Valor Payroll Solutions LLC

Managing employees should not be a headache.⁠ ⁠ From paperless onboarding to automated timekeeping, the right tools can save you time and keep everything running smoothly. With integrated systems and employee self-service, your team gets what they need without extra admin work on your plate.⁠ ⁠ At Valor Payroll Solutions, we offer all of this to help you streamline employee management and focus on growing your business.⁠ ⁠ Ready to simplify? Let’s chat.⁠ ⁠ #PayrollSolutions #SmallBusinessSupport #TulsaOK #OklahomaBusinesses

An employee’s name change might seem simple, but for payroll, it’s a process that needs to be done right. From legal documentation to updating tax forms, benefits, and direct deposits, missing a step can lead to errors and compliance issues.⁠ ⁠ Read the full guide now! 👉 https://lnkd.in/enF9PiFf ⁠ In our latest blog, we break it all down with a step-by-step guide to ensure seamless updates, keeping your records accurate and your payroll stress-free. ⁠ ⁠ #PayrollUpdates #HR #SmallBusiness #Compliance #TulsaOK

"How do I pay myself?" It is one of the biggest questions small business owners ask.⁠ If you are a sole proprietor, you take owner’s draws. Simple.⁠ ⁠ If you run an S-Corp, you need to pay yourself a reasonable W2 salary since the IRS monitors this closely. The average salary is projected to be $60,000 in 2025, and you can also take distributions. Get it wrong and penalties can add up fast.⁠ ⁠ What is your payroll strategy as a business owner? Share in the comments.⁠ ⁠ #SmallBusiness #PayrollSolutions #BusinessOwnerTips

🚨 BOI Filing Update for Small Business Owners! 🚨⁠ ⁠ The March 21, 2025 deadline is approaching, but here’s the latest—the U.S. Treasury announced they won’t be enforcing penalties (for now!).⁠ ⁠ So if you haven’t filed your BOI report yet, you’re safe for now… but don’t tune out completely! There’s still an ongoing fight to overturn this requirement, and things could change.⁠ ⁠ ⚠️ Stay informed & make sure you're up to date on the latest compliance rules!⁠ ⁠ 💬 Have questions? Drop them below—we’re here to help!⁠ 🔔 Follow @ValorPayroll for expert payroll & compliance tips.⁠ ⁠ .⁠ .⁠ .⁠ #BOIReporting #SmallBusinessCompliance #BusinessOwners #PayrollSolutions #TulsaOK #OklahomaBusinesses #TaxCompliance #EntrepreneurTips #SmallBusinessTips #BusinessRegulations

Great news for Oklahoma workers. The Oklahoma DOL recovered $1,145,704.43 in unpaid wages in 2023, putting that money back in the pockets of 404 employees. From payroll mix-ups to bonus disputes, including one exec who scored $160,000, it is clear that fair pay matters.⁠ ⁠ While the 2024 numbers have not been released yet, the U.S. Department of Labor's Wage and Hour Division has already recovered over $202 million in back wages for nearly 152,000 workers nationwide. It is a reminder that payroll compliance is crucial.⁠ ⁠ Small business owners, are you staying on top of your payroll? Have a payroll success story or a lesson learned the hard way? Drop it in the comments!⁠ ⁠ #FairPayMatters #OklahomaBusinesses #SuccessStories

Mistakes on W-2s happen, but fixing them is crucial to avoid tax issues for both employers and employees. That’s where the W-2C form comes in.⁠ ⁠ Whether it’s a typo in an employee’s name, incorrect wages, or a misreported Social Security number, the W-2C helps correct those errors.⁠ ⁠ Not sure when or how to file one? ⁉️⁠ ⁠ Our latest blog post breaks it all down, from common mistakes that require a W-2C to the steps you need to take to file it properly.⁠ ⁠ Read the full post now and make sure your payroll records are error-free. https://lnkd.in/gUDY6w_W ⁠ #PayrollCompliance #W2C #SmallBizTaxes #TaxFiling

W-2 or 1099? It’s one of the most common struggles small business owners face. If you are unsure whether you are classifying and paying your workers correctly, we can help.⁠ ⁠ We take the time to understand what type of work they do and guide you on whether they should be W-2 employees or 1099 contractors. And if a conversion to W-2 is needed, we are here to support you through the process.⁠ ⁠ Let’s make sure you are set up correctly. Reach out today!⁠ ⁠ #PayrollHelp #W2vs1099 #SmallBizSupport #PayrollMadeEasy

What’s FUTA tax? 🤔⁠ ⁠ It is the Federal Unemployment Tax, a payroll tax that employers pay to fund unemployment benefits. Employees do not pay this tax.⁠ ⁠ It applies to the first $7,000 of each employee’s wages at a rate of six percent. If you pay state unemployment taxes on time, you get a credit that reduces it to just 0.6 percent. Miss the deadline and the full six percent applies.⁠ ⁠ Since FUTA is an employer expense, it works differently from payroll taxes like Social Security and Medicare, which are deducted from wages. To stay compliant, file Form 940 by January 31.⁠ ⁠ Need help with payroll taxes? We have your back.⁠ ⁠ #PayrollTaxes #SmallBizCompliance #TaxPrep

Why do some employees owe taxes at the end of the year? 🤔💸⁠ ⁠ At Valor Payroll Solutions, we’ve seen it happen: you’re expecting a refund, but instead, you get a tax bill. Don’t worry, you’re not alone! Here’s why this might occur and how payroll can help:⁠ ⁠ ✅ Insufficient Withholding⁠ ⁠ If too little tax is withheld from your paycheck, you could owe the IRS come tax season.⁠ ⁠ ✅ Multiple Jobs or Side Gigs⁠ ⁠ Extra income sounds great, but it can bump you into a higher tax bracket, leaving you with an unexpected bill.⁠ ⁠ ✅ W-4 Missteps⁠ ⁠ How you complete your W-4 matters! Claiming 'exempt' or too many allowances might mean not enough tax is withheld.⁠ ⁠ ✅ Bonuses or Commissions⁠ ⁠ These often get taxed at a flat rate, which may not align with your final tax liability.⁠ ⁠ 💡 The Fix? A quick W-4 review with your employer—paired with smart payroll planning—can keep surprises at bay next year!⁠ ⁠ Have you ever been caught off guard by a tax bill? Let us know in the comments! 👇 ⁠ ⁠ At Valor Payroll Solutions, we’re here to help you and your business stay ahead.⁠ ⁠ #PayrollSolutions #TaxTips #W4Basics #SmallBusinessSupport #ValorPayroll

Thinking of offering employee loans?⁠ ⁠ It can be a great benefit—but there are legal rules, tax implications, and best practices to consider. Swipe for key takeaways, then read the full blog for all the details! ↩️⁠ ⁠ https://lnkd.in/eAEkSWyY⁠ ⁠ #employeeloans #emergencyfund #financialgoals #smallbusinesstips