Jacobs gets contract from USMCJacobs Engineering Group Inc. has received a Joint Equipment Assessment Program contract from the United States Marine Corps worth up to $89 million. (JEC)
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</div>Honda sales plunge 32% in NovemberThe recession continued to make a mark on Honda Motor Co. Ltd.’s sales, which fell by a third in November from a year earlier, the automaker reported Tuesday.
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</div>California?s gas use drops 8%Californians used 8.3 percent less gas in August than they did in the same month in 2007, while gas prices climbed 40 percent in the same time period.
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the checks that can fall in to the hands of check fraud specialists. Check fraud is the largest dollar value crime in the country year after year. The Nilson Report indicates that check fraud exceeds $20 billion dollars a year and the American Bankers Association recently stated that check fraud losses are growing by 25% per year. Payroll processing companies hire specialists to consult about reducing fraud. A good outsourcing company should be able to discuss numerous devices that they use to protect themselves and their clients from fraud.
Tax credits for your employees: The Federal government and many states have set up a large variety of tax credits depending on the employees you hire. This can range from a few hundred to over $8,000.00 per employee. In the convenience store industry the average nationwide is that 20% of employees qualify for one or more of these credits when hired. These are normally direct credits, not deductions, against your federal or state tax payments. If you are not taking advantage of this you should be. A competent payroll outsource company should be able to set you up in a few days and get you started in receiving these tax benefits. In the tax credit industry you should only pay on success. If you do not accrue credits you should not have to pay. Normally you only pay a portion of the credits you earn, making this a no-lose proposition as long as you have a profitable business in which to use the credits.
By outsourcing your payroll with a paperless payroll system you increase your privacy immensely. The only information available is password protected in your computer. If you need to print anything, you print only what you need and destroy it when you are done. No reams of paper, stacks of books, and files for unwelcome eyes to pry through. No huge stack of files to maintain for the government if they decided they want to look at the last four, five or whatever years of payroll.
Technology is now making payroll easier to enter. In the last few years Internet interfaces have been perfected. These let you enter and review your payroll from any Internet connect computer around the world. It is now possible to review, tweak and submit your payroll from the beach in Hawaii or anywhere else! Timekeeping technology is in the same overhaul. Many companies collect time only through electronic means now. This can mean a seamless movement of pay information from the store to the employee bank account without a piece of paper being generated.
A truly professional payroll outsource provider will have CPAs on staff that you can consult with. When you have a complex or unique question about payroll you don’t want a clerk you want a professional. When the IRS sends a notice you don’t want to be told by your payroll provider to talk to your CPA, if he were up to date on payroll, he would be doing it. A CPA at a payroll company deals with the tax aspects of payroll on a daily basis. He should be able to address your concerns and questions and help keep you out of trouble with the IRS.
There are many other issues that can affect your decision to outsource payroll that can be discussed with a payroll provider. Ask about Direct Deposit, Stored Value Debit Pay cards for the unbanked, custom reporting for management purposes, HR compliance issues, pay as you go workers compensation, delivery cost savings, reducing unemployment taxation, child support garnishments, cafeteria plans under Section 125, 401(k)'s and more. All the options above add up to substantial saving of your time as a business manager and will save the business a lot of money as well.
Article Source: http://www.article-matrix.com
Charles J. Read, CPA has been in the payroll, accounting and tax business for 30 years, the last fifteen in private practice. Mr. Read is the author of “How to Start a New Business.” To find professional payroll service at a budget price go to www.PayrollonaBudget.com a paperless payroll company.For a full service payroll bureau with CPA’s on staff visit www.CustomPayroll.com .See an excerpt of Mr. Read’s interviews from William Shatners “Heartbeat of America” television show on the web sites linked above.
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