Payroll
Payroll Dos and Don’ts – February 2017
Payroll processes are fraught with potential errors, and they can be costly for a small business or an accounting firm managing payroll for them. Here are some tips on what to do, and not do, that can streamline payroll functions and ensure compliance.
Feb. 17, 2017
Dos:
o Review IRS guidance on filing and document prep deadlines (https://www.irs.gov/filing/self-employed-small-businesses)
o During filing season client meetings, review 2016 payroll data and employee classifications
o Prepare your clients for 2017 federal and state tax changes (https://www.surepayroll.com/resources/blog/small-business-tax-changes-guide)
o Monitor employee and wage regulation changes that may affect clients
Do Not:
o Ignore client payroll opportunities during tax time – in-person and high-touch client meetings in the spring can uncover new service opportunities that create recurring revenues all year long
o Pass over non-business clients, who may have household employees or side businesses that require payroll tax consideration
o Allow clients to knowingly misclassify employees
o Miss the chance to do an account review and set goals with each and every payroll client
o Hesitate to ask for client referrals during every client engagement this month, whether it be in-person, via your email signature, or through a concerted referral campaign