With the year 2018 gradually getting closer, the IRS decided to set new limits for next year’s health savings accounts (HSAs). Although they may not be drastic changes, some of these new limits may still influence your finances. See what changes will be made in our new infographic:
Small business owners have a lot on their hands, when it comes to running their business efficiently. From marketing to accounting, the business owner needs to take care of all of the responsibilities required to keep his business afloat. That being said, these entrepreneurs can’t handle all of the business tasks, there’s just too many responsibilities.
Many sole proprietors try to alleviate some of their responsibilities and hire more staff or outsource their tasks. That way, they can focus more on the core aspects of growing their business, instead of the busy-work that needs to get done.
One of the most common problems that small business owners have is their payroll management. Payroll can be a serious nuisance if you’re trying to grow your business, and there are plenty of aspects about it that entrepreneurs can complain about.
But I’ve narrowed down the 3 most annoying payroll issues that small business owners must deal with. Continue reading
A Professional Employer Organization (PEO) helps companies outsource the management of payroll, human resources, employee benefits, and workers’ compensation, so business owners can focus on the core aspects of their business.
Many businesses today need help managing their HR responsibilities and employer/administrative tasks. Luckily, a PEO is able to offer services to assist businesses with these responsibilities by establishing a co-employer relationship with them. With this relationship, business owners will be able to focus on the operational and profit-building side of their company, while the PEO manages their complex employee-related matters.
Let’s be honest. Payroll isn’t the most exciting task that a business owner needs to do. On top of that, it can be a complicated process because of the sporadic changes in tax regulations. That being said, it is still an essential part in running a successful business. But what if I told you that you could still comply with tax regulations, process W2 forms, prepare checks, and complete the rest of your payroll obligations without the hassle?
Luckily, there are various organizations who deal with payroll tasks for other businesses. Whether it’s a payroll firm or a PEO, business owners can outsource their payroll responsibilities, so they don’t have to worry about payroll complications. There are multiple reasons why businesses choose to outsource their payroll tasks, but it’s mostly to relinquish this responsibility and to give it to an expert who better understands the subject.