PROCESSI NG TIPS ALL ENTREPRE NEURS SHOULD KNOW
Whether you’re handling payroll yourself, you’ve got a team taking care of it or you’ve outsourcing payroll services team, every entrepreneur should stay on top of their company’s payroll processes.
1. CHECK HOW EMPLOYEES ARE CLASSIFIED When it comes to your requirement to pay overtime, you must be able to differentiate exempt from non-exempt employees, and that comes down to how your staff members are classified in your payroll processing system.
2. Make Sure You Collect Even if you’re just putting and Pay Taxes your business together and you don’t know all of the nuances of entrepreneurship, you must comply with all government regulations about tax collection and payment.
3. STAY ON TOP OF CHANGING REQUIREMENTS As important as it is to comply with all laws and regulations regarding payroll processing, it’s just as essential to pay close attention to these rules, since they do change regularly.
5. GO DIGITAL â—? The more of your paperwork you can handle digitally instead of via paper, the more efficient and streamlined your processes will be. â—? Not only does reducing paper allow you to save the environment and get organized, it can also save you a significant amount of money.
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