When a publicist emailed me about National Payroll Week,
I first thought that this is not applicable to some of my readers, but then I thought about how some entrepreneurs still have day jobs, or they have employees.
For employees, you may want to re-allocate your deductions on your paycheck to create a flexible spending plan that works for your health insurance, commuter or dependent childcare needs.
For employers and entrepreneurs, then consider payroll. If you have people performing work for
you but they are really employees rather than “independent
contractors”, then set them up properly to avoid penalties. Some of my
clients have raved about PayChex
for outsourced payroll which is good for very small businesses. You
can also check to see if you bank provides a payroll service. I know
that one of my clients uses Bank of America’s payroll service, so if
you already bank with them, then that may be an option. Find the best
solution for your business, and budget to spend no more than $60/month
on payroll services if you have less than five employees.
With payroll, you also need to have worker’s compensation and disability insurance. Check out NetQuote for business insurance quotes.