Great Ways To Handle Payroll For Your Company

payrollHandling payroll in Los Angeles can be challenging when overseeing a large number of employees. There are several qualities necessary for a payroll manager. This individual should be highly educated in the laws of payroll as regards to employment taxes, employee garnishments, and the distribution of employees’ checks. How to handle this process may vary from individual to individual and business to business. The best thing is to understand a few tips when it comes to being a payroll manager. This professional is a person who must be detail oriented, a self starter, and organized.
The first step to being a great manager is to understand each employee’s individual needs. Knowing each person’s withholdings may vary but the formula stays the same. Obtaining the proper tax forms from the employee during the hiring is vital for processing payroll. A great tip is to create payroll packages. This will eliminate the possibility of forgetting to obtain important information. Another tip is to make a cheat sheet, in order, to make sure that dependents are calculated correctly in the company’s software. It is nice to have fancy software, but human error can overshadow the benefits.
Take a test run. Set the settings according to governmental regulations and the company’s guidelines. Manually, work an employee’s payroll to double check that the proper settings are being used. It is only necessary to complete this step once. Financial software is very instrumental in providing accurate numbers; however, it is very important to double check the information that is inputted into the software. Many companies utilize payroll software because it is more efficient than manually calculating payroll (income, withholdings, and benefits) for a large group of employees. This is why it is very important for the professional to be organized and set aside additional time to ensure that the information that was input is correct. The slightest change in numbers can drastically alter an employee’s withholdings. One of the greatest tips is to input then recheck. Rechecking will reduce the risk of errors.
It is very important to understand employee garnishments. Many employees will have garnishments for several different reasons (court judgments and child support). A garnishment folder can be very helpful to double check withholdings have been made and sent to the proper places. Be sure to double check payroll checks for garnishments. It can be very damaging to an employee and the company not to properly garnish payments. These are obligations that have been court ordered. Failure to pay can be damaging to the employee and require them to make extra payments later. Catching errors may be one of the biggest roles of a payroll manager. The best way is by being detailed oriented, double checking work, and stay organized. Do not procrastinate. This is not a job that can be rushed.

How to Help Overcome the Compliance Conundrum that May Plague your Business

Government regulations are important to help companies stay with in the lines of the law.  Yet these regulations seem to always be changing or evolving.  With so much confusion and companies simply just trying to react to the regulations, the people at ADP felt it was important to make this info graphic to help clarify this information.  See if it helps shed some more light on the situation.

ADP Conundrum Final

Write a Business Plan and Create Success

If you have ever watched Shark Tank, you know that people that go in without a business plan get torn apart and usually dont get an offer.  Similarly, small businesses seeking investments and overall success need a direction and this comes from a written plan or business plan.  With 49% of small businesses failing in the first 5 years and 60% of all small businesses not using business plans, make sure that you have all the right tools for success before you continue to venture on in your business endeavors.  Take some advice from Business Plan University and the info graphic they put together to express this.

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Keeping your Employees Cool in the Office

employee in officeThe heat of the summer is quickly approaching. It won’t be long before the sweltering sun is here and your office is too hot for your staff. Many research studies have shown that employees who are able to work in a comfortable environment perform better and are more productive. If the office is 80 plus degree and they have sweat pouring down their backs they aren’t going to get anything done and may be more tempted to call in sick so that they don’t have to endure the misery of being uncomfortable. Fortunately, there are many simple solutions for making your office environment more comfortable for your employees this summer.

One solution is to allow staff to dress down during the summer. If you normally require workers to wear suits, ties, and pantyhose then you might consider letting them dress a bit more casual during the summer months. Your workers will appreciate the change and will also be grateful that you care about them on a personal level.

Another idea would be to purchase either blinds or thermal based black-out curtains. The blinds or curtains will help to keep the freezing cold out during the winter and will keep the scorching heat out during the summer. Another added advantage is that the sunlight won’t create an annoying glare on computer screens or cause headaches to those who have to stare at a glared screen all day.

Using fans is another practical solution. Installing ceiling fans may be a little bit costly at first, but they can be used during the winter and summer to help circulate the air. Also, you could purchase small fans for employees that can be plugged into a computer’s USB port. These fans not only keep the employee cooler but they also keep the computer cooler as well. Also, if it is cool outside you could put a fan in the window and blow cool air into the room. Similarly, if it is hot in the room then just place the fan in the window so it blows the hot air outside.

Some employers choose to rent a chiller from http://www.chillcoinc.com/ . Chillers come in a wide variety of sizes depending upon the size of the room that needs to be cooled. Most HVAC companies have chillers available for use. Chillers are a great way to save money because you won’t have to install air conditioning. You can simply rent a chiller for the few months of the year that it is really hot and then return the chiller during the cooler months.

Keeping cool during the summer doesn’t have to leave you broke if you use these simple tips to help keep your office space comfortable during the summer months. Not only will you save money but you will also help to increase employee productivity.

