small business « The Payroll Department

Posts Tagged small business

It’s On for Electronic Reporting to OSHA – Oops, Nope, Not Quite Yet

Posted by Elaine on September 26, 2017

Like we are always saying here at The Payroll Department, there is constant and continual change from the government when it comes to employees and payroll taxes. OSHA (Occupational Safety and Health Act of 1970) reporting requirements were set to change on July 1, 2017 with the launching of its web portal in February 2017. However, because of a security breach, the portal has been temporarily suspended. What’s next?

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Tags: electronic reporting, employers, Injury Tracking Application, ITA, OSHA, small business, The Payroll Department

Posted in: Operating a Small Business

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

Posted by Ariane on September 19, 2017

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…)

Tags: Indiana, outsourcing payroll, payroll taxes, small business, small business and payroll taxes, small business payroll, Teresa Ray, The Payroll Department

Posted in: Payroll, Payroll Processing, Payroll Taxes

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In Small Business, A Little Savings Makes a Big Deal

Posted by Elaine on September 12, 2017

You can get online and search for ways to manage your finances as a small business owner and find thousands of ideas. Most often, you will fall into a deep abyss immersed in lots of finance words like cash flow, bottom line, profits, tax credits, and reduction of expenses. There will be talk of investing in your business and keeping a close rein on accounts receivable and accounts payable. And that’s all great advise, however there is one aspect of small business finance that doesn’t get enough attention. In fact, I think that a recent article in Entrepreneur is the first time in a l-o-n-g time that I have heard it mentioned. Know what that is?

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Tags: bookkeeping, Indiana, outsourcing bookkeeping, outsourcing payroll, payroll, payroll taxes, savings, small business, The Payroll Department

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

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Do You Know Why Your Small Business Is Failing?

Posted by Ariane on September 5, 2017

Did you know there are over 28 million small businesses in the United States, according to the Small Business Administration? If your business is succeeding, that’s great! Good job! Because, unfortunately, only about 50% of small businesses survive – and only one-third survive 10 years or more. Why do you think that happens in such numbers? (more…)

Tags: bookkeeper, bookkeeping, cash flow, Grace Walker, Indiana, outsourcing, small business, Teresa Ray, The Payroll Department

Posted in: Bookkeeping and Accounting, Operating a Small Business

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The Small Business Owner’s Guide for a Worry-Free Vacation

Posted by Ariane on August 8, 2017

If you’re a small business owner, do you plan on taking a vacation this year? If not, you’re not alone. Per a 2014 survey conducted by Ondeck Capital, 43% of business owners didn’t plan on taking a vacation that year. It’s not surprising when you consider that many entrepreneurs feel they can’t get away – otherwise, their small business might fall apart. Even among those who planned to take a vacation, 67% said they were going to check in with work at least once a day.
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Tags: Indiana, outsourcing payroll, payroll, plan for vacation, prepare for vacation, small business, small business owners, Teresa Ray, The Payroll Department, vacation preparation

Posted in: Operating a Small Business, Payroll

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If Outsourcing Your Payroll Processing Doesn’t Leave You Feeling Warm All Over …

Posted by Elaine on July 25, 2017

There isn’t one small business owner who needs anything that adds frustrations to their day. Here at The Payroll Department we know that for a fact because we hear about it all the time – especially when we get a call from a business owner who wants to transfer their payroll processing from a national firm to The Payroll Department. (more…)

Tags: outsourcing payroll, payroll processing, payroll service, problems with payroll services, small business, Teresa Ray, The Payroll Department

Posted in: Operating a Small Business, Payroll

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10 Tips for a Successful Franchise Business

Posted by Ariane on July 11, 2017

Have you thought of running a franchise? Or, maybe you currently own one – or more. Running any small business – even a franchise – isn’t easy. However, a franchise does come with certain built-in advantages. It’s basically known as a business in a box, because the business has already been developed by the franchisor. For instance, a franchise already comes with brand name recognition, so, theoretically, getting customers should be a little easier. Also, in some cases, the franchisor provides franchise owners with detailed manuals to help them run their business. While these things are helpful, running a franchise is still hard work and can be overwhelming, especially when starting out.
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Tags: bookkeeper, bookkeeping, Grace Walker, Indiana, outsourcing, small business, Teresa Ray, The Payroll Department

Posted in: Bookkeeping and Accounting, Operating a Small Business

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How to Increase Productivity as a Small Business Owner

Posted by Elaine on July 5, 2017

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…)

Tags: benefits of outsourcing, bookkeeping, entrepreneurs, outsource payroll, payroll service, productivity, small business, small business owners, Teresa Ray, The Payroll Department

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

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Warning: Without an Accounts Receivable Process You Won’t Get Paid

Posted by Ariane on June 6, 2017

Occasionally, at networking and other events, we hear small business owners grumble about not getting paid for jobs they’ve done. At The Payroll Department, we understand their frustration. Often, the problem really comes down to not having an accounts receivable process in place. Many entrepreneurs “leave money on the table” by not telling their clients what their terms of payment are, not following up for payment, and worst of all, not even sending an invoice. (more…)

Tags: accounts receivable, benefits of outsourcing, bookkeeper, bookkeeping, Brownsburg, cash flow, Grace Walker, small business, small business owners, Teresa Ray, The Payroll Department

Posted in: Bookkeeping and Accounting, Operating a Small Business

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How Outsourcing Your Bookkeeping Can Help with Your Small Business Exit Strategy

Posted by Ariane on May 30, 2017

Congrats! You’re a successful small business owner, but now you’re starting to think about moving on or retiring. Whether you’ve been in business for one year or 25 years, you need to plan your exit strategy. What do you want to do with your small business? Walk away from it? Sell it to someone else? Merge with another business? (more…)

Tags: bookkeeper, bookkeeping, Brownsburg, business exit strategy, Grace Walker, Indiana, outsourcing, outsourcing payroll, small business, Teresa Ray, The Payroll Department

Posted in: Bookkeeping and Accounting, Operating a Small Business

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