Payroll is an essential component of every business, large and small. Once you have made the decision to hire your first employee or employees, it is inevitable that you know how to do payroll properly. However, the truth of the matter is, payroll processing is not as straightforward as you may wish it is. It comes with multiple components such as tax calculations and deductions. Proper processing of the payroll requires a sound understanding of all applicable Federal and State tax laws. All these can make your head spin while shifting your focus from what really matters – growing your business.
To get the burden off your shoulders, we have put together the following guide to help you understand how to do payroll and identify an intuitive payroll system for your small business. The guide comes with payroll’s best practices that will help any small or medium business make important decisions in critical areas like choosing the right payroll processing method, timekeeping system, payment method, understanding and filing payroll tax forms among other features. Continue reading