I need a copy of the 941 and State quarterly tax returns. Can you send them?
Since you are with a PEO, your taxes are filed under our tax ID number. The best report to pull for this is the Client Allocation Report using the “TAXES” allocation format option. This will provide all ER tax information. This report is available to you in PrestigePRO. It contains all the same information as the 941 would. Contact your Payroll Specialist if you are unsure how to run this report or need assistance.
My employees are missing on my timesheet. Where did they go?
If you are submitting payroll and notice several of your employees are missing on your timesheet, do not fear! This is a special feature PrestigePRO provides to help you focus on who remains to be edited for the pay period. Simply click on the green bar graph, which is located on the bottom right of your timesheet under Payroll Statistics. Once you do so, all employees will come back to view.
What is the difference between a telecommuter and a work state/home state employee?
There are many different ways a remote employee can be labeled in our system. Compliance laws help determine if they are telecommuting to the office or working solely out of their home state. If you have any questions about this for one of your employees, please get in touch with your Payroll Specialist or HRBP, and we can help you determine if your employee is set up correctly. The work location will determine how the employee will be taxed.
I need to pay an employee a bonus. How do I enter this?
If your timesheet does not have a column set up for you, we can adjust it to include a section for Bonuses. Remember that, depending on the amount in your employee(s) bonus, you may want it to be categorized as supplemental. Supplemental bonuses differ from regular bonuses as it is taxed at the supplemental flat tax rates. A regular bonus is combined with your employee’s wages and is taxed based on the employee’s W4 elections. The pay codes are the following: “BONUS1” for regular bonuses and “BONUSS1” for Supplemental bonuses. Your Payroll Specialist can assist you if you are unsure which to use or how to enter.
Is there a report that breaks down the costs per payroll and per employee?
There are several reports that PrestigePRO offers to all our clients. Here is a brief overview of the different types that you can utilize:
- CLIENT ALLOCATION REPORT – This is a breakdown of employer costs per employee, which aligns exactly with your invoices. It can be run per payroll number, or you can run for specific pay periods.
- INVOICES – This gives you an interactive view of every invoice ever produced from payroll. You can click on specific line items for more details about the charge.
- PAYROLL REGISTER REPORT – This is a breakdown of every employee voucher. It can be run per payroll, or you can run for specific pay periods.
- DEDUCTION REGISTER REPORT – This report provides a breakdown of all deductions, including 401K and Benefits, tied to either a specific payroll or for a specified time frame.
All of the above can be found by typing the report name in the search bar at the top of your PrestigePRO screen. You can also click on the action menu to add to your favorites once you open the reports.
How can I add or change my direct deposit?
Due to our security measures, employees need to make any changes to their direct deposit accounts themselves. This can be done by logging into the portal and clicking on “Pay” in the left menu, followed by “Direct Deposit” and “Add or Change Account.” If you are removing an old account, we recommend deleting the inactive account first. Once a new account is entered, it must be verified by our bank. This process can take up to 5 business days. We will notify you via email if there are any issues or if we receive a rejection. There is a guide that details the process for you.
(Note: If you want your entire net payment to be direct deposit, the deposit method must be set to “Remainder.” When using “Fixed” or “Percent,” the “Remainder” method must be selected on one account. If the Remainder is unused, any balance will generate a Paper check.)
Direct deposit adjustments can also be made using the PrestigeGO mobile app.
When will my W-2 be ready or mailed out?
All paper W-2 forms will be postmarked and mailed out by January 31st of the following year. Employees can elect to receive their W-2’s directly on the PrestigePRO employee portal. Electronic W-2s will be available faster and avoid the need to rely on regular mail. Enrolling to receive Electronic W-2’s rolls over from year to year, annual enrollment is not required.
Why does Box 1 on my W-2 not match my year to date gross wages on my final paystub?
Understanding the difference between a final pay stub and Form W‑2 is important. When employees receive their W‑2, they might notice the earnings on their last paystub are different from the reported earnings on their W‑2.
Typically, this is attributed to one of three different scenarios: Your employer offers health insurance that is a pre-tax deduction, participation in a retirement plan or non-taxable items (reimbursements).
Example: Jane’s gross wages (paystub) are $30,000, but during the year she contributed $3,000 to a pre‑tax health insurance deduction. Jane’s taxable Form W‑2 wages (Box 1) are 27,000. (30,000 – 3,000 = 27,000)
What are the differences between Regular and Supplemental payments?
- Regular wages are taxed based on marital status and the number of withholding allowances (Federal and State, where applicable). Supplemental wages are taxed 22% Federally (37% over $1 million).
- Many States tax supplemental wages using the percentage method. New York, for example, has a supplemental tax rate of 9.62%
Why do I see state taxes for a state I do not live in?
There are many different ways a remote employee can be labeled as such in our system. Compliance laws help determine if you are telecommuting to the office or working solely out of your home state. If you have any concerns about this, please reach out to your payroll specialist, who can provide you with specific information. You can find your PrestigePEO Team, including their specific contact information, via the Employee Portal or your PrestigeGO mobile app if you are unsure who to contact.
I just started working with PrestigePEO but have met my FICA (SS) limit. Do I still have to pay?
Yes, every new employer is obligated to collect these taxes, meaning this resets with each new employer.