May 28, 2019
In this episode, Cadie Gaut enlightens us on the importance and benefits of outsourcing your company’s payroll services. She and Karen walk us through what to look for in a reputable payroll processing service, what questions to ask them, and how to get the most out of a payroll company once you have hired the one that fits your needs. Processing payroll is a necessity in running a business, not to mention you need to be compliant with federal, state, county, and city laws. Payroll processing doesn’t generate revenue, and it can cost you the valuable time you need to spend on working on your business by putting out new job bids, producing new products or services, and collecting those past due invoices. So, grab your favorite beverage and join the Cheers ladies as they give you a roadmap for streamlining and strengthening your business by helping you find your “best fit” payroll provider.
Payroll Vault - payrollvault.com
Have more questions? Contact Cadie at 251-243-0902, or email her at firstname.lastname@example.org
Shareable & Quotables
Payroll processing doesn't generate money; it actually costs you the time you could spend on putting out bids for new jobs, or collecting past due invoices from customers or clients.- Cadie Gaut
Payroll processing is a way for Payroll Vault to help other business streamline their business. - Cadie Gaut
Sometimes the cheapest option isn't the best option. At the end of the day, it's how much value your payroll company is going to provide to you?
I think the biggest thing that is not utilized enough, especially for small business, is electronic timekeeping. - Cadie Gaut
Electronic timekeeping is much more employer-friendly if ever a Department of Labor audit was to come up. There's a digital trail, and it's a lot more accurate than handwritten time cards. - Cadie Gaut
Most of the time, when you're outsourcing your payroll, you're going to be charge per payroll. - Cadie Gaut
A good payroll company will manage your payroll taxes. Each payroll they're drafting the taxes so that they can pay them on your behalf. So there are never any late fees. - Cadie Gaut
A good payroll company will manage your payroll taxes, plus health insurance, retirement, and garnishments. They are taking care of those on your behalf if you want them to. - Cadie Gaut
In the case of an emergency like a hurricane or flood, payroll goes on. Payroll doesn't stop. We have the ability to work remotely, so life goes on. - Cadie Gaut
If an employee was misclassified as a contractor, you could owe those back taxes, along with penalties and interest. - Cadie Gaut
The IRS has a 20-factor test to help determine someone's classification. If you're honest with those questions, it should help you classify whether they're a sub or an employee. - Cadie Gaut
If you doubt if a contractor is an employee, then they're most likely an employee. - Cadie Gaut
People are terrified to change payroll companies, but it's really easy, especially if you're moving to a good payroll company. - Cadie Gaut
We recommend an in-person appointment if you do have questions, or want to start services. We need to find out exactly what you need. There are questions that we need to go through to make sure that it's a good fit. - Cadie Gaut
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Learn more about Karen Simmons & Cadie
Karen C. Simmons, P.C.
Payroll Vault - Mobile & Baldwin Counties