Page 3 - Payroll

P. 3

Payroll is a seeminglyP

easy chore. You just input the hours
that employees worked into your
payroll software, let it calculate the
taxes to be withheld, click submit,
and sit back. Right??

When a payroll system is set up correctly, it can and should be this easy.
But as the saying goes, "garbage in, garbage out". If an employer or
payroll processor doesn't understand or implement current payroll
laws, then they are opening the company up to liability issues and
penalties that could cripple cash flows and create issues with Federal
and State taxing authorities that are difficult and costly to unwind.

There are payroll systems that make running payroll a breeze and
integrate seamlessly with popular bookkeeping systems. This booklet
gives an overview of some of the basics of running payroll, and some
insight into areas that are often misunderstood, or handled incorrectly.
However, small business owners should always work with a professional
to ensure the set-up is correct and that you are following current
payroll laws.

If you have questions after reviewing this booklet, please contact us.
We would be happy to walk you through any payroll questions you
may have.
Terri Johnson, CPA

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