Outsourcing Payroll is One Way to Demonstrate Responsible Leadership for Entrepreneurs
While her friend, Jasmin, poured her heart out to her, Olga sat quietly behind her desk. She was being a good friend by listening so intently. She was being an even better friend by biting her tongue instead of saying, “I told you so.” Jasmin began to sob as she explained that she was now in trouble with the IRS.
She had incorrectly entered some numbers in the paperwork on her payroll taxes report. She had made things worse by failing to identify contract workers more clearly. She took an even bigger hit by forgetting to keep up with the ever-changing and very often confusing business of tax law. Because of these huge mistakes, Jasmin had been forced to lay off a couple of very talented employees. And then, with all the added financial pressure, she was three days late with payroll and three workers walked out of the workplace and never returned.
Jasmin was beginning to understand that her mistakes were serious and had consequences:
- She had put her small business at risk, which meant her family’s financial stability was at stake.
- Her mistakes caused problems with That had felt she did not value or respect them and they began to lose trust in her abilities as an entrepreneur and employer.
- The fines and penalties in addition to the current small business taxes added a huge financial burden on her shoulders.
After Jasmin was finished spewing her troubles all over Olga’s desk, Olga suggested a payroll provider and wrote down the contact information for The Payroll Department. She reminded Jasmin very gently that nearly a year ago, Jasmin had decided to not contact these payroll experts because she didn’t want to spend money on payroll fees. Olga pointed out that now, Jasmin would be spending literally thousands of dollars for fines, penalties and taxes in an effort to get herself back on track. Not to mention she had to find new employees to fill all the vacated jobs.
It’s smart to outsource payroll services. The Payroll Department stays on top of changing labor and tax regulations and laws. They guide their clients in assessing how to properly classify workers – as employees or contract workers. And, they prepare all the reports submitted to the IRS and state revenue departments and get them filed on time. In other words, The Payroll Department handles all the tasks required to prepare, report and account for payroll. They keep you organized, complete and on-time.
Small business owners often find themselves overwhelmed with all kinds of responsibilities and headaches. Leadership does not mean doing it all alone. One great place to help yourself is to contact The Payroll Department in Brownsburg, Indiana. It’s not worth it to leave it to chance. You don’t want to end up in the same predicament as Jasmin.
-Sherri of The Payroll Department Blog Team