannot truncate an employee's Social Security Number to avoid issues, delays, and possible fines.

Breaking Update to the Paycheck Protection Program

Recent changes to the Paycheck Protection Program provide more benefits for small business owners, sole proprietors, independent contractors and self-employed individuals. Learn more about the changes beginning on February 24th.

Protect Yourself from Unemployment Insurance Fraud

Since the Covid-19 Pandemic started in March 2020 the DOL has seen a large increase in the number of fraudulent Unemployment Insurance claims. Learn how to protect yourself from becoming a victim.

Three Things Your Small Business Needs to Know About PPP Loans

To assist small businesses during COVID-19, the Paycheck Protection Program relaunched on January 11, 2021 to provide more funds to eligible small businesses.

Filing Form 941 Accurately and On Time

Small business owners withholding federal taxes, social security tax and Medicare tax will need to file the Employer's Quarterly Federal Tax Return. PaycheckCity wants to make sure you know when to turn it in!

The Memorandum on Deferring Payroll Taxes: One Month Update

On August 8th, 2020, President Trump signed the Memorandum on Deferring Payroll Tax Obligations. We are now one month into the deferral period, and many questions are still circulating.

4 Easy Ways to Get More From Your Pay During NPW

Making small but well-planned adjustments can help you reach your financial goals for today and the future. Be sure to take the “Getting Paid In America” survey. While you’re at it, enter to win a free paycheck from the American Payroll Association in honor of the best week of the year.

4 (Socially Distanced) Ways to Get Involved with National Payroll Week

National Payroll Week® is a special week enjoyed by many payroll professionals and employees! Find out how you can be involved this year through virtual celebrations!

National Payroll Week is Just Around the Corner!

Enter to win a free paycheck and your dream vacation!

How Tips are Taxed

In the service industry, employees often receive tips from customers. It is important for employers to know how to tax and report tips to stay compliant.

IRS Revises Form 941 for COVID-19

The IRS has stated that the new 941 should be used starting with second quarter of 2020 to report retained taxes under the COVID-19 tax credits.

Severance Pay for Small Business

In the case that a business must lay off personnel due to unforeseen circumstances, it is wise to know what is expected regarding severance pay.

How Small Businesses Will Benefit from the Stimulus Bill

The majority of this financial relief from the $2 trillion COVID-19 stimulus bill will mostly benefit large corporations; however, $350 billion will be offered to assist small businesses. Small businesses should know if they're eligible, how much they will receive and how to apply for it.

Coronavirus Paid Medical Leave and Your Small Business

The Families First Coronavirus Response Act (FFCRA) was signed into law on March 18, 2020 and provides employees with paid sick time. Understand how this impacts your business and employees.

New Withholding Lock-In Letters

New withholding lock-in letters are expected to be approved in the near future. Once these letters are updated, the previous letters will be replaced. Employers and employees should know how to treat these lock-in letters.

Gross Pay and Net Pay: What's the Difference?

Gross pay and net pay are two important terms to understand. Which pay is most important to me, and how do I calculate it? With the PaycheckCity net pay calculators, gross pay calculators, and other resources, calculating paychecks is simpler than ever.

How Your 2020 Take-home Pay Compares to 2019

The start of the new decade presented many significant changes that impact paychecks. Federal, state, and local tax rates across the country typically change with the coming of the new year. Wage bases also change at the Federal and state level.

States Solidify Plans for New W-4s

Ten states had to decide whether to create their own state-specific W-4 or use the dramatically different 2020 Federal W-4 as a result of the Tax Cuts and Jobs Act of 2017. This article details where states landed on this important decision.

IRS Releases New 2020 Form W-4

PaycheckCity Calculators have been updated to include the new and dramatically different 2020 Form W-4 for withholding elections

Upcoming Wage Base Changes for 2020

As we reach the end of 2019, the IRS and individual states are publishing changes to their taxable wage bases for 2020. This article details the 14 states with expected changes.

Paid Family Medical Leave Acts Gain Traction But Implementation Poses Challenges

Paid Family Medical Leave Acts (PFMLA) have gained adoption across the country with eight states having adopted the plans. However, states are seeing deadlines delayed as implementation proves more difficult than legislators initially planned.

Texarkana - The Small Town Bringing Big Problems To Local Wallets

The city of Texarkana is divided by an avenue running through the heart of the city, dividing Arkansas and Texas. What happens to your paycheck depends on which side of the street you work on.

