PAYROLL, A REAL THORNY ISSUE
“While good business ideas are plentiful, many entrepreneurs struggle to understand payroll taxes, health care and other thorny issues… In other words, they don’t have the financial literacy to scale their businesses and attract investors.” THIS QUOTE WAS TAKEN DIRECTLY FROM Shark Tank Entrepreneur, Daymond John and Founder of FUBU, titled the Number 1 thing Entrepreneurs need.
This, is definitely one of my favorite quotes and one I use often to promote my business. It is my thoughts and words I’ve said before but spoken by a millionaire so you will respect it.
Payroll, is a thorny issue! There are multiple opportunities to work for one’s self. Businesses are flourishing right now and entrepreneurship is at an all-time high. As exciting as it is to own a business, you definitely want to make sure that the business is profitable, which means employees and payroll.
I wish I was making it up, but payroll is the most misunderstood item for most entrepreneurs.
- They fear paying taxes,
- The software for handling payroll can be costly
- Calculating it isn’t easy
- Shortcuts are always a temptation
- The IRS has specific guidelines for W-2 employees and 1099
- The lack of knowledge for an Entrepreneur easily becomes a problem for their employees
- Even churches find themselves mis-paying the Pastors as well as other employees
- Benefits
- 401K
- Social Security Payments
These are just a few issues mentioned that cause small businesses to be taxed and even closed. You don’t and should undertake to do something that you can hire an expert to handle. Elite Expert is designed to handle payroll for your small business!
Call today 214-930-5986.
Better Business begins with Better Books AND SOLID PAYROLL!
