Blog posts about
employee pay

It can be tricky to determine whether to classify your employees as exempt vs nonexempt. Good thing we’re here to help.  Exempt vs. Nonexempt: Exempt means that an employee doesn’t receive overtime pay regardless of hours worked. Nonexempt means that an employee must receive overtime pay (typically at a rate of time and a half) […]

When a week of snow plows across the United States, it leaves a few important questions. Is travel to the workplace safe? Who absolutely needs to be there? And which employees will get paid? How do I prepare for inclement weather days? Having an inclement-weather policy answers all the questions above in advance for you […]

Plan your company’s financial strategy for 2026! To help you with your company’s budget, here’s an overview of some notable upcoming financial changes. Download your cheat sheet here: Download: 2026 Tax, FSA, and Retirement Updates   2026 Tax, FSA, and Retirement Updates 2026 2025 Taxes Social Security Wage Base $184,500 $176,100 FICA – Social Security […]

State Minimum Wage Increases Several local and state minimum wage rates will increase on January 1, 2025. Below is a summary of these changes and guidelines to help you comply with your minimum wage requirements. Some states adjust their wages annually for inflation, and some changes occur mid-year. Nextep will update accordingly as announcements are […]

Plan your company’s financial strategy for 2025! To help you with your company’s budget, here’s an overview of some notable upcoming financial changes. Download your cheat sheet here: Download: 2025 Tax, FSA, and Retirement Updates   2025 Tax, FSA, and Retirement Updates   2025 2024 Taxes Social Security Wage Base $176,100 $168,600 FICA – Social […]

Pay Transparency Laws Close in on the Pay Gap Massachusetts has recently joined the growing number of states implementing pay transparency measures. The new law, signed by Governor Healey, imposes several significant obligations on employers. Massachusetts aims to promote wage equity, reduce pay disparities, and empower workers to make informed career decisions. The legislation imposes […]

At least 22 states and nearly 40 local jurisdictions will increase their minimum wage rates on January 1, 2024. Below is a summary of these changes and guidelines to help you comply with your minimum wage requirements. As a reminder, in cases where federal, state, or local regulations differ, the employer must use the law […]

Get ready to chart your company’s financial course for 2024! To assist in gearing up your company’s budget, here’s a breakdown of some key upcoming financial changes. 2024 Tax, FSA, and Retirement Updates   2024 2023 TAXES Social Security Wage Base $168,600 $160,200 FICA – Social Security (OASDI) 6.2%, up to wage base 6.2%, up […]

Time to mark your calendars! Here are key bank and Nextep holiday closure dates for 2024.  If Nextep is closed on a day that banks are usually open, such as the day after Thanksgiving, no need to stress! If banks are open, we can still process your payroll for that day. However, if banks are […]

Spoiler Alert: Yes We frequently see a question posed to HR pros: “Do I have to pay my employee if…?” We’ll go ahead and give you a major hint at the outset. In many of the scenarios we see, the answer is yes, you do have to pay your employee. Here are a few scenarios. […]