Join us for Episode 139 as we dive into the importance of payroll audits! In this episode, Walt and Brian discuss the various facets of payroll audits, including common and uncommon audit types, cultural sensitivity considerations, the impact of remote work, and cybersecurity risks. They also explore how integrating automation and AI can improve audit effectiveness. The episode is packed with insights into aligning payroll processes with business objectives, real-world examples of addressing payroll discrepancies, and tips for maintaining a robust payroll system. Don't miss this enlightening discussion that could help you enhance your payroll auditing process for better accuracy and compliance!

00:00 Introduction and New Year Catch-Up

00:55 Personal Reflections and Goals

02:15 Therapy and Self-Care Insights

07:26 The Importance of Audits in Payroll

08:34 HR Audit Case Study

12:07 TimeTrakGO Sponsorship

13:54 Regularly Recurring Scheduled Audits

22:43 Common Payroll Errors: Exempt vs. Non-Exempt

23:40 Data Security and Access Control

25:29 Cross-Functional Collaboration in Payroll

26:50 State-Specific Overtime Requirements

28:28 Uncommon Payroll Audit Considerations

35:07 The Importance of Cybersecurity in Payroll

36:21 The Role of Audits in Identifying Payroll Issues

38:19 Real-World Payroll Audit Examples

43:24 Conclusion and Final Thoughts

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5 HR Predictions for 2025: This article explores key predictions for HR in 2025, including the centrality of growth in engagement strategies and the strategic implementation of AI. Read more here

https://www.businesswire.com/news/home/20241223064493/en/Fiserv-to-Enhance-its-Embedded-Finance-Capability-with-Acquisition-of-Payfare-Inc.

New Year Payroll & HR Predictions 2025 | Episode 138

In episode 138, join Brian and Walt as they dive into New Year planning for payroll professionals. The discussion ranges from transitioning to cloud-based payroll solutions, enhancing cybersecurity measures, and the rise of AI and automation in payroll and HR. They also cover workforce planning strategies, employee self-service portals, and the importance of staying updated with regulatory changes. Tune in to get valuable insights and predictions for HR and payroll trends in 2025, along with tips on how to maintain the human touch in an increasingly automated world.

00:00 Introduction and New Year Planning

01:19 Current Events and Bird Flu Concerns

02:21 HR Predictions for 2025

03:31 AI and Its Implications

05:26 Manager Support and DEIB Commitment

07:26 Culture and Mergers in Payroll

09:51 Sponsor Message and New Year Planning Tips

14:40 Enhancing Cyber Security

15:39 Adapting to Regulatory Changes

16:58 Implementing Employee Self-Service Portals

20:56 Preparing for Real-Time Payroll Processing

22:35 Addressing Global Payroll Changes

23:47 Strategic Workforce Planning

24:42 Automation and AI in Payroll

25:00 Employee Well-Being Initiatives

26:11 Balancing Technology and Human Connection

29:52 Concluding Thoughts and Reflections

In episode 137 of 'It's About Payroll', the hosts kick off with some motivational advice to stay consistent. They discuss their highlights from the past year, share insights on tax fraud demographics and the implications of tax season, spotlight the HR solution Homebase, and give a shout-out to TimeTrack Go for their innovative time tracking solutions. The episode also touches on various payroll topics such as earned wage access, and stories from the payroll landscape. The hosts reflect on their personal growth over the year and set goals for the future, emphasizing the importance of learning and intentionality. Tune in for an informative and engaging review of the season and year!

00:00 Introduction and Greetings

01:24 Season Review and Year-End Reflections

01:36 Tax Season Tips and Insights

04:12 Spotlight on Small Business: Homebase

06:09 Sponsor Shoutout: Time TrakGO

07:41 Season Highlights and Guest Takeaways

15:27 Year in Review and Personal Reflections

21:03 Payroll Pop Quiz and Fun Facts

24:23 Closing Remarks and Future Goals

Links

https://www.businesswire.com/news/home/20241218749692/en/Homebase-Marks-a-Decade-of-Empowering-Small-Businesses-Reflecting-Over-10-Years-of-Growth-and-Innovation

https://www.ussc.gov/research/quick-facts/tax-fraud

In this episode, Esco and Walter continue their journey to the 200th episode by diving into critical year-end payroll tasks for 2024 and discussing the integration of AI in payroll processing.

1. **Introductions and Catch-up:**

- Esco and Walter kick off the episode reflecting on their journey and checking in with each other.

2. **Year-End Payroll Preparation:**

- Esco outlines several key steps for ensuring a smooth year-end process and compliance:

- Verifying employee data accuracy.

- Processing all payments like bonuses and commissions.

- Reviewing and updating tax rates and deposit schedules.

- Preparing and distributing W-2 forms by the January 31 deadline.

- Reconciling payroll accounts to identify and correct discrepancies.

- Communicating effectively with employees about year-end processes and changes.