Starting an Investment Real Estate Company

NewHome2Investing in real estate can be a very profitable investment that can pay off significantly over time. There are many benefits from owning real estate but some of the primary benefits are the predictable cash flow, the power of inflation which lowers mortgage payments but provides for rising rents, and the ability to scale real estate to many different sizes.

If you are interested in purchasing real estate but do not have sufficient capital to make the acquisition by yourself, in may be worthwhile for you to start a real estate investment capital. The first step is to determine your capital needs and pacific palisades real estate can help you. What size building and level of real estate are you planning on purchasing and what are your capital requirements as a result of this anticipated purchase? If a building requires a smaller amount of capital that requires a smaller number of partners, then it most likely makes sense to create a partnership or limited liability company (LLP) to hold the property. LLCs and partnership are not taxable entities for federal purposes and income is taxed at the shareholder level. This provides for a more tax-effective structure for raising capital then a corporation that is hit with double taxation. In addition, LLCs and partnerships are not hit with the same restrictions and filing requirements that publicly real estate investment companies are (as discussed below).

If, however, significant amounts of capital are needed and you are considering turning to public methods to obtain the financing, then the structure of your organization will either be a corporation or a publicly traded real estate investment trust (REIT). A corporation is beneficial for some investors in that dividends are taxed at lower interest rates for qualified dividends (15%). However, REIT structures are more commonplace for real estate investment companies as REITs are not taxed on the corporate level in a way similar to partnerships and LLCs. A REIT is required to distribute 90% of its distributable income to shareholders and this is taxed at your ordinary income rate (no 15% exception for distributions). This can be beneficial to some investors but harmful to others. As such, when starting a real estate investment company you should be aware of the tax implications of your corporate structure.

Once the structure of the real estate investment company has been determined, the next step is filing the appropriate paperwork to register your company. State and federal requirements vary, but generally involve filing a form with the taxing authorities. Once this has been completed, you can move towards purchasing the property and work towards securing financing. Be sure to research the capital requirements for real estate Investment Company financing as banks require different down payment amounts for investment companies as opposed to individual owners.

Running your Business’s Website

webmaster-tools1Your ability to pick the best web hosting service for your needs will determine your success in running the website for your business. You should try to make your business website into something that drives revenue towards the company. Your business could benefit from getting a few extra dollars. If you don’t run an organization that uses the internet for its sole means of making money, you might have a harder time driving in some extra cash. At the same time, through advertising and affiliate marketing, you can turn your website into a mechanism for success. All you have to do is come up with a model that incorporates this aspect into your website while also preventing it from detracting from the overall goal of presenting what the company has to offer. Your website can’t be too complex. It has to present a representation of your company and that’s about it. Anything else is fluff that should be subtracted from the situation.

As your business website continues to remain online, you have to keep going back to it to make sure that it’s doing its job. The main thing that you should focus on is search engine optimization or SEO. Individuals assume that the first posting in Google is the one that’s going to offer the best possible things to anyone can visit. If this is your business, you’re the dominant force that everyone else needs to defeat. The further back you are in rankings on Google the more individuals are distrustful about your site. You should continue to tweak your content to make it more search engine friendly. The top spot is the only one you should consider. It’s much more difficult to get there when your site is optimized for a keyword that has a high level of competition. If your website continues to fall through the ranks, you should try to add more websites to the mix that are able to promote it. Google uses a variety of methods to rank the websites that come up in their search results. You have to be aware of these methods if you want to become a success in the long run.

Every business has to have a social media page. This destination will give everyone who uses social media a place to go when they’re idly bopping about. These potential customers are going to look down on your business if you’re lacking the right social media presence. You can’t be too in their face with your postings because that could lead to them considering you a spammer. Any company that earns the reputation of spamming their customers is not going to have a good reputation for long. You have to try to slowly build your social media following by having people come to your pages through your main website. Eventually, you will find that this part of your business becomes somewhat of a self-sustaining organism. You can continue to revisit it to make sure that your customers are updated on your progress.

Keeping your Business Secure

Photo-ID-CardsIn this day and age, with all of the threats that companies face as the result of the internet and other offline sources, you have to go the extra mile to ensure that your business is secure. It all starts with the entrances in your main physical location. All your employees need to have name badges. As your business grows larger, it’s much harder to keep track of the people who work for it. When you use name badges, you will be able to tell all of the people coming into your business apart. Any visitors have to wear their own badges to separate them from the rest of the batch. To expedite this process, your company should consider investing in an ID card printer from NYC. This expense might seem insurmountable at first, but when you dig a little bit deeper, you will find that the value of this system will pay for itself in the long run.

Once you have figured out the necessary protocols to seal off the entrances to your business, you have to then move on to what occurs within your location. Each particular area in your building might be reserved for certain people. As a result, you might want to invest in security doors to distinguish where employees can go based on their level of clearance. This measure would require the presence of another badge. It’s important to minimize the amount of badges that each employee has to ensure that your security process will operate at the highest level of efficiency. You have to have someone in place at each security checkpoint to guarantee the validity of each individual security badge. Occasionally, an employee might use another employees badge to try to get somewhere they don’t belong. There should be absolutely no leeway on this rule. If someone doesn’t have the proper identification, they should be prevented for going to certain places.

