It's About Payroll

Evolution of Payroll: Insights with Christine Stolpe - Episode 116

In Episode 116 of 'It's About Payroll,' hosts Brian Escobar and Walter William Duncan II welcome special guest Christine Stolpe. Dive into the transformative world of payroll as Christine shares her journey from HR to payroll, the creation of her comprehensive Payroll Encyclopedia, and insights into the future of payroll technology. Learn about the latest industry innovations, the essential blend of human resources and IT in payroll, and her vision for a more streamlined, secure payroll process. Don't miss this enlightening discussion filled with practical advice and forward-thinking strategies. Tune in now!

00:00 Introduction to the Podcast

00:37 Catch-Up and Time Flying Discussion

01:18 Pay News Update: Veritas Prime Americas

03:46 Innovations in Payroll Technology

07:43 Sponsorship Message from TimeTrack Go

09:38 Introducing Christine Stolpe

11:15 Christine's Journey into Payroll

17:02 Christine's Payroll Encyclopedia

25:48 Community and Knowledge Sharing

29:33 Payroll Community Insights

30:19 Personal Projects and Hobbies

31:09 Exploring Interests Beyond Payroll

32:14 The Future of Payroll

33:12 Learning from Payroll Mistakes

40:07 Fun Game: This or That

45:43 Safe Talk: Do Payroll Pros Need People Skills?

50:53 Final Thoughts and Advice

Understanding Payroll Overpayments with Brittany Furr | It's About Payroll Ep. 115

Join hosts Brian Escobar and Walter William Duncan II in Episode 115 of 'It's About Payroll' as they welcome guest Brittany Furr, a seasoned payroll pro and a creative mind behind a unique payroll mystery game. This episode delves into key topics such as the Payroll Profession Confidence Index, a significant UK Ministry of Defense data breach, and the critical need for better payroll education. Brittany shares her innovative approach to payroll, including the development of a game that brings fun and creativity to the field. Stay tuned for engaging discussions, insightful statistics, and practical advice on navigating payroll challenges.

00:00 Introduction and Greetings

02:02 Pay News Updates

04:31 Cybersecurity in Payroll

05:22 Payroll Profession Confidence Index

10:15 Sponsorship Message

12:02 Introducing Brittany Furr

13:16 Brittany's Payroll Journey

16:10 The Payroll Mystery Game

21:10 Payroll Education and Employee Awareness

28:24 Payroll Universe and Future Innovations

33:09 Navigating Corporate Politics as a Woman of Color

34:12 Personal Challenges and Silver Linings

34:42 Advice for Women of Color in Corporate Settings

35:10 Appreciation and Personal Insights

35:54 Fun Segment: This or That

39:42 Payroll Emergency Game

45:56 Safe Talk: Creativity in Payroll

54:12 Final Thoughts and Farewell

Links

https://3sixtyinsights.com/2024-payroll-profession-confidence-index/ -- Daisy Agile Solution Columbus, Georgia www.daisyagile.com Money Matter Udemy Course

https://store.steampowered.com/

https://www.tabletopsimulator.com/

 | Pay News Updates!  Walter https://federalnewsnetwork.com/veterans-affairs/2024/05/va-rule-change-could-mean-health-care-benefits-for-a-million-more-veterans/ The Department of Veterans Affairs has made a major change in the rules for veterans who left military service with other-than honorable discharges. It opens the possibility of healthcare coverage for those who may have been discharged for willful misconduct or even moral turpitude. For detail, the Federal Drive with Tom Temin spoke with Anthony Kuhn, managing partner of the law firm Tully Rinckey Brian NY Gov tries to increase NYC mobility Tax after congestion pricing was rejected. https://www.politico.com/news/2024/06/06/payroll-tax-hike-hochul-rejected-00162136 Effective July 1, 2024 a final rule that expands overtime protections for millions of the nation’s lower-paid salaried workers by increasing the salary thresholds required to exempt a salaried bona fide executive, administrative or professional employee from federal overtime pay requirements. The salary threshold will increase to the equivalent of an annual salary of $43,888 and increase to $58,656 on Jan. 1, 2025. This means that millions of additional workers will be required to track time and attendance. Whether they are new to time tracking or looking to make a change, TimeTrakGO provides a simply better solution that can have you up and running in a matter of minutes. If you follow the link in our episode notes, you also get your first month free. Don't miss out! To take advantage of this special offer, use the link in the show notes to start your 14-day trial in the month of June to qualify for your first month free. GO to www.timetrakGO.com that’s T-I-M-E-T-R-A-K-G-O .com or call 888-321-9922. Let’s GO!  Link: https://www.timetrakgo.com/signmeup?utm_source=SMB24&utm_medium=IAP&utm_id=SBM24 