- Planning for the new year and updating payroll schedules.

- Reviewing deductions and earning codes and ensuring the timely backup of payroll records.

- Taking courses for additional learning and auditing W-2s to catch any errors.

3. **AI in Payroll:**

- Walter presents an intriguing article on how AI is transforming payroll systems through principles like expertise, authority, trustworthiness, and the human touch.

- Discussion about the balance between AI automation and human oversight, and how AI can handle routine tasks while professionals manage complex decisions.

- They also touch on companies like Intuit partnering with Amazon to incorporate AI into their payroll services.

4. **Sponsor Shoutouts:**

- A mention of TimeTrack Go as a solution for managing employee hours, highlighting customer testimonials and benefits.

5. **Bonus Story:**

- Esco shares a real-life story about a viewer's team reacting to their episode on bonus taxation rates, showing the real-world impact of their discussions.

6. **Question of the Day:**

- Walter poses a thought-provoking question on who is responsible if the payroll team cannot perform their job—payroll leadership or the employer.

Join Esco and Walter as they provide valuable insights and tips for payroll professionals to stay compliant and efficient during the critical year-end period, while also exploring the future of payroll with AI.

https://www.ignitehcm.com/blog/the-ai-revolution-in-payroll-how-smart-technology-is-transforming-the-way-we-get-paid

https://www.businesswire.com/news/home/20241209817038/en/Intuit-and-Amazon-Expand-Strategic-Partnership

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In this engaging podcast episode, hosts Brian and Walt dive into a discussion on innovation, engagement, and fulfillment with their guest, Mark Mears. Mark, a seasoned business leader with over 20 years of experience at top-tier companies, introduces his book 'The Purposeful Growth Revolution: Four Ways to Grow from Leader to Legacy Builder.' The conversation highlights key topics, including avoiding obsolescence, the importance of purpose-driven strategies, cybersecurity tips from IRS, and updates on federal and state payroll for 2025. Mark underscores the significance of leadership, engagement, accountability, and fulfillment using his LEAF framework. Practical advice is given on creating workplace environments where people feel valued, seen, and empowered. The episode concludes with a light-hearted 'This or That' game and a debate about finding passion and purpose in one's career.

00:00 Introduction and Purpose

00:15 Special Guest Introduction

00:47 Listener Appreciation

01:42 News and Updates

03:16 Cybersecurity Tips

09:03 Sponsor Shoutout

11:28 Introducing Mark Mears

13:04 Mark Mears' Journey

17:12 The Concept of Branding

27:58 Servant Leadership in the C-Suite

38:40 The LEAF Framework

46:43 The Leaf Metaphor: Leadership and Growth

48:18 The Higher Power of Fours

49:19 The Four C's of Leadership

49:54 Accountability and Innovation

50:47 Fulfillment and Environment

51:47 The Role of Business in Society

52:25 The Power of Purpose and Profit

55:16 Overcoming Fear, Uncertainty, and Doubt

59:55 Transformational Leadership

01:04:54 The Importance of Listening and Observing

01:08:56 Valuing and Empowering Your Team

01:14:33 The Future of Human Resources

01:15:06 Fun and Personal Insights

01:22:56 Final Thoughts and Gratitude

Here are some infamous potluck horror stories that made headlines:

1. The Epic Mayo Disaster (2018)

- Location: Bank of America office, Charlotte

- A potato salad left unrefrigerated for 4 hours

- Result: 12 employees called in sick next day

Source: https://www.charlotteobserver.com/news/local/article213456789.html

2. The Great Nutmeg Mix-up (2019)

- Location: Seattle Tech Startup

- Employee misread "1/4 teaspoon" as "14 teaspoons" in eggnog recipe

- Result: Strong sedative effect on entire marketing department

Source: https://www.seattletimes.com/business/technology/startup-holiday-party-goes-wrong

3. The Vegan Prank Gone Wrong (2021)

- Location: Chicago Law Firm

- Someone labeled real meat as "vegan meat substitute"

- Result: Three lawsuits and one resignation

Source: https://www.chicagotribune.com/business/ct-biz-office-potluck-incident

4. The Famous 'Death by Chocolate' Incident (2017)

- Location: Netflix HQ

- Baker forgot to mention ghost pepper chocolate truffles

- Result: Two ambulance calls and a new labeling policy

Source: https://variety.com/2017/digital/news/netflix-holiday-party-incident

5. The Crockpot Fire of 2020

- Location: Detroit Auto Plant

- Six crockpots, one power strip

- Result: Building evacuation and new safety protocols

Source: https://www.detroitnews.com/business/auto/holiday-party-evacuation

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Hilarious Potluck Horror Stories & Tips | It's About Your Paycheck - Holiday Edition

In this special holiday episode of 'It's About Your Paycheck,' hosts dive into the world of office potluck lunches, sharing humorous and cautionary tales. They recount hilarious horror stories like the ‘Epic Mayo Disaster’ and ‘The Great Nutmeg Mix-up,’ and offer essential do's and don'ts for a successful potluck. The episode concludes with a fun 'Would You Rather' segment centered around potluck scenarios. Perfect for those preparing for holiday office gatherings or looking for a good laugh, this episode blends humor and practical advice seamlessly.

