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5 of the Biggest Payroll Mistakes that Small Business Owners Make

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…)

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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4 Benefits of Outsourcing for Your Small Business

As an entrepreneur, are you trying to do it all when it comes to running your small business? While you may think you’re the only one who can do the work efficiently, that’s not really the case. If you want your small business to grow, you need to learn how to let go and start delegating tasks that really aren’t your forte. However, some entrepreneurs don’t want to hire full- or part-time employees to take on these responsibilities. That’s when outsourcing makes a lot of sense. (more…)

Posted in: Churches and Non-Profit Employers, Operating a Small Business, Payroll, Payroll Processing

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Are You Opening Up Your Small Business to Payroll Fraud?

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…)

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

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Employers Must Pay for Short Employee Breaks

As an employer, you set the policies for managing your small business and your employees. But you better make sure your payroll policies follow government rules. Otherwise, you may have to pay back wages and fines. Just ask Progressive Business Publications. The Pennsylvania company owes current and former employees about $1.75 million in back wages and damages for docking its employees’ pay for bathroom breaks. (more…)

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

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Minimum Wage – more than meets the eye

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…)

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

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How to Take a Proactive and Diligent Defense Against Payroll Fraud

What do you know about payroll fraud? Have you given it much consideration? Payroll fraud is a crime in which employees use the payroll system to steal money from a company, and it does happen. In fact, an article in Forbes reports that 27% of all businesses experience payroll fraud and that small businesses are nearly twice as likely to encounter fraud as larger businesses are. As these statistics show, this is obviously a problem that should not be ignored. (more…)

Posted in: Operating a Small Business

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The Truth about Payroll Taxes

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…)

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

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Employee Record Retention and Destruction: Make Sure Your Business Is in Compliance

Business owners accumulate substantial volumes of employee records like employment applications, performance reviews, payroll records and disciplinary actions. At the beginning of the year, when many employers can’t stuff another piece of paper into crowded filing cabinets, they often decide it’s time to purge old files. But, before you start throwing out any documents, you need to make sure you’re in compliance with federal, state and local laws that require you to retain employee records for a specified time period. (more…)

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

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

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…)

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

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Payroll Leap Year…and Other Payroll Oddities

Every four years, the calendar offers up a dilemma to the world: How exactly will you spend that extra day in the wonderful blustery gray month of February? Well, actually leap year doesn’t really present too much of a problem. It’s pretty predictable – it comes every four years at the same time. So not a whole lot of preparation is required. But there are other calendar irregularities that can cause a bit more of a problem. (more…)

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

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