Resident vs. Non-Resident In The Context Of Payroll

When it comes to residency status, there is often a lot of confusion. This is because the laws relating to residency are not the same from state to state. In fact, each state has its own rules for classifying a place of residence.

Details About Withholding Compliance You Should Know

As payroll professionals know, an employee can change his or her W-4 whenever needed, especially when a major life event occurs. If an employee is adjusting withholding, that employee must report the change within 10 days by submitting a new W-4.

What Is A Tax Turtle?

A tax turtle is not a reptilian accountant. Rather, it is a person or small business who carries their business on their back.

Payroll Tax vs. Income Tax

Employers do not contribute to income tax, as they do for payroll tax. Therefore, you could think of payroll tax as a tax of your wages that you share with your employer.

The Top 5 Most Tax-Friendly States

Where can you go to find the most tax-friendly states in the U.S.? The answers might surprise you.

Making Sense of Form 1099

The objective of Form 1099 is to report income from self-employment earnings, interest and dividends, government payments, and more.

What Is the Difference Between Gross and Net Income?

Part of the confusion behind understanding gross and net income is there are different meanings depending on if you are talking about a business or wages. In this article, we dive into both scenarios and provide examples for each.

How to Calculate Severance Pay

Are you entitled to severance pay upon termination of your employment? If so, it's important to have an idea of how to calculate it.

What is the Difference Between a 1099-MISC Contractor and a W-2 Employee?

Looking to hire a new employee for your small business? Maybe you just joined a new company and are deciphering the complicated language of the IRS withholding forms. Regardless of the scenario, do you know the difference between a 1099-MISC and W-2 Employee?

How to Read Your Pay Stub

There is nothing like payday. But do you know where your hard-earned dollars are going? Your pay stub provides the answer.

Important Information Regarding Form 941

Are you an employer? The deadline for Form 941 is April 30, July 31, October 31, and January 31.

How to Pay an Independent Contractor

Employers occasionally need work done for their business that is outside of their normal scope. Instead of having an employee learn a new topic and spend extra time, and therefore money, learning this topic, the company may want to hire an independent contractor.

Payroll Tax History in America 1700s - 2019 (infographic)

The history of Payroll Taxes infographic all the way back to the 1700's.

Win Prizes and Increase Your Paycheck for National Payroll Week

Join the National Payroll Week celebration happening across the country September 2nd through the 6th and visit www.nationalpayrollweek.com to learn more.

The March Madness Jock Tax

Did you know that any athlete, coach, trainer or staff that is being paid to travel, participate in a game or that wins money for participating in a game has to pay what they call a “jock tax” for the state in which they compete?

Five Ways To Deduct Your Moving Expenses

Moving to a new place can be a stressful and overwhelming experience for everybody. Did you know those pricey moving expenses could be tax deductible? Here are five ways to make sure your expenses are eligible for a tax deduction.

Five Easy Ways to Participate in National Payroll Week 2018

National Payroll Week, September 3-7, celebrates the hard-working payroll professionals ensuring employees across America have a reason to smile each payday.

How Do I Change My Withholding Allowances?

The number of allowances you claim has a direct impact on your tax withholding. If you need to change your withholding allowances, how should you go about it?

Celebrate Payroll and Be Recognized

Does your company celebrate its payroll professionals during National Payroll Week (NPW)? If you answered yes, don’t miss your chance to be recognized throughout the NPW campaign, for free!

Teach Financial Basics to Future Generations

Educate young adults this September on important paycheck basics that will help set them up for a future of financial success.

Important Information Regarding The 2018 and 2019 Form W-4

What you need to know about the 2018 and 2019 Form W-4.

Your Chance at an Extra Paycheck, Dream Vacation is One Click Away

Complete the American Payroll Association survey for a chance to win the grand prize.

Save Time and Effort Calculating Paychecks

Saving employee, company and deduction information is now available with PaycheckCity Payroll which will save you heaps of time!

Ten Best Cities to Start a Business

Find yourself motivated to start a business? When it comes to a location, some might be better than others. Check out some of the best cities in America to start a business.

How to Avoid Living Paycheck to Paycheck

Are you living paycheck to paycheck? Here are a few tips on how to end this stressful cycle.

Best Practices for Protecting Your Personal Information Online

Recent data breaches have shown just how vulnerable we all are on the internet. If you follow a few principles when it comes to managing your digital information, you will increase your chances of not having a breach.

