Elaine « The Payroll Department

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Is Your Bookkeeping Killing Your Small Business?

Posted by Elaine on May 24, 2016

It’s pretty overwhelming when you think about it – one out of five new businesses are destined to fail. The top reasons for small business failures all tie back in some way to financial management. Cash flow, cash management and just knowing the numbers are at the crux of the problem. The reasons for that are probably pretty simple: many small business owners don’t go into business to do bookkeeping and be a financial analyst. They go into business to provide a product or service to the masses. That’s what really floats their boat. (more…)

Tags: benefits of outsourcing, bookeeping service, bookkeeper, cash flow, employers, financial management, Indiana, small business, The Payroll Department

Posted in: Bookkeeping and Accounting, Operating a Small Business

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5 of the Biggest Payroll Mistakes that Small Business Owners Make

Posted by Elaine on April 26, 2016

Have you ever read something and found yourself shaking your head in agreement through the entire piece? Well, when I saw a slide presentation from Accounting Today about the payroll errors commonly made by small business owners, I had to agree. I personally have been given these reasons for why some of my clients make the decision to outsource their payroll to The Payroll Department! These are costly mistakes when the IRS or other governmental agency gets involved – I know lots of people who will agree with that. Don’t be caught out! (more…)

Tags: benefits of outsourcing, Brownsburg, employee classification, Indiana, payroll mistakes, payroll service, payroll tax reporting, small business payroll, Teresa Ray, The Payroll Department, worker classification, Zionsville

Posted in: Churches and Non-Profit Employers, IRS and Tax forms, Operating a Small Business, Payroll, Payroll Processing, Rules, Regulations and Laws

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Employers Need to Be Aware of Differences in Federal and State Labor Laws

Posted by Elaine on April 12, 2016

Employers cannot rely solely on the guidelines in the Fair Labor Standards Act. So, if you think you know that Act inside and out and you are safe … think again. Why? Because each state also has its own set of rules, regulations and laws by which you must abide if you are a resident of their state. And that can get you into trouble. (more…)

Tags: benefits of outsourcing, difference between federal and state labor laws, employees, employers, Indiana, outsourcing payroll, payroll provider, shortage in cash drawer, small business, small business payroll, Teresa Ray, The Payroll Department

Posted in: Operating a Small Business, Payroll, Payroll Processing, Rules, Regulations and Laws

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Are You Opening Up Your Small Business to Payroll Fraud?

Posted by Elaine on March 29, 2016

According to an article in Forbes by Matthew Garrett, payroll fraud is a problem. A really big problem. He says that 27% of all businesses are the victims of payroll fraud. And, small business owners beware, because Garrett says payroll fraud occurs nearly twice as often (14.2%) in small organizations with less than 100 employees than in large ones (7.6%). (more…)

Tags: Brownsburg, employees, employers, payroll fraud, payroll provider, payroll service, small business, Teresa Ray, The Payroll Department

Posted in: Operating a Small Business, Payroll, Payroll Processing, Rules, Regulations and Laws

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Minimum Wage – more than meets the eye

Posted by Elaine on March 15, 2016

Minimum wage is a hot topic in the media these days, but we aren’t going to debate increasing the minimum wage to $15. The amount may be under debate, but the one thing that doesn’t change is the fact that employers have laws to follow regarding minimum wage. (more…)

Tags: Brownsburg, compliance, employees, Indiana, minimum wage, payroll laws, payroll service, small business, small business payroll, Teresa Ray, The Payroll Department

Posted in: Operating a Small Business, Payroll, Payroll Processing, Rules, Regulations and Laws

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The Truth about Payroll Taxes

Posted by Elaine on February 23, 2016

In the politically charged atmosphere during the couple of years preceding a presidential election, the topic of taxes – and payroll taxes in particular – takes center stage. It is payroll taxes that take a bite out of both employees’ paychecks and small business owners’ bottom lines. (more…)

Tags: Brownsburg, FICA, income tax, Indiana, payroll provider, payroll service, payroll tax reporting, payroll taxes, Teresa Ray, The Payroll Department

Posted in: IRS and Tax forms, Operating a Small Business, Payroll, Payroll Processing, Payroll Taxes, Rules, Regulations and Laws

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Words Small Business Owners Don’t Want to Hear: Pay Back Wages

Posted by Elaine on February 9, 2016

One thing a small business owner never wants to hear in connection with his payroll is BACK PAY. Don’t be confused, Back Pay is not when you give an employee a raise and make the start date in the past and allow for retroactive pay. No, Back Pay is a remedy for wage violations. It’s an order that the employer make up the difference between what the employee was paid and what the employee should have been paid. It’s a serious situation. (more…)

Tags: Back Pay, employees, employers, Indiana, outsourcing payroll, payroll accuracy, payroll service, Teresa Ray, The Payroll Department

Posted in: IRS and Tax forms, Operating a Small Business, Payroll, Payroll Processing, Payroll Taxes, Rules, Regulations and Laws

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It’s Just a Number, Right? Not to the IRS!

Posted by Elaine on December 22, 2015

As an employer, whether you are a big or small business, you have the responsibility to hire employees who are authorized to work in the United States. One of the ways many employers ensure workers are legally able to work is by getting employees’ social security number. Easy, right? Well, not so much. Let me tell you a story from the offices of The Payroll Department. (more…)

Tags: benefits of outsourcing, Brownsburg, employees, employers, individual Taxpayer Indentification Number, ITIN, payroll tax reporting, small business payroll, social security number, SSN, tax laws for payroll, Teresa Ray, The Payroll Department, worker classification

Posted in: IRS and Tax forms, Payroll, Payroll Processing, Payroll Taxes, Rules, Regulations and Laws

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Does One More Pay Period in a Year Make Any Difference?

Posted by Elaine on November 24, 2015

When is 52 not the correct answer? That’s easy when you look at it from a payroll perspective …

Depending on the payroll schedule and the day of the week payroll is issued, you might actually have 53 payrolls in a year or 27 if you are on a bi-weekly payroll schedule. Because of that, there may need to be adjustments to the taxes being withheld. In addition, adjustment might be necessary to pretax deductions. (more…)

Tags: benefits of outsourcing, biweekly pay periods, payroll schedules, payroll service, payroll tax reporting, small business payroll, The Payroll Department

Posted in: Operating a Small Business, Payroll, Payroll Processing, Payroll Taxes

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Indiana Small Businesses Getting Some Relief

Posted by Elaine on November 10, 2015

It’s a great feeling to share some good news for employers! The entrepreneurs who supply jobs to the community display courage and leadership every day and now they are set to get some small business love. (more…)

Tags: benefits of outsourcing, employers, Indiana, payroll tax reporting, The Payroll Department, unemployment taxes

Posted in: News, Payroll, Payroll Processing, Payroll Taxes

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