The Advantages of Payroll

by News Guy on January 18, 2012

(Guest Post)

As your company grows, so does your responsibility to properly compensate your employees for their time and contribution to the company’s bottom line.  Making sure your workers are paid accurately and on time, not to mention the governmental regulations that every business must understand and comply with, can be a real headache, especially for the small business owner.  One in three companies has been charged with a mistake related to their payroll, costing them hundreds of dollars in penalties and fees.

With the tax code becoming more complex every year and regulations changing all the time, it is all a small business owner can do to keep up.  Making sure employees are paid accurately and on time is only half of the payroll challenge.  Taxes and governmental regulations add yet another layer to the complexity of handling payroll.  Do it yourself payroll software is one option, but it takes time to train someone to use it, not to mention an expensive investment in software and printing costs.  Manpower is the most expensive asset for most businesses, so it is a resource best used judiciously.

Fortunately, there is a much simpler, more cost-effective solution.  A freelancer payroll company can save your business both time and money.  By outsourcing payroll, a business reduces liability in compliance matters, as well as freeing up resources that can be better used to build profit.  Compliance with tax codes and accuracy are two of the main reasons businesses choose to outsource payroll operations.  Typically, payroll services