Payroll

A new study on the effects of taxes on small and midsized businesses has found that tax compliance is especially challenging for them because they lack the resources or scale to comply with complicated tax laws.

Small businesses generated 30,000 new jobs in October, according to Intuit, but the company found that employees are working fewer hours and earning less money.

SurePayroll found that optimism among small business owners jumped 20 percentage points to 53 percent in October from 33 percent in September, according to the payroll service provider’s latest monthly report.

Private sector employers added 110,000 new jobs to their payrolls in October, mainly in the service sector, according to the monthly employment report from payroll giant ADP.

Cloud financial management and accounting software provider Intacct has signed a sales, marketing and development partnership with Paychex.

Bank of America and Intuit Inc. announced the availability Monday of Intuit Full Service Payroll for Bank of America small business customers, a service that performs employee payroll and payroll tax services.

The Internal Revenue Service has increased the maximum pre-tax contribution limit for 401(k) and 403(b) retirement plans, most 457 plans, and the federal government’s Thrift Savings Plan by $500, from $16,500 to $17,000, as a result of cost-of-living adjustments.

CBIZ reported a further drop-off in small business hiring in September.

SurePayroll found hiring at small businesses has dropped 2.7 percent year to date, while optimism among small business owners has fallen to a record low of 33 percent in September.

The unemployment rate remained stuck at 9.1 percent, the U.S. Bureau of Labor Statistics reported Friday, despite the addition of 103,000 jobs.

The private sector added 91,000 jobs in September, according to the latest national employment report from payroll giant ADP.

Small businesses created 55,000 new jobs in September, while employees worked more hours and made more money, according to figures from Intuit Inc.’s Online Payroll clients.

Buoyed by revenue from the acquisitions of SurePayroll and ePlan Services, payroll and benefits outsourcing concern Paychex posted a 13 percent rise in first-quarter profits, to $149 million for the period ended August 31.

Over the next five years, revenue for the human resources and payroll software industry is expected to increase to $4.0 billion, according to a new study.

Payroll and employer-related services provider CompuPay has partnered with data products concern Pitney Bowes to integrate Pitney Bowes’ proprietary payroll cards into CompuPay’s payroll offerings for the company.

The Internal Revenue Service introduced a new voluntary compliance program Wednesday to convince employers to resolve their past issues with classifying employees as independent contractors.

Accounting and payroll software and service provider CheckMark Inc. has begun offering small business-focused payroll services for free until 2012 for all new payroll clients who sign a 12-month service agreement and have fewer than 50 employees. They must be located in Colorado, California or Texas.

President Obama addressed a joint session of Congress on Thursday evening to present a jobs bill containing an expansion of the payroll tax cut, tax breaks for new hires and salary raises, and other tax reform measures.

Payroll service provider SurePayroll has released an Android version of its payroll software for smart phones and other devices that run Google’s Android software.

The Internal Revenue Service issued advice on Friday to employers who outsource their payroll duties to third-party service providers.