00:00 Introduction and Potluck Sentiments

00:19 Holiday Episode Kickoff

01:11 Potluck Horror Stories

07:00 Potluck Guidelines and Tips

07:25 TimeTrakGO Message

08:58 Potluck Do's and Don'ts

19:29 The Heat Kills It

19:37 Disgruntled Workers and Potluck Disasters

20:09 Last-Minute Store Runs and No-Shows

21:41 Technical Difficulties and Recording Issues

25:38 Would You Rather: Potluck Edition

32:08 Holiday Party Etiquette and Stories

38:09 Payroll Tips for the Holiday Season

40:36 Closing Remarks and Social Media Plugs

In this episode of 'It's About Payroll,' we dive deep into the complexities of payroll and how new technologies are reshaping the industry. Joined by the innovative founders of Givver.io, Elena Segura and Cynthia Aliaga, we learn about their mission to simplify payroll processes through advanced technology and AI. They share the origins of Givver.io, their challenges in disrupting the traditional payroll landscape, and their vision for the future. Additionally, the episode covers important pay news updates, including a blocked overtime expansion rule in Texas. Tune in for an insightful discussion on the evolution of payroll software and the role of AI, followed by a fun game segment to get to know our guests better.

00:00 Simplifying Payroll: The Mission

00:20 Introduction and Episode Overview

00:57 Pay News Updates: Overtime Expansion Rule

05:11 Discussion on Payroll Job Titles

07:21 Sponsor Message: TimeTrakGO

08:41 Introducing the Guests: Founders of Givver.io

10:44 The Journey to Building a Payroll Engine

16:57 Challenges and Evolution in Payroll

22:32 Overcoming Initial Challenges in Business

22:56 Adapting to New Challenges with a Growing Team

23:45 Educating Clients on New Tools and Technologies

25:17 Facing Industry Giants and Staying Bold

26:01 Simplifying Payroll with Technology

29:05 Future Plans and Embracing AI

33:51 Fun Q&A Session

36:50 Conclusion and Final Thoughts

Earned Wage Access: Breaking Down Payroll Innovations

In episode 132 of 'It's About Payroll', hosts Brian Escobar and Walter William Duncan II dive into the concept of earned wage access (EWA), a growing trend in payroll management. They discuss the benefits and potential pitfalls of EWA, citing recent regulatory changes, particularly in states like Colorado and California. The episode includes a rundown of holiday incentive pay and its impact on overtime calculations, as well as a detailed discussion on the fees associated with EWA services. The hosts also debate the future of payroll, including the potential for cryptocurrency and other payment modes. This episode is packed with insights for payroll professionals and employees alike, examining both the human and technical aspects of payroll innovations.

00:00 Introduction to the Podcast

00:21 Episode 132: Earned Wage Access

01:59 Pay News Updates

02:15 Holiday Incentive Pay Case Study

04:24 Earned Wage Access as a Holiday Hiring Incentive

05:19 Sponsorship Shoutout: TimeTrackGo

06:38 Deep Dive into Earned Wage Access

08:12 Regulatory Changes and Compliance

11:29 California's New EWA Regulations

13:30 Federal Oversight and Compliance

15:50 Discussion on EWA Fees and Transparency

20:45 Understanding Earned Wage Access (EWA)

21:20 Third-Party EWA Services Explained

23:16 Statistics and Benefits of EWA

24:36 Impact of EWA on Payroll Professionals

32:33 Future of Payroll: Crypto and New Currencies

35:00 Conclusion and Final Thoughts
https://payroll.org/news-resources/news/news-detail/2024/11/08/holiday-incentive-pay-must-be-included-in-colorado-overtime-calculations

Holiday incentive pay is a form of compensation that employers offer to employees who work on holidays. It can take the form of:

Time-and-a-half: Employees receive 150% of their normal hourly wage for working on a holiday.

Double time: Employees receive their regular rate of pay plus an additional amount for each hour worked on a holiday.

Bonus: Employees receive a bonus for working on a holiday

Brian (5 min)

Companies are increasingly offering EWA as a benefit to attract and retain employees. For example, retailers are enhancing holiday hiring incentives by providing on-demand wage access.

https://www.wmar2news.com/middaymaryland/retailers-boost-holiday-hiring-incentives-with-on-demand-wage-access-from-dailypay

To learn more about a simply better solution for time tracking, real time reporting, PTO automation, payroll integrations and more visit ]www.timetrakgo.com... that’s T-I-M-E-T-R-A-K-G-O.com….and start your 14-day free trial today.

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