Technological advances are a staple of the 21st century. Not only does technology affect our everyday lives, but it changes the sectors and industries in which we work. When a small business has the proper technological tools, it strengthens the company’s efficiency and helps employees to better service clients. Are you on the up and up? If you’re thinking about potentially owning a small business shortly or already have one to call your own, then you should keep reading about these three trends that are changing the face of finance in 2019.
Employees eagerly await tax season. Why? Because that’s when they get their tax refund! This year, workers have been eagerly filing their taxes only to find that they received less money than last year. But why? Well, if you remember, 2017 was the year that mandated a tax reform. Tax reforms are supposed to be beneficial. The goal of tax reform is to save money. What changed this year? Payroll comes into play. The amount of money withheld from your paycheck adjusted to match the projected tax amount. Fewer funds coming out of your paycheck decreases your tax refund. Keep reading for tips on how to offset smaller tax returns.
At any company, getting paid is important. Of course, the purpose of performing a job is also important as well as how many fun, company trips are planned: people still want to be paid and paid correctly. In the long run, it can cost payroll significantly if they are not detail-oriented. Of course, distributing paychecks is the largest expense for any company but not distributing checks properly is even costlier. Here are a few reasons why.
We are toward the end of December, which means 2018 is coming to an end. For all of the small business owners out there, the end of each year is the time when you need to process payroll for the past calendar year. Processing payroll at the end of the year can be complex and detail-oriented requiring you to calculate taxes and compensation totals for each employee. Luckily, there are a few simple payroll processing tips you can follow at the end of the year. Continue reading “3 Year-End Payroll Processing Tips”
Running a business is not an easy feat, whether you are in charge of a large company or starting a small business. If you are in starting a small business, one of the most important aspects is setting up payroll so that you can pay your employees and yourself. In last weeks blog, we discussed general tips on how to operate and manage your small business’s payroll on a regular. If you want to learn how to set up payroll for your small business, then follow these simple tips. Continue reading “How To Set Up Payroll For Your Small Business”
Running a small business is not an easy task, especially one that is successful and improving on their profits on a yearly basis. An important aspect of running a small business is setting up and managing your payroll services. You want to make sure you are managing your payroll properly so that you avoid IRS penalties once tax season comes around. Luckily, there are a few payroll tips you can follow Continue reading “3 Small Business Payroll Tips”
If your company is still using a paper check system, you might be making extra work for yourself and sacrificing efficiency. Over 82% of employers in the US use a direct deposit payroll system and accounts payable system, which often benefits companies, employees, and vendors alike. Payroll reports and vendor payment reports are still easily accessible. However, the overall workload of payment is significantly reduced. Continue reading “Benefits Of Direct Deposit”
One of the most important tasks of any business is to pay their employees on a consistent and timely basis. However, if you are a small business just starting out, that might be easier said than done. Having an efficient payroll management system involves patience and having an extensive knowledge of state and federal tax requirements. Luckily, there are a few simple tips to improving your payroll process so that your employees can get paid consistently and accurately. Continue reading “Do You Want To Improve Your Payroll Process?”
Starting a business is not easy, but maintaining a business can be even harder. As you are experienced in what your business offers, there is a lack of knowledge in successfully running a business like HR, taxes, and payroll. If you want to expand your business, but still pick up basic knowledge about the payroll department, here is what you need to know about managing your payroll. Continue reading “What to Know About Managing Your Payroll”