Every business knows that payroll is vital to its operation. However, any problems, however minor, could affect virtually every business level. In fact, payroll mistakes are costing businesses thousands annually to rectify.
That’s why it’s imperative you develop a solid tax compliance and payroll processing plan to prevent possible payroll fees and errors. Here are 5 payroll mistakes to avoid.
With technological advancement, more businesses are considering virtual bookkeeping services. For some, the concept of a virtual bookkeeper is scary, while for others, it simply won’t work. For those that entertain this idea, they soon appreciate the benefits of using remote bookkeeping. Virtual bookkeeping permits a bookkeeper or accountant to offer services remotely....
Tax audits can be time-consuming, taxing, and possibly expensive. Small business proprietors who might be navigating complex tax policies for the first time or who work in businesses such as restaurants where errors are easy to make are particularly likely to draw unnecessary attention for the IRS.
An audit doesn’t need to be a painful, endless, and invasive process if you follow these tips.