Any company that works with computers has to have security protocols in place every step of the way. Every piece of information starts at the server level and goes to the computer that attempted to access it. At this point, your server should process it and kick it out before it has a chance to infect all the computers on the network. Sometimes the server can be compromised, which essentially creates a free-for-all for any infection that happens to make its way in. All of the computers have to have their own security system and firewalls to prevent the infection from taking out every computer. This process to keep potential spyware and virus infections at bay is an endless one. You have to keep evaluating the strength of your system to ensure that it’s doing the right job. Unfortunately, when you find that some part of your system has been infection, it’s likely too late. Your preventative measures will ensure that your machines will remain operational for many years to come. More often than not, you will have to fight to keep hackers away from your information.

Costs You May Not Have Thought of for Your Business

business_expenseRunning a business can be a lot of work, and there are all kinds of hidden fees that you may not have originally thought of. The longer you run a business, the more you realize that there are things that need to be paid for that might never have made it onto your business budget until you came across the need for them. When you are in charge of the financial department of a company, no matter how small, you need to anticipate unexpected expenditures like this. If you are planning a company budget, here are a few areas of your business that you might not have thought would add additional costs to your business.

While office supplies are often accounted for in a company’s general budget, there are number of supplies that you might need for your office that may not fit in the typical office supplies category. Depending on your specific work situation, you may be responsible for the restrooms in your office. If you are, then you will have to account for the amount of money it will cost to provide bathroom necessities such as toilet paper, paper towels, and hand soap. You will also need to hire workers to clean this area. These workers will require appropriate compensation as well as various cleaning agents. These are all expenditures that you might not fully anticipate at the beginning of your company’s use of these office and restrooms.

Marketing and advertising are essential to any company, but the amount of money that it might cost to implement some advertising ploys may not be fully comprehendible. While every business has to advertise and network in order to gain business, not every company does so in the same way. Smaller companies often have to implement the most creative tools in order to advertise. Putting your company logo and name on coffee mugs, t-shirts, and lanyards is a great way to get your company’s name out there. Distributing these small tokens can also be costly. In addition to using these items for advertising, you can implement them into your employees’ work days. Filling the office kitchen with coffee mugs that have the company logo on them is a nice touch. Requiring workers to wear company lanyards and t-shirts to work is a great way to keep the dress standards at work consistent with company policy.

Various unexpected costs can come up all the time in companies. Lawsuits are becoming more and more frequent among small business owners, and investing in a good business lawyer to protect your company against such ploys is a smart idea. Hiring a lawyer will also come in handy if an employee lawsuit is filed against your company.

Keeping Your Employees Safe At Work

safetyOnes employees safety is very important because this reflects on how much one cares about ones company and customers. There are many different things that one can do to make sure that ones employees understand that one cares about safety and that one makes it a priority. One easy way to start is by going on to the OSHA website and see what is required of one to do and what recommendations are on there too.

There are many things that one can purchase to start such as safety signs that can let employees know that they need to slow down in certain places, that there is an emergency exit, that a certain area is always wet etc. One can also purchase things such as flags, cones, helmets, safety glasses, gloves etc that will help make sure that ones employees have all of the tools that they will need to stay safe. One should also make sure that ones employees understand the importance of working safely and that they know what is expected of them. They not only need to know what is expected of them but also what the consequences are to jeopardizing their own or others safety.  They need to know that some safety violation can lead to write ups or warning and that others can lead to termination. To make sure that they clearly understand one should have them sign a paper stating that they do so there can’t be any excuses.

There are some employees that will feel that the new safety rules are dumb and a waste of time but one has to remind them that it might feel that way but that is only because they have never been seriously hurt doing the said action compared to others who might have been saved from an injury if they would have followed the rules. But no matter who is complaining and how much they are complaining one needs to remember that one is the boss and the one who sets the rules and that if they want to jeopardize their own and someone else’s safety then their services are not needed there anymore.

One should also make sure that ones employees can easily access the safety guidelines in case they are unsure, and one should also let them know that they can always report employees that are not following the safety guidelines which then means that they do not value the safety of their coworkers. When setting new safety rules it might take a little bit for employees to get used to it but once they do it will become second nature to them and one feel better that they are all working in a safe environment.

Best State for Business and Careers

With a title like “Best Snow on Earth”, Utah has gained a great reputation with the winter vacationist.  But maybe Utah has earned itself a new title.  Forbes Magazine has named Utah the “Best State for Business and Careers” three years running.  With a name like that and great snow, it might be in you and your companies best interest to make a move or add a new location.  With cost for business 10% below the national average, and the cost of living being 6% below the nation average see why from Utah Life Elevated‘s info graphic they feel it is the best place for businesses.

UTAH INFO GRAPHIC