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What About Payroll?

Written by: Allan Branch

Article Overview: Handle payroll the simplest and proper way!

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What About Payroll?

Now that you have employees what do you do?

DO NOT just go out and buy a well known payroll software package and start printing payroll checks.

Please read from a previous article, utilizing K.I.S.S. (Keeping It Simple at Startup).
Sole Proprietors:

If your business is just starting up and you anticipate more than two employees. Find a reputable payroll leasing company and dump the entire problem on them. Yes, it will cost you a little more for each payroll but just add the extra cost to your bidding process. By leasing your employees the leasing company takes on full responsibility for all of the State and Federal reporting and insurance requirements. Also, your small number of employees could have access to large group health insurance and other fringe benefits for a smaller fee than you can offer.
Corporations and LLCs:

If your business is just starting up and you anticipate more than two employees. Find a reputable payroll processing firm who will assume all of the record keeping and reporting requirements from you. You will still be ultimately responsible in the IRS eyes for your payroll but will have professionals to help you along the way.

In both cases, when you feel comfortable about all of the State and Federal payroll laws then you can start looking for an in-house software solution. Do not depend on your internal bookkeeper because you are ultimately liable and need to know how records, reporting, tax deposits and required insurance should be done in order to C.Y.A.

Everyone with less than two employees, just let your tax professional or C.P.A. guide and help you in the payroll reporting and form processing requirements on a quarterly basis.

Remember focus on building your business not creating paperwork.

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Home > Accounting > Allan Branch > What About Payroll
Article Tags: bookkeeper, form processing, fringe benefits, group health insurance, health insurance, insurance requirements, irs, large group, leasing company, llcs, payroll checks, payroll laws, payroll processing, payroll software, quarterly basis, software package, software solution, sole proprietors, tax deposits, tax professional

About the Author: Allan Branch
RSS for Allan's articles - Visit Allan's website

Because your job title isn't Accountant! Less Accounting is accounting software, that we built for the rest of us! Do you just need a simple, web-based accounting solution? Not everyone needs a training manual or balance sheet to keep their accounts, sales and contacts in order. Try us out! www.b.lesseverything.com Follow us on Twitter: @lessaccounting, @lessallan, @stevenbristol, @mollyberema

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Re: Hat's off to you- Re: Hat's off to you- - [quote="BizLoanz4u":1j1xk9p5]As an owner/operator, I wear many hats...especially when employees become ill, go on vacation or resign. Here's the hat's i've worn over the years: 1) Manager 2) Salesman 3) Book keeper/ Accountant 4) Publicist 5) Payroll officer 6) Receptionist 7) Secretary[/quote:1j1xk9p5] Hi Michele, Would you be able to rate each of your job functions on a scale of "1 = generalist" to "10 = expert" and even which tasks you outsource? Thanks
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