Small Business Payroll Services

Posted Leave a commentPosted in Accounting, Employee Benefits, payroll, Small Business

I see plenty of room for improvement is small business payroll processing. About 2 in 5 of all small businesses eventually wind up with problems and penalties due to payroll tax errors. The issue can usually be avoided by ensuring that service is provided by a reputable payroll service that is supervised by a responsible […]

Save money on small business payroll processing by removing bundled fees

Posted Leave a commentPosted in Accounting, Employee Benefits, Small Business

A no-load approach to small business payroll In the “old days”, small business payroll services were priced based on a formula that was a bit complex. Factors like frequency of payroll, number of employees, type of pay, benefits, and local taxes all factored into the cost. Year-end ad ancillary services were typically priced separately. To me, […]

Avoid payroll tax penalties!

Posted Leave a commentPosted in Small Business

A small nonprofit company owes almost $1,000 in tax penalties for the second time in 3 years because of lack of coordination between their accountant and their payroll services. They hired their payroll service directly without involving the accountant; that was the underlying problem. When the payroll service contract ended, so did their work and […]

Sample professional payroll service agreement

Posted 3 CommentsPosted in Accounting, Small Business, Taxes

What do you get when you hire a professional accountant to handle your payroll accounting and wage tax issues? This is certainly a fair question since the level of service seems to vary widely between providers. Some payroll service providers, I understand, do not even put the details of their services in writing. The professional […]

Who is responsible when the payroll service screws up?

Posted Leave a commentPosted in Accounting, Small Business, Travel

A new legal case might give some insight to responsibility for compliance with the maze of federal, state and local laws controlling electronic banking and payroll transactions Most small businesses that pay employees or contractors use a third-party payroll accounting service to handle the required record-keeping and tax payment transactions. These services are inexpensive, typically […]

How much does payroll service cost for a very small business?

Posted 3 CommentsPosted in Accounting, Small Business

How much does payroll service cost for a very small business? This is a simple question without a simple answer. As we might suspect, the answer is wrapped up in the details. 1. Service contract – Who pays penalties for screw-ups and responding to an audit? How reliable is the provider’s assurance? Keep in mind that a […]

Five tech tools to boost small business income

Posted Leave a commentPosted in Accounting, Small Business

There are two approaches to boost the income of your small business: Increase revenue, or Decrease expenses. If your experience is like mine, there is no shortage of people willing to help you raise income. Marketing experts, business coaches, networking specialists, branding experts, and so forth. My inbox is overflowing daily from so many offers […]

How to reduce small business labor costs (without paying employees less)

Posted Leave a commentPosted in Employee Benefits, self-employed, Small Business

This blog post uses examples of real current small business clients. I’m taking this opportunity to reinforce that the stories and examples that I use in frequent public posts are never presented in a way that compromises the privacy or identity of the business or individual. Small business owners feel the financial pressure of overhead […]

Update on accounting business practices

Posted Leave a commentPosted in Accounting, Security, Small Business, Taxes

In the normal course of business it is necessary to periodically update for changing trends, technology and legal and industry standards. This month I made the following six changes that will be reflected in future engagements: 1. Elimination of fax communications. Fax is just outdated, often insecure and inefficient. Instead, I encourage the use of […]