Top Tips to Improve Cash Flow in Your Small Business
What do you consider the most important factor in small business success? I won’t keep you in suspense, the two words that sum it up perfectly is: CASH FLOW. (more…)
Archive for Operating a Small Business
6 Payroll Terms Business Owners Need to Know
Posted by Ariane on February 14, 2017As a small business owner, you know all about your products or services. You’re the expert. However, when it comes to payroll, you may be an amateur with a limited understanding about compensation and taxes. Nevertheless, you may be trying to handle your company’s payroll on your own. Or, maybe you’ve realized you just don’t have the know-how to tackle your company’s payroll, so you’ve hired an employee or a payroll services like The Payroll Department to handle your company’s payroll for you. (more…)
Civil Penalties for DOL Violations Increase January, 2017
Posted by Elaine on February 7, 2017In so many of our blogs we go on about the expense to small business owners when they don’t comply with reporting and deposit regulations when it comes to taxes and governmental reports and filings. It’s not because we want to scare you. It’s because we want you to see how quickly these penalties and interest can add up for one mistake – even if it is an inadvertent mistake. (more…)
How to Operate in a VUCA Environment
Posted by Ariane on January 31, 2017Does market and cultural volatility and uncertainty, the complexity of making business decisions, and ambiguity about the future worry you? Small business owners don’t have an easy job in running their businesses when dealing with the present economic environment, which is often referred to as VUCA, an acronym for volatility, uncertainty, complexity and ambiguity. Therefore, entrepreneurs need to develop strategies to use in their businesses to effectively operate within a VUCA world. (more…)
Tags: benefits of outsourcing, bookkeeping, business ambiguity, business complexity, business environment, business strategies, business uncertainty, business volatility, financial management, outsourcing bookkeeping, payroll laws, small business, small business bookkeeping, The Payroll Department, VUCA
Posted in: Bookkeeping and Accounting, Operating a Small Business
Leave a Comment (0) →Beyond Money: Rewards for Employees
Posted by Jessica on January 24, 2017When you think about rewarding employees, do you tend to consider only monetary rewards? Do you imagine that your choices for incentives only include raises and bonuses? Many small business owners tend to focus strictly on the monetary rewards, but actually there are other ways that you can give employees a lift. (more…)
How Long Should You Keep Your Business Tax Records?
Posted by Ariane on January 17, 2017Every year, as your small business files its taxes, your company is left with stacks of paperwork. You may shove it into a filing cabinet or a storage box. However, eventually, you may wonder: How long do I need to keep these tax records? (more…)
Tags: benefits of outsourcing, bookkeeping, employers, small business owners, tax record retention, tax records, The Payroll Department
Posted in: Bookkeeping and Accounting, HR Rules, Regulations and Laws, IRS and Tax forms, Operating a Small Business, Payroll Taxes, Rules, Regulations and Laws
Leave a Comment (0) →New Employer Legislation on Health Benefits and Reimbursement
Posted by Elaine on January 10, 2017As a firm who works closely with small business owners, The Payroll Department hears that although many small business cannot afford to provide health insurance benefits to employees, many do want to help. For those owners who want to provide a benefit without it being health insurance coverage, legislation is coming that you need to know about. (more…)
Some States Try Auto-IRAs to Encourage Savings
Posted by Jessica on December 20, 2016Experts have been sounding alarm bells for years about the number of individuals who are not saving enough for retirement. But many workers continue to put off preparing for the future. Now some states are taking matters into their own hands. Several states either have passed legislation or are considering legislation which would create a so-called “auto-IRA.” States are hoping that these mandatory IRAs will spur savings among employees. (more…)
Tags: auto-IRA, payroll deductions, payroll service, retirement savings, small business, small business payroll, Teresa Ray, The Payroll Department
Posted in: HR Rules, Regulations and Laws, Human Resources, Operating a Small Business, Retirement plans, Rules, Regulations and Laws
Leave a Comment (0) →Why Your Small Business Needs a Budget
Posted by Ariane on December 13, 2016Do you create a budget for your small business every year? If not, you really should develop one. A budget is a spending plan for your business. It helps you estimate your business’s costs, revenues and resources for a specific time frame, so you’ll know if you have enough money to do the things you need or want to do with your business. (more…)
Overtime Rule Put on Hold!
Posted by Elaine on December 6, 2016Small business owners can take a collective breath – at least temporarily. U.S. District Judge Amos Mazzant in the Eastern District of Texas granted a preliminary injunction regarding the Dec. 1 implementation date of new Overtime Rules released by the Labor Department in May, 2016. (more…)