.https://www.businesswire.com/news/home/20240529393008/en/Payroll-Sector-Benefiting-from-Technology-Led-Progression-Reveals-Annual-CloudPay-Payroll-Efficient-Index-Report

https://www.timetrakgo.com/signmeup?utm_source=SMB24&utm_medium=IAP&utm_id=SBM24

https://constructioncitizen.com/blog/shell-company-operators-sentenced-multi-million-dollar-wire-and-payroll-fraud-scheme/2311091

Chief United States District Court Judge Timothy J. Corrigan sentenced two Honduran nationals, Omar Wilkin Santos-Calix and Oscar Rene Santos-Santos, to 24 months in federal prison for wire and tax fraud conspiracies. Santos-Calix must pay $3,245,161 in IRS restitution and $897,870 in a money judgment, while Santos-Santos owes $1,773,429 in IRS restitution and $490,634 in a money judgment.

**Key Points:**- Santos-Calix and Santos-Santos established a fake construction company to perpetrate their scheme.- They acquired minimal workers' compensation insurance and "rented" it to work crews.- The duo cashed payroll checks issued by contractors, deducting a 6% fee before distributing cash to the crews, totaling approximately $19 million.- Neither the shell companies nor contractors reported wages to authorities or paid payroll taxes, resulting in a $5,018,590 tax liability.- The scheme evaded higher insurance costs by purchasing policies for $21,000 instead of the required $2.5 million.- Investigation and prosecution were conducted by Homeland Security Investigations (HSI), IRS-CI, and the Florida Department of Financial Services.

**Prevention Measures:**- Implement thorough background checks on individuals involved in establishing businesses and issuing workers' compensation insurance.- Conduct regular audits and inspections of businesses' financial records and tax filings to identify fraudulent activities.- Enforce tax laws and regulations more strictly, with collaboration between government agencies and law enforcement to deter similar fraudulent activities in the future.

Overcoming Tax Anxiety: Tips & Strategies | Safe Talk Episode 12

In Episode 12 of Safe Talk, hosts dive deep into the widespread issue of tax anxiety as tax season approaches. They discuss the fear and stress related to tax complexity, mistakes, financial impact, time consumption, and privacy concerns. The episode highlights real-life challenges faced by individuals, especially self-employed and those with multiple income sources. With advice on early planning, budgeting, utilizing technology, and seeking professional guidance, the hosts aim to help listeners combat their tax-related anxieties. Sponsored by TimeTrak GO, this episode provides a safe space to deliberate and find solutions for tax preparation stress.

00:00 Introduction to Tax Anxiety

00:40 Welcome to Safe Talk Episode 12

00:59 Discussing Tax Brackets and Inflation

02:24 Why We Get Anxious About Taxes

02:31 Sponsor Message: TimeTrak GO

03:35 Complexity and Fear of Mistakes

04:09 Financial Impact and Self-Employment

05:57 Privacy and Security Concerns

08:19 Past Experiences with Tax Preparers

11:57 Tips to Combat Tax Anxiety

15:49 The Value of Professional Tax Help

17:33 Embracing Technology for Tax Filing

19:36 Budgeting for Tax Liabilities

21:13 Maximizing Deductions and Credits

22:10 Practicing Self-Care During Tax Season

23:12 Communicating with Employers About Taxes

25:39 Key Takeaways and Final Thoughts

31:08 Upcoming Topics and Season Preview

32:06 Closing Remarks and Community Engagement

We're joined by Anthony Straham as we discuss what he would like to see more of as an employee. 

