Payroll Processing Archives - Palmetto Payroll Solutions

Company Culture Human Resources Outsourced Payroll Payroll Processing Small Business

Why Is Personal Service Important for Small Businesses?

As more businesses go digital, it's easy to forget that your customers and employees are humans that need that personal touch. Personal service is one of the first things that gets sacrificed when it comes to running a modern business. This is especially true when transactions can be completed without talking to an actual person. Did you know that…

Palmetto PayrollNovember 3, 2021

Accounting Reporting Small Business

Your Fiduciary Responsibilities When Offering 401(k) Employee Benefits

The Internal Revenue Service (IRS) defines a fiduciary as a party that owes a duty of care to another party and must act in their best interest because of this. If your company offers a 401(k) retirement savings benefit to employees, the actions required to manage the accounts involve fiduciary responsibilities. This is true whether…

Palmetto PayrollJuly 16, 2021

Accounting Outsourced Payroll Payroll Processing Payroll Tax Responsibilities Small Business Time Keeping

Receive The Maximum Benefits From Your Payroll Provider

Whether you are searching for a company to perform payroll services or have worked with the same provider for years, you need to ensure you are getting the most for your investment. This blog explores questions to ask your current or potential payroll provider to give you peace of mind that your company is receiving…

Palmetto PayrollJune 14, 2021

Human Resources Outsourced Payroll Payroll Processing Payroll Tax Responsibilities Small Business

Outsourcing Payroll Brings a Quick Return on Investment

Small and mid-sized business (SMB) owners often feel caught between a rock and a hard place when it comes to payroll. On the one hand, the task is taking up too much staff time. At the same time, owners of SMBs may worry about the cost of outsourcing payroll and entrusting another party with the…

Palmetto PayrollMay 30, 2021

Accounting Outsourced Payroll Payroll Processing Payroll Tax Responsibilities Small Business

Review Your Balance Sheet to Determine the Health of Your Business

How healthy is your business? Fortunately, the answer to this question is as simple as looking at its balance sheet. According to the Small Business Administration (SBA), a company’s balance sheet includes its assets, liabilities, and each owner’s share of equity as of the date of preparation. The owner’s share of equity should be the…

Palmetto PayrollApril 30, 2021

Payroll Processing Small Business

How Should You Pay Yourself as a Small Business Owner?

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…

Palmetto PayrollJanuary 2, 2021

Outsourced Payroll Payroll Processing

Understanding Federal Regulations for Retaining Payroll Records

As a business owner, the Internal Revenue Service (IRS) expects you to keep hard copies of certain records for several years in case it needs to see a copy of something again. Fortunately, you can scan the original item and store it on a computer to save space if necessary. From the standpoint of the…

Palmetto PayrollNovember 15, 2019

Payroll Fraud

Tips to Prevent and Uncover Payroll Fraud Schemes

In 2017, the Association of Fraud Examiners stated that the average time from when an employee engages in payroll fraud schemes until someone detects their actions is 24 months. The organization also reports that nearly 25 percent of American businesses experience some degree of payroll fraud every year. Even if your small business has never…

Palmetto PayrollAugust 28, 2019

Company Culture Employee Onboarding Small Business

Save Time and Money to Reduce Employee Turnover

While employee turnover is a reality in your life as a business owner, it's still costly and disruptive. You must spend time and money recruiting, hiring, and training a replacement while your current employees potentially take on a larger workload until the new hire is up to speed. Identifying your company's weak spots and developing…

Palmetto PayrollJuly 10, 2019

Outsourced Payroll Payroll Processing Payroll Tax Responsibilities Small Business Taxes

Determine Your Payroll Tax Deposit Schedule to Meet IRS Requirements

The payroll process involves much more than just adding up an employee's work hours and determining the amount of his or her paycheck for the period. You must also withhold payroll taxes along with any voluntary withholdings the employee authorizes such as premiums for health insurance. Additionally, the Internal Revenue Service (IRS) and state governments…

Palmetto PayrollApril 16, 2019