Palmetto Payroll is your local source for payroll and back office operations for your business. We pride ourselves on customer service while implementing the very latest in technology and efficiency. Call us today we would love to hear how we can help. We assist more than 300 business owners meet their goals and we would love to help you too.
If you operate a business in South Carolina, you should know about a proposed wage increase announced in the state’s General Assembly on January 12, 2021. Introduced in the South Carolina House of Representatives, the wage increase bill currently sits with the House Ways and Means Committee. The bill to increase the state’s minimum wage…
Are you overwhelmed with spreadsheets, budget reports, and other necessary but time-consuming functions of your business? Maybe you have tried to find time in your day to complete these tasks yourself, but it just isn’t possible. Hiring an onsite bookkeeper isn’t feasible either because you just don’t have the budget for it. At the same…
The Internal Revenue Service (IRS) defines an S-Corporation as an organization that passes credits, deductions, income, and losses through to shareholders for federal tax filing purposes. The shareholders of S-Corps then report income and losses for the business on their personal tax return. One of the biggest benefits of forming S-Corps is that it allows…
Let’s face it, 2020 was a difficult year for everyone. Maybe your company had to send some or all of its employees home to work to help control the spread of the coronavirus. Between the sudden upheaval and financial uncertainty, America’s workers are under stress like they have never seen in the past. The best…
The ability to control your own salary is likely one of the things that drew you towards becoming a small business owner in the first place. Unfortunately, things can get complicated when it comes time to pay yourself. We explore some of the best ways to go about that in this blog. Start by Choosing…
Both individuals and businesses have traditionally used the end of a year to take stock of what went right and what went wrong. They use this information to begin planning for the new year even before it officially arrives. One simple way to start the process is to focus on any changes your company must…
The start of a new year is always a good time for small businesses to consider upgrading their time software. With more employees working at home than ever before due to coronavirus, thousands of small business owners understand that they must have accurate and efficient time software. As a company that has provided payroll and…
As an employer, you must withhold federal income tax and Federal Insurance Contribution Act (FICA/social security) for each employee. You are also responsible for remitting Federal Unemployment Tax Act (FUTA) paid entirely by you. If your state has income tax, you will need to withhold that as well. Unless you do business in Ohio or…
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