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.
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…
This year has been challenging for everyone, including your employees. As many businesses continue to operate under coronavirus restrictions, it seems that employee relations are more important than ever. Even though you want to show your employees how much you appreciate them, few employers have extra money in the budget this year. The good news…
If you’re considering starting a business, you may wonder if you need to initially register it as a Limited Liability Corporation (LLC). The answer to that question is no. However, forming an LLC may be beneficial to you depending on the size of your new business. Below we explore more of the benefits and drawbacks…
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