56: What Every Business Owner Needs To Know About Payroll Whether You‘re Starting A Business, You‘re Self-Employed, A Solopreneur, Entrepreneur, Small Business Owner, Bookkeeper Or Virtual Assistant

2021-11-17

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When you own your own business and you have employees, or you are planning on hiring employees, you need to have a basic understanding of payroll. You must have this understanding whether you are going to process your own payroll, or you are going to hire someone to do your payroll for you. You, as the business owner are ultimately responsible for everything related to payroll in your business. There is a lot to know about payroll, but once you have the general understanding, it is pretty simple to understand. If you have questions regarding payroll for your business, this episode is going to be perfect for you. I am going to cover the essentials that every business owner needs to know about payroll. Have you found yourself asking these questions: What is the difference between an independent contractor and an employee? What are my payroll reporting requirements? How do I know how much to pay my employees? What are the minimum wage requirements? How do I remit my employee’s payroll taxes? What are employer payroll taxes? How do I prepare a W2 for my employee? What is the best payroll solution for me to process payroll? Or, how can the ADP payroll solution help me in my business? In today’s episode, I dive deep into these questions and more. I want you to ensure you fully understand the implications of payroll in your business. If you don’t have any employees yet, understanding how adding payroll to your business will be extremely important. Not only will you have an employee you are responsible for, but the expenses that come along with that employee will definitely have an impact on your bottom line. Whether you are just getting ready to start your small business, you’re a solopreneur, entrepreneur, small business owner, remote virtual online bookkeeper or virtual assistant, I’ll help you understand the basics of payroll. Understanding payroll doesn’t have to be complicated, so let’s get started so that I can break it down and simplify it for you today…

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