Federal Insurance Contributions Act is the combined taxes for Social Security and Medicare payroll taxes. The payroll taxes are frequently referred to as FICA taxes.
The Federal Unemployment Tax Act (FUTA) is a federal law. It requires employers to pay a certain percentage on their employee's wages (up to a maximum wage limit) as a payroll tax to help fund unemployment compensation benefits for separated employees.
Reconciling federal payroll taxes (federal income tax, employee and employer share of social security and Medicare taxes) for the quarter.
State Unemployment Tax Act (SUTA) or State Unemployment Insurance (SUI) is an employer-paid insurance program that helps workers who are unemployed through no fault of their own. It provides temporary financial help to qualified individuals, based on their previous earnings, while they are looking for other work. Employer taxes and reimbursements support the Unemployment Trust Fund.
The form that an employer must provide to each employee and the Social Security Administration at the end of the year. The W-2 form reports an employee's annual wages and the amount of taxes withheld from his or her paycheck.
The form that an employer must provided to Social Security Administration at the end of the year. The form W-3 contains totals of the amounts reported on the employee's W-2 forms, acting as a “reconciliation” of those forms.
Form 940 reconciles your annual Federal Unemployment Tax Act (FUTA). The FUTA tax applies to the first $7,000 paid to each employee during a calendar year after subtracting any exempt payments.
“I much prefer the small-business feel here at BBCS. We can react quickly to customer requests without going through all the bureaucracy I experienced other places.”
In addition to manufacturing, Kyle also has experience in direct sales. “That training helps me to relate and communicate to all types of people. I learned how to discover a customer’s needs and find appropriate solutions.” That is something he still does every day, now at BBCS. “I like the interaction with customers. They appreciate what we do because we make their days easier.”
Kyle started at BBCS in 2005 doing packaging and deliveries. He then progressed to entering clients reported time and data entry. His responsibilities steadily increased and he now does payroll processing, customer implementation and because he is very tech-savvy, also handles much of their in-house IT work. “I enjoy keeping up with technology and the latest gadgets. Plus I like finding better ways to do things.” Kyle even sometimes provides remote IT support to clients when they get stuck. Kyle helped institute the advanced digital document management system BBCS uses. Everything BBCS receives from clients, government agencies and third parties is scanned and stored for easy retrieval. This digital paper trail is invaluable, for instance, in proving that the government misapplied a payment.
Payroll has turned out to be the right fit for Kyle. “I have a real knack for numbers. Plus I enjoy the every day challenges and figuring out ways to streamline processes and improve things. There are always some surprises in a day.” He prides himself on providing accurate and timely payroll and being very flexible to accommodate clients special needs. To further his training, Kyle returned to college. He is currently working towards Associate degrees in both Accounting and Business Administration at Ivy Tech.
Outside of work, Kyle enjoys golf, cooking… and college. “Now that I’m actually using what I’m learning, it really means something to me.” Kyle lives in Lafayette with his wife, son and two wiener dogs.
Micaela joined BBCS in February of 2015 and earned her CPP (Certified Payroll Professional) designation in 2017 from the American Payroll Association. Her duties include resolving payroll discrepancies by collecting and analyzing information, providing payroll information to clients by answering questions and requests, assisting in payment of payroll taxes, training the new team members and clients, and many other daily or weekly tasks to help make things easier for our clients.
Originally from Boone County, Micaela came from a small town and a small school. “I feel that you really get to know people. Small town, small school, small business means that it is more personal.” She gained experience in bookkeeping with a small business and management and customer service at a small ice cream establishment while working on her degree. After graduating in 2012 from Manchester College she acquired a job at a large retailer quickly moving up the ladder from customer service to a Human Resources position before joining BBCS.
Micaela and her husband Casey live just outside of Lafayette with their 3 dogs: a yorkie mix, Bandit; mutt, Dozer; and husky, Sully.
Pam Bol started with Candoor in February 2019 as a Payroll Specialist. She brings with her 15 years of payroll experience, both as a Specialist and as a Payroll Client. She enjoys problem solving and seeing the clients pleased with the service she and her co-workers provide.
Pam has a Bachelors degree in Human Resource Management and an Associates degree in Business Management. She feels that the job experience and education she has in these areas helps her better relate and serve the clients and their needs.
Prior to Candoor, Pam worked for 5 years at a local manufacturer in the Human Resource Department where she was responsible for employment and Training/Orientation activities. She was also the Administrator for all Health Benefits and 401k Benefits, plus solved any issues that came up along the way. Having this background really helps in understanding the overall aspects of payroll.
Pam has been married for over 25 years and has three children and enjoys quilting, crafting, and dabbling in stained glass.
The origins of BBCS’s success go back over 30 years ago, when Linda began working in the accounting department of a local law firm.
In 1997, Linda and her husband decided to dive deep into the world of full-time payroll, putting in many years of long hours. “I had done payroll before, but it had gotten, and continues to get, more and more complex.” To get ramped up, Linda became a Certified Payroll Professional (CPP). “I enjoy this forever-changing industry. The challenge is to keep ahead and become more efficient. We’ve invested a lot of energy and resources to develop procedures, people and get good technology – and it’s paid off.” Because BBCS invested in specialized payroll software, they can handle nearly any type of payroll, specializing in working with the small business owner.
Linda’s primary role at BBCS is handling tax compliance. She ensures the timely and accurate submission of all necessary reports and tax deposits for her clients. She also takes care of resolving any issues that come up. “I like making my clients lives easier, and removing these tax compliance headaches from them, is a great way to do it.”
In 2007, BBCS moved into their current location on Veteran Memorial Parkway in the south end of Lafayette, IN. Linda is a member of the national American Payroll Association and the Lafayette APA chapter where she has served as president and vice president. She also belongs to Greater Lafayette Chamber of Commerce, Association of Woman Business Owners, Lafayette Daybreak Rotary and the Better Business Bureau.
Linda poured so much time into building her business that it didn’t leave much room for hobbies; however today she enjoys spending time with family, quilting and reading. Linda and her husband, Glenn, live in Lafayette, just a couple minutes from the office.