Payroll Mistakes to Avoid in 2020

People take payroll personally, and you should too!

People take payroll personally. Several benefits come with being a working adult, but the pay is number one. Paychecks support people’s livelihoods. Therefore, you want to avoid making mistakes. Here at Malden Solutions, now only are we experts regarding insurance, but we also have the expertise and tools to ensure that payroll processes go smoothly. Don’t bring these payroll mistakes into 2020. Continue reading to discover what they are!

Improperly Classifying Your Employees 

There is a difference between a full-time direct hire employee versus a contractor. Some employees are exempt, and others are non-exempt. While this doesn’t seem significant, it is. Not correctly identifying your employees could cost a lot of money and make your payroll process more troublesome than it needs to be. Overlooking these details can create consequences with the IRS. Not only could this hurt you, but it could hurt your employees as well. For example, classifying an employee as exempt versus non-exempt could cause them to miss out on pay.

Poor Record Keeping

We cannot stress the importance of having organized, accessible records. Without this, it can cause you to pay people improperly, mix up social security numbers, or neglect to provide essential agencies with the information that they need. Disorganization is stressful. It hurts you and impacts the bottom line of your small business

Trying to Do Everything Yourself

Payroll should not be a DIY project. We understand the value of saving money, but doing things yourself, and then making mistakes is even more costly. If you hire us, we can take care of the hard work for you. Payroll services are time-consuming, and you have to be detail-oriented. That may be hard to do when you have other priorities. Our payroll services are so straightforward that you can’t go wrong. It’s as easy as submitting your employee information over to us via our online portal, phone, or fax. 

Guess what? We even offer tax services. We know that tax preparation is a headache, but we’ll make it a less burdensome task. We can use the Electronic Federal Tax Payment System (EFTPS) to file and submit your taxes. Your small business isn’t a small deal, and we want to improve how you run your operation with our affordable payroll services and tax services. 

Partner with Malden Solutions Today

Malden Solutions has a wealth of expertise in providing employer insurance solutions, HR solutions, and individual insurance solutions to businesses both big and small. Our team of seasoned professionals can help you navigate the rapidly-changing world of insurance with ease. We partner with businesses and individuals throughout the country to provide our dedicated services for employee benefits but also work within our surrounding communities in Maryland, Northern Virginia, and Washington, D.C. Contact us today to learn more about how we can provide effective, dynamic solutions for your business.  Stay connected with us on Twitter,Facebook, and Linkedin.

This entry was posted on Friday, December 6th, 2019 at 9:32 am. Both comments and pings are currently closed.