Is DIY Payroll Worth It Compared to Hiring a Payroll Service?
When you’re running a small business, doing your own payroll might sound like a money-saving idea and an easy way to take control of your finances. But it’s not that easy just to send out checks. DIY Payroll involves a boat load of compliance worries when it comes to federal taxes, state taxes and even […]
How Often Should I Run Payroll for My Employees?
One of the first decisions you must make when hiring your first employee is pay frequency, or how often you pay your team. If you’ve not yet contemplated payroll frequency, start doing it now. Your workers’ happiness, legal standing and cash flow might be riding on it. What is pay frequency? Pay frequency, also known […]
How Do You Do Payroll?
The purpose of payroll is to correctly pay employees on time and in accordance with all regulations set up by the government. This procedure consist of the following steps: Let’s look more closely at each step in the payroll process. Calculating hours worked and gross pay First, the total number of hours worked by each […]
How Do I Set Up Payroll for My Small Business Myself?
A good payroll processing is the way successful businesses pay their people. New employers have a bit of setup work, but they can be running payroll in just six steps: Get your EIN number In concept, an EIN is very similar to a Social Security Number (SSN). As you need your SSN to file your […]
What Information Do I Need to Set Up Payroll for My Business?
Whether you have one employee or 50, setting up a payroll system not only streamlines your ability to stay on top of your legal and regulatory responsibilities as an employer, but it can also save you time and help protect you from incurring costly Internal Revenue Service (IRS) penalties. Here is the information you need […]
What Taxes and Deductions Are Included in Payroll Processing?
Employers are legally obligated to collect portions of employee paychecks for federal income taxes and FICA contributions. Employers are also allowed to withhold funds for optional deductions (e.g. retirement plans and health insurance premiums) when authorized by employees. The reason that calculating payroll deduction can be so difficult is due to the combination of complex […]
What Are the Most Common Payroll Processing Mistakes to Avoid?
Proper payroll management means compensating your employees accurately, on time, and in accordance with all relevant legislation. More importantly, though, employee payroll can be a war zone if not properly equipped and facilitated due to the many preventable errors that could detract from both your business and more crucially; your employee’s time/money. Check the four […]
How Can Payroll Processing Services Save My Business Time and Money?
Payroll is an important part of any business but it can also be among its most tedious, complicated and error-prone tasks. Outsourcing payroll services is a practical answer for many businesses — it saves time and money, removes the fear of being non-tax compliant, and ultimately, makes a company operate more efficiently. The Payroll Company’s […]
10 Key Advantages of Online Timekeeping for Your Business
In today’s digital age, many businesses still rely on outdated manual time tracking methods. While pen-and-paper or traditional punch cards may seem familiar, they are often inefficient and error-prone. If your company hasn’t yet adopted an online timekeeping system, it’s time to consider the many benefits that this technology offers. An online timekeeping system is […]
Why Do Employee Performance Rewards Work?
You put your heart into your business. You put all your efforts into it to make it a success. But are you forgetting one essential thing? Your employees. You’re feeding your operation’s beating heart. They make your vision reality. And if you want to see actual growth, you must make them feel valuable. Rewarded. Appreciated. […]