How PaycheckCity Payroll Can Help Your Small Business

Starting a company from scratch can be unnerving. You have employees to hire, office space to find, expenses and revenue to keep track of, and the list goes on. Most importantly, you have employees to pay. Enter PaycheckCity Payroll, the latest offering from the same team that brought you PaycheckCity.

How to Use the Hourly Calculator

When you're running a calculation, it can be overwhelming providing the proper information in the correct field. Let's break down how to run a calculation with the hourly calculator!

Rising Debt in America - What This Means for Your Paycheck

A booming economy might be a problem for American consumers that have enjoyed low borrowing costs.

Ten Tricks to Legally Reduce Your 2018 Taxes

Trying to limit your taxes for 2018? Follow these ideas to keep more of your earned money in your pocket.

The 20 Richest Places in America

When you think of wealthy places in America, what comes to mind? Palo Alto, California? New York City?

Tariffs - What Do They Mean for Your Paycheck?

Following a substantial tax cut, Americans may face higher prices for goods imported from China thanks to $60 billion worth of tariffs.

Everything You Need to Know About Your 2018 Paycheck

The payroll industry is rapidly changing. Advancements in technology, a new tax code, and minimum wage will all have an impact on paychecks. Be on the lookout for these paycheck trends in 2018!

The 12 Best Places to Retire

Whether you’re retired, or just daydreaming of the day, you may want to look closely at these locations. A generous tax code, friendly cost of living, and adequate infrastructure can stretch your nest egg much longer, making you happy and more comfortable.

What Taxes Do Olympic Medalists Have to Pay?

Olympic medalists are rewarded handsomely. But how much? And what taxes will they face upon returning home?

2018 Taxes - Paycheck Advances

There seems to be a trend taking place with companies offering their employees the luxury of providing their paycheck in advance of their regular pay date. This recent phenomenon, like many others, has been helped with the growth in financial technology solutions.

New Help Center for PaycheckCity and PaycheckCity Payroll

Looking to get some more knowledge on our calculators? Look no further!

Could You Be Facing a Social Security Tax Hike in 2018?

Federal withholding taxes will likely be decreased for the majority of Americans in 2018, while for some, Social Security tax may increase.

5 Tax Changes in 2018 You Should Know

Curious about the new tax code? We have boiled down five aspects of the tax bill you should know.

2018 Federal Withholding Taxes Go Live on PaycheckCity Calculators

We’re pleased to announce 2018 Federal Withholding tax changes are implemented on paycheckcity.com’s suite of calculators.

PaycheckCity Releases Tax Cuts & Jobs Act Tax Reform Calculator and Interactive Graph

PaycheckCity releases tax reform calculator and interactive graph to demonstrate the impact of the Tax Cuts & Jobs Act on 2018 paychecks.

2018 Taxes - Is a Bonus Considered a Supplemental Wage?

Did you receive a Christmas bonus this year? Wondering where it all went after it was withheld? Let’s dive into the details of how a bonus is taxed.

When Will The 2018 Calculators Be Ready?

PaycheckCity calculators will be updated with 2018 federal tax changes as soon as the IRS releases 2018 withholding tables and systems. Until then, the IRS advises using 2017 tables.

PaycheckCity Releases New Paycheck Experience

PaycheckCity, the paycheck calculator website serving nearly 10 million users each year, released its latest innovation today: PaycheckCity Payroll.

Tax Tips For Uber, Lyft, and Other Car Sharing Drivers

If you are a part of the gig economy, such as a driver for a car sharing service you are most likely considered an independent contractor. While it may seem like you work for Uber or Lyft, you are self-employed.

Most Americans Are Living Paycheck To Paycheck

Are you worried you won’t have enough money when your bills are due? You’re not alone.

Taxes For The Ultra Wealthy

With all the talk of restructuring our tax code from the current administration, the great debate of who feels the brunt of the tax burden has surfaced once again.

National Payroll Week 2017 Recap

It’s hard to believe another National Payroll Week is in the books. The 2017 National Payroll Week campaign was one of the most exciting yet thanks to the support and involvement of members of the American Payroll Association members, official sponsors, payroll and finance professionals, and more.

Easier Tax Filing with These Two Quick Tips

Tax season is right around the corner. Nobody wants to be scrambling last minute to file their returns, hoping all of their T’s are crossed and I’s dotted. Here are two tips that can have a huge impact on your tax filings from 2017 in 2018.

