Now mind you, I have been around small business people all my life, I even started out as one, after retirement, I guess, I am now a semi-retired businessman. So, when I give you this next advice, realize that I am speaking from experience. Small businesses need to outsource their payroll accounting, because it is serious business and if you make a mistake you could be fined or imprisoned. Certainly, I could tell you 100s of stories of small business people getting into serious trouble over payroll accounting, and it is just not worth it.

As a franchisor, our franchisees always had issues with payroll accounting, those who attempted to do it themselves using the latest software still spent huge amounts of time, time they should have spent with their families or in running their businesses. Small Business Entrepreneurs should do what they are good at and not get stressed out over those things they hate to do (accounting, especially payroll accounting) and do what they are best at; Making Money! You must make money in your business and you must focus and spend your time wisely.

Who should you hire for payroll accounting? Well, obviously someone who knows what they are doing, has good testimonials and has had a bit of experience dealing with government agencies and those who enforce payroll laws. Hire the best, work only for the best, so you can be only the best, and let me tell from experience that is my best advice in this matter. Let us call it my "Final Answer!"


Article Source: http://EzineArticles.com/?expert=Lance_Winslow

If you had known it would be this hard...If you're a small business owner, one of your constant headaches is making sure you're filing your payroll taxes correctly. You have to make sure you're taking out the right amounts in federal and social security taxes for your employees. You have to make sure you're reporting correctly to the IRS, and you have to make sure you pay the IRS those taxes every quarter, even if the payment could hurt your business.

Accidents happen...What happens though if you make a mistake on your reporting? Or worse, what happens if you don't pay on the taxes? What kind of help with payroll taxes can you get, and what can the IRS do to you?

As a former IRS-Hitman I can tell you that IRS revenue agents wait for small businesses to make a mistake on their payroll taxes. Small businesses, especially new ones can be a big payday for the IRS collectors once a debt from misfiled or un-filed payroll taxes occurs. So what help with payroll taxes is available?

The first step is admitting you need help. If you haven't hired an accountant or a CPA to help with you payroll taxes, you should. Even if you or someone you know is good at book keeping, someone experienced with filing payroll taxes with the IRS can save you a lot of time and stress.

You need answers...But you want to know what help with payroll taxes there is after the IRS has targeted you. Don't avoid the IRS; show that you're willing to work with the revenue agents. Whether you've made a mistake filing or missed a quarterly payment, pay any amounts owed immediately.

Why is paying immediately so important? First of all interest and penalties start accruing on the debt immediately and that debt can balloon very, very quickly. Secondly the IRS doesn't waste much time with small businesses before they start collection actions. They can shut your business down while they seize assets to pay off your debt if you can't come up with the cash. And you will probably not be able to recover from the loss of production while the IRS collects their due.

Losing your shirt...If your tax problem stems from a crooked partner or accountant stealing or embezzling money you can get help with your payroll tax debt by appealing to the IRS for a Penalty Abatement. If a debt is caused by a catastrophic event that was beyond your control, such as theft or embezzlement, the penalties on the debt can be removed which can reduce your debt by up to 30%. And that could be the help with payroll taxes that you need to make the debt manageable enough to work something out with the IRS.

Now you have the smoking gun...Use it!


Article Source: http://EzineArticles.com/?expert=Richard_Close

At just 20 years old, the Employee Leasing, a.k.a. PEO (Professional Employer Organization), industry continues its steamrolling success at a hefty growth rate of almost 30% per year. Approximately 2.5 million Americans are currently co-employed by one of the more than 400 Employee leasing companies operating in the 50 states.

The reason for this trend is the need to outsource the frustrating "business of employment" tasks- such as hiring, human resource training, payroll, benefits and regulatory compliance. Between 1980 and 2000, the number of labor laws and regulations grew by almost two thirds, according to the federal Small Business Administration. This same study estimated owners of small or mid-sized business spent up to a quarter of their time on employment-related paperwork.

Employee leasing companies assume much of this burdensome responsibility and help businesses comply with all regulations. The employer can then focus on the income-producing areas of the business, where he/she is the expert.

Another advantage of using an employee leasing company is their ability to arrange a business' workers' compensation coverage with major insurance carriers, as well as manage the claims. They also offer human resources services delivered by certified professionals. Most provide services such as customized employee handbooks, recruitment, pre-employment screening, wage and compensation planning, and assistance with job descriptions.

Employee leasing companies help tens of thousands of businesses provide benefits such as health care plans, 401(k) tax-free savings accounts and other perks to their employees. Sponsored benefit programs can include major and supplemental health-care choices, including vision and dental care, employee assistance programs and even adoption assistance. An estimated 95 percent of workers in an employee leasing arrangement have access to a pension plan.

Almost any business can find value in a PEO relationship- clients range from accounting firms and construction to manufacturers and government agencies. The average client is a small business with an average of 19 employees, but some clients have fewer than three employees. Increasingly, larger businesses are signing up, too.

The employee leasing company enables each client company to lower employment costs and increase their business's bottom line. The client can maintain a simple in-house HR infrastructure or none at all by relying on the employee leasing company. Their professionals can provide critical assistance with employer compliance, which helps protect the client against liability. In fact, employee leasing companies have an 88 percent client retention rate due to strong client satisfaction.


Article Source: http://EzineArticles.com/?expert=Mike_Burgelin