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

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

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