How To Use Federal Withholding Tables

Calculating withholding taxes can be a daunting task. Percentages, annual gross income, tax rates, and filing statuses can take a lot of time and create a lot of frustration. Fortunately, by getting to know some basic terms and tools, your frustration will subside.

IRS Tax Relief For California Wildfire Victims

Residents of Northern California have suffered a horrific month battling relentless wildfires, destroying thousands of homes and businesses and taking the lives of numerous people. Due to the recent catastrophe, the IRS has implemented a new regulation permitting the extension of tax filings until January 31, 2018.

Are Minors Exempt On Form W-4?

Whether it is a temporary summer job or full time employment, minors will need to fill out a Form W-4. The question arises: are minors exempt?

Gross Income Defined

Gross income has a different definition for different situations. For example, when referring to salaries and wages, it refers to one thing, but when discussing business profits it means another.

The Growing Value of NFL Teams

To most Americans, Sunday afternoon means one thing: football. To the select few owners making up the 32 teams in the National Football League, Sunday afternoons are synonymous with money, a lot of money.

IRS Tax Relief For Hurricane Harvey Victims

According to the IRS, victims and businesses in specific Texas counties affected by Hurricane Harvey are now eligible for a tax extension.

How Are Lottery Winnings Taxed?

When it comes to lottery winnings, you might not walk away with as much money as you thought.

When Can I Claim Exempt On My W-4?

Claiming exempt on your W-4 can be tricky business, so let’s clear up the confusion.

New York Family Leave Changes

The state of New York has recently passed legislation requiring almost all private employers to assure Paid Family Leave (PFL) coverage for their employees. The legislation will take affect January 1, 2018.

How Are Commissions Taxed?

Commissions are considered a “supplemental wage” by the Internal Revenue Service and are sometimes taxed differently than regular wages depending on how they are paid out by the employer to the employee.

Five Ways to Spread the National Payroll Week Survey Message

Here's five ways to spread the word of the National Payroll Week survey.

What You Should Know About Summer Jobs

Are you working a temporary or summer job?

Say Hello to Higher Personal Income Tax in Illinois

Illinois has raised its personal income tax rate.

Five Ways to Get Involved With National Payroll Week 2017

Here's how you can get ready for National Payroll Week.

The Pros and Cons of a Four Day Workweek

What if you could replace that “9 to 5” with an “8 to 6” or a similar 10 hour situation, eliminating one day of the traditional workweek?

All The Ways You Can Be Paid

From direct deposit to payroll cards, here are a few ways you can get paid.

Prevent Identity Theft With These Tips

Identity theft does not discriminate. Stay ahead of the game.

The Wow Factor of NBA Salaries

Ready to have your mind blown by some out-of-this-world paychecks?

Want To Save Money? Try These Apps

These apps can save you money.

Practice These Interview Questions To Nail Your Next Interview

These are some of the most common interview questions - practice them today.

What To Expect When Looking At Your First Paycheck

What does a salary pay stub include?

What First Time Payroll Employees Make

First time job seekers: Have you considered a job in payroll?

Your Wages Could Increase Soon

A pay increase my be in your future.

Things You Should Not Be Doing When Broke

Here’s a list of things NOT to do when you’re trying to save money:

What Are the Estate and Inheritance Taxes?

There are two things in life you can’t escape: death and taxes.

What To Do If You Missed The Tax Deadline

Another year, another tax day come and gone. Millions of Americans filed their taxes before or on April 18 this year – but what if you didn’t?

Six Unusual Tax Deductions

Common deductions for tax returns include charitable donations, and various medical expenses. But did you know your swimming pool could get you a tax break?

How To Pay The IRS

Owe money to the IRS? Here's how you can pay.

Eighty-Two Million Americans Have Experienced an Error in Pay

Almost 82 million Americans have experienced an issue when being paid.

What 2017 Graduates Need to Know About Their First Paycheck

A brief guide to recent college grads to help them understand their paychecks. Includes information about how to fill out a W4, how paychecks are calculated, and different types of deductions.

Are Arguments To Avoid Paying Taxes Legitimate?

Each year, the IRS comes out with the “Dirty Dozen” Tax Scams list to help prevent the public from becoming victims of tax-related fraud, scams, and penalties. This year, the IRS is focusing on frivolous arguments and preventing people from being duped into trying to use a frivolous argument to get out of paying taxes.

Medicare, Medicaid - Breaking The Two Down

What's the difference between Medicare and Medicaid?