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Archive for Payroll Processing

Is PTO Right for Your Company?

Managing the day-to-day operations of your business can keep any owner busy. Top it off with the holiday seasons’ flurry of vacation time and sick days, and you’ve got an even bigger challenge. Payroll and paid time off for employees can get complicated. But The Payroll Department is always ready to help you simplify and make payroll details manageable.

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Posted in: Employee Benefits, Payroll Processing, Staffing

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Failure to Send Payroll Taxes Could Result in 5-Year Prison Term

The IRS can be tough when it comes to collecting payroll taxes. Businesses are required to withhold taxes from employee wages and pay these funds to the IRS. However, if the IRS doesn’t get this money, the penalties can mount up quickly. It doesn’t matter what your reason could be for not paying this money – even if it’s a good one. Not only will the IRS target the business owner, but they’ll also go after the check signer and any other person responsible for failing to pay the taxes. If you’re convicted, you could go to prison for up to five years.   (more…)

Posted in: Payroll, Payroll Processing, Payroll Taxes

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How to Increase Productivity as a Small Business Owner

Small business owners are one of the hardest working groups of people everywhere across the world. Some are more successful than others, but it’s usually not because of a lack of trying. Productivity is key to success for entrepreneurs – there’s always so much to do! John Maxwell says, “The secret of your success is determined by your daily agenda.” He’s not alone in his view. What is it that you can do every day that will set your path and direct your energy to success? (more…)

Posted in: Bookkeeping and Accounting, Operating a Small Business, Payroll, Payroll Processing

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Could You Use an Extra 48 Hours Every Year?

Want to know how to use up business-building time in your small business? Here’s a hint: The National Small Business Association estimates that more than 50% of American businesses spend AT LEAST 4 hours PER MONTH in payroll processing. That equals 48 hours PER YEAR – that means you lose one full week of productivity every year doing payroll. What’s that costing you??? (more…)

Posted in: Payroll, Payroll Processing

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Common Myths about Outsourcing Payroll, Part 4

 We’ve Reached the Last 2 Myths of 10 Total

 If you’re a small business owner and you have employees, you must do payroll. It’s a given. You can’t get out of it. Your employees expect to be paid for their work. However, that doesn’t mean YOU have to do your own payroll. You can outsource your payroll to a payroll service provider like The Payroll Department. But many small business owners won’t subcontract their payroll, because they believe all these myths about outsourcing payroll that they hear from other people. (more…)

Posted in: Payroll, Payroll Processing

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The Gig Economy is Changing the Way Small Business Works

There is little doubt that small business owners have to constantly adapt to the changes in the business arena. One area that is making an impact is the upsurge of freelancers and contract workers. A study by intuit reported that by 2020, more than 40% of the American workforce, or 60 million people, will be freelancers, contractors and temp workers. That can make a change in the workforce mix of your business, can’t it?
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Posted in: Payroll, Payroll Processing

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Common Myths about Outsourcing Payroll, Part 3

We’re Still Not Done with Myths about Payroll Outsourcing

As a small business owner, your employees’ financial stability is basically in your hands. They depend on you to process payroll in a timely and accurate manner each pay period. Otherwise, your employees can’t meet their financial obligations, such as mortgage or rent payments, car loans, or household bills. (more…)

Posted in: Bookkeeping and Accounting, Operating a Small Business, Payroll, Payroll Processing

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Truth or Consequences – A Payroll Error

Recently I had an entertaining lunch with a friend that was great fun, but it really brought up some important, and serious, issues. When a paycheck goes terribly wrong, what happens? Payroll errors can have long-lasting repercussions. (more…)

Posted in: Operating a Small Business, Payroll Processing

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Common Myths about Outsourcing Payroll, Part 2

3 More Myths Small Business Owners May Believe

Last month, The Payroll Department explored three common myths about outsourcing payroll that entrepreneurs may have:

  • Myth #1: In-house payroll processing saves time and money – and is error-free.
  • Myth #2: Payroll outsourcing is too expensive.
  • Myth #3: Outsourcing payroll means I lose control over my payroll

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Posted in: Operating a Small Business, Payroll, Payroll Processing

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Common Myths about Outsourcing Payroll, Part 1

Do These 3 Myths Sound Familiar to You?

Outsourcing payroll is becoming a more popular option for many small business owners. After all, employees want to get paid accurately and in a timely manner. However, many small business owners still spend hours and hours a week processing their payroll instead of spending that time on what they do best – running their businesses. (more…)

Posted in: Operating a Small Business, Payroll, Payroll Processing

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