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Posts Tagged small business payroll

Handling the Limitations of Payroll Software

If your small business employs workers, you must have a reliable payroll system. If your company only has a few employees, you may be able to get by with a manual payroll process. However, once your business starts to grow, you may decide to use payroll software to handle your payroll tasks. (more…)

Posted in: Operating a Small Business, Payroll

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4 Issues to Consider Before You Hire Employees

Is your small business finally taking off to the point where you need to hire employees? While this can be an exciting next step for any entrepreneur, it can also be a nerve-wracking change. After all, you’ll be delegating some business tasks you normally do. Plus, you’ll now being taking on the role of employer. (more…)

Posted in: Bookkeeping and Accounting, Operating a Small Business

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Discover How to Help Your Small Town Business Thrive

Running a business in small town can be very different than owning a business in a big city. You may have less competition in your market, but if your competitors have been around longer, they likely already have long-standing customer relationships. However, there are advantages to having a small town business, such as the ability to experiment more with your products and services, and the capacity to stand out, so you can make a bigger impact. (more…)

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

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Payroll: What’s the Difference Between Contractors and Subcontractors?

Have you thought about hiring someone to do the marketing, human resources, or payroll for your small business? Are you confused about how the relationship works between contractors and subcontractors and your business? Do you wonder how these arrangements may affect your payroll? Many times the terms – contractor and subcontractor – are used interchangeably; however, key differences do exist between the two roles. Therefore, The Payroll Department would like to clarify these terms and explain how they relate to your business’s payroll. (more…)

Posted in: Payroll, Payroll Processing

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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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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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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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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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How Much Can Your Business Afford to Pay You?

Every small business owner inevitability wants to know the answer to: How much should I pay myself? After all, it’s one of the reasons you went into business in the first place – to earn money. Unfortunately, there aren’t any set guidelines that outline when and how much you should be paid. (more…)

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

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Some States Try Auto-IRAs to Encourage Savings

Experts 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…)

Posted in: HR Rules, Regulations and Laws, Human Resources, Operating a Small Business, Retirement plans, Rules, Regulations and Laws

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