Mastering Customer Service in Payroll: Insights and Strategies

This podcast episode features hosts Brian Escobar and Walter William Duncan II discussing the importance of customer service in payroll and HR. The episode focuses on identifying and rectifying bad examples of customer service, emphasizing communication breakdowns, inefficient issue resolution, lack of accessibility, inadequate training, and ignoring employee feedback as core areas of concern. The hosts share personal anecdotes and stress the necessity of a customer-centric approach, continuous training for payroll professionals, proactive feedback gathering, and prioritizing the employee experience. Additionally, they introduce TimeTrack Go, a time clock software solution, highlighting its compatibility with QuickBooks and its potential to streamline payroll processes. The conversation concludes with reflections on the impact of poor customer service on emotions like frustration, anger, disappointment, stress, and helplessness, advocating for empathy, effective communication, and transparency in payroll operations.

00:00 Welcome to the Payroll Podcast!
00:44 Diving Into Customer Service Conversations
01:15 A Floridian's Cold Weather Tales
03:12 Exploring Bad Customer Service in Payroll
05:35 Improving Payroll Customer Service: Strategies and Solutions
15:35 The Emotional Impact of Poor Customer Service
17:05 Navigating Customer Service Challenges
17:47 The High Stakes of Payroll Services
19:01 Dealing with Irate Customers: Strategies and Stories
20:49 The Emotional Impact of Poor Customer Service
24:59 Leadership and Customer Service: A Manager's Perspective
27:58 Closing Thoughts on Customer Service Excellence

Empathy in Payroll: A Conversation with Amy Travis

This episode of 'It's About Payroll', hosted by Brian Escobar and Walter William Duncan II, delves into the significance of empathy in the payroll profession. The hosts share their personal journeys and growth towards understanding and advocating for empathy in the workplace. Special guest, Amy Travis, CPP and soon-to-be president of the Greater Atlantic Payroll Association, shares her unique entry into the payroll field, starting from buttering garlic bread to ascending into leadership. She emphasizes the importance of empathy, especially in leadership positions, to foster a supportive and efficient team environment that enhances both employee satisfaction and performance. The episode also covers potential dangers of modern technologies like AI and the necessity of continuous vigilance against payroll fraud. Additionally, a discussion on the impact of company culture on payroll departments, whether they fall under finance or HR, is explored, highlighting the evolving focus on the human element in HR. Amy Travis' story of perseverance and her emphasis on the importance of empathy in payroll make for an enlightening conversation.

00:00 Introduction to the Payroll Podcast

00:30 Celebrating Milestones and Personal Growth

01:34 Special Guest Announcement: Amy Travis

02:07 Deep Dive into Empathy and Personal Evolution

02:57 Payroll News Segment: Tackling Payroll Fraud

11:49 Exploring Technological Solutions to Prevent Fraud

19:10 Guest Spotlight: Amy Travis's Payroll Journey

22:15 Choosing a Career Path: Payroll or Dental Assistant?

22:44 The Professionalism and Planning Behind the Scenes

23:56 Empathy in Payroll: A Deep Dive

25:49 Building an Empathetic Team: Strategies and Successes

26:46 The Ripple Effect of Empathy in the Workplace

27:33 The Importance of Employee Experience in Today's Workforce

29:05 Navigating the Current Job Market: Insights and Advice

39:25 Exploring the Role of Empathy in Payroll Careers

43:39 Why We Love Payroll: A Personal Insight

45:01 Closing Remarks and Community Engagement

Link: https://www.timetrakgo.com/signmeup?utm_source=SMB24&utm_medium=IAP&utm_id=SBM24

WALT 

https://tax.thomsonreuters.com/news/payroll-fraud-in-the-news-types-of-fraud-and-how-to-prevent-it/#:~:text=A%20recent%20report%20released%20by,loss%20of%20$2%2C800%20per%20month

Key Points from the Article:

1. **Prevalence of Payroll Fraud**: Association of Certified Fraud Examiners (ACFE) revealed that Payroll fraud makes up 15% of all occupational fraud schemes in the United States and Canada. It often goes undetected for an average of 18 months, resulting in an average loss of $2,800 per month.

2. **Industries Affected**: While no industry is immune, payroll fraud is most common in the construction industry and in government and public administration.

3. **Common Types of Payroll Fraud**:

   - Payroll diversion through phishing tactics.

   - Ghost employees, where non-existent employees receive wages accessed by fraudsters.

   - Overpayment schemes, such as inflating overtime payments.

   - Embezzling withholding, involving pocketing legitimate withholdings from wages.

   - Expense reimbursement fraud, including padding expenses or submitting fictitious expenses.

4. **Prevention Strategies**:

   - Educating employees about phishing threats.

   - Implementing two-factor authentication.

   - Segregation of duties in employee onboarding and termination.

   - Running exception reports to detect unusual patterns.

   - Requiring original receipts for expense reimbursement.

5. **Future of Technology Solutions**:

   - The use of AI and machine learning for fraud detection is expected to nearly triple over the next two years.

   - Despite technological advancements, vigilance remains crucial as technology can both enable and prevent fraud.

6. **Ongoing Vigilance**: Employers and accounting professionals should remain vigilant even with technological solutions, as new tools for perpetuating fraud can emerge alongside advancements in technology.

BRIAN

Pay News Updates! 

https://www.businesswire.com/news/home/20240423366537/en/Frost-Bank-Improves-Customer-Experience-with-Atomic-Direct-Deposit-Switch

Direct deposit switching (DDS) is a mobile banking feature that allows customers to send their direct deposits to a new bank account or debit card without leaving their banking app.

Earned Wage Access 

In this episode of the It's About Payroll podcast, hosts Brian and Walter delve deep into the topic of Earned Wage Access (EWA) with special guests Chris and Aaron. The conversation explores the stress finances can bring to individuals, the flexibility EWA offers, and its impact on employee wellness and engagement. Through personal stories and professional insights, the episode sheds light on the significance of EWA in today's workforce, its implementation, and the broader conversation around financial wellness.

 Financial Stress and Employee Wellness

 Introduction to Earned Wage Access

 The Impact of EWA on Employee Engagement

 Addressing Financial Wellness

 The Future of Earned Wage Access

IAP EP 109 - Bart: Revolutionizing Global Payroll

This episode dives deep into the world of payroll with our special guest, Bart Vanderstorm. From the early beginnings in the payroll industry to the intricacies of global payroll operations, Bart shares his vast experience and insights. We discuss the importance of courage, communication, and the role of payroll at the intersection of HR, finance, and operations. The conversation covers the challenges of system integrations, the value of direct communication, and the need for payroll professionals to advocate for change within their organizations. Listen in as we explore Bart's journey, his approach to simplifying payroll processes, and his vision for a more connected and efficient payroll industry.

 Introduction to Payroll Insights

 Bart Vanderstorm: A Global Payroll Visionary

 The Complexity and Dynamics of Payroll

 Payroll Trends and Data Insights

 Discussion with Bart Vanderstorm

 Bart's Payroll Origin Story and Philosophy

 The Future of Payroll and Closing Thoughts

Pay News Updates! 

WALT

https://adpemploymentreport.com/

Private payrolls: In March 2024, private payrolls increased by 184,000 jobs, which is the largest increase since July. This suggests that companies are willing to pay more for new hires.

Nonfarm payrolls: In March 2024, nonfarm payrolls increased by 200,000 jobs, after rising by 275,000 in February.

Unemployment rate: The unemployment rate is forecast to remain at 3.9%.

https://www.kgw.com/article/news/local/protest-salem-unresolved-payroll-system-problems/283-096c75dc-a2dd-4d83-9734-795e74838f7

Questions for Bart

What’s your payroll origin story?

Why did you stay in payroll?

You wrote a book…what inspired you? 

What did you want folks to take away?

In your opinion, what will the payroll industry look like in 5 years?  

This or That

Water or Coffee

Crepes or Stroopwafels (waffle cookies)

Hiking or Cycling

Plane or Train

Museum or Music

Learning or Teaching