Everybody Likes Pay Day?

Payroll processing can often become burdensome for a business owner because local, state, and federal tax regulations change regularly - and often with little notice. Failure to keep up and comply with the most recent payroll tax laws could result in fines and penalties for your business.  

Payroll problems can also lead to unhappy employees, and expose employers to a lot of risk.

Small business owners can avoid may of the major (and minor) payroll mistakes simply by setting up their payroll properly.

You can calculate wages perfectly and get payroll done on time each pay period. But if you didn't register your business, set up federal, state and local tax withholdings or classify employees correctly, your payroll will be incorrect, and you may soon have the IRS knocking on your door.

In order to file the proper amount of taxes, you'll need to study the law and understand how much to withhold from employees for federal and state income taxes, Social Security and Medicare taxes, and other applicable state and local payroll taxes. Plus, you need to understand how much you, as an employer, will pay in taxes.

At Off-Site Business Services, we work with a variety of different payroll systems and can, not only, recommend which software is best for your company, but also manage your entire payroll process.

For a suggestion on which direction to take and a free, no obligation quote, call us today.

                                Kim

The Biggest Challenge Facing Your Small Business is ...

Starting a business is a big achievement for many entrepreneurs, but maintaining one is the larger challenge. There are many standard challenges that face every business whether they are large or small. These include things like hiring the right people, building a brand and so on. However, there are some that are unique to small businesses - ones most large companies have grown out of long ago. Over the next five issues, we will be identifying five of the Biggest Challenges Facing Your Small Business (from contributor Andrew Beattie in Investopedia).

This Week:  Fatigue

The hours, the work and the constant pressure to perform wears on even the most passionate individuals. Many business owners, even successful ones, get stuck working much longer hours than their employees. Moreover, they fear that their business will stall in their absence, so they avoid taking any long breaks away from work to recharge. When fatigue sets in, the weariness with the hours and the results can lead to rash decisions about the business, including the desire to abandon it completely. Finding a pace that keeps the business humming without grinding down the owner is a challenge that comes early (and often) in the evolution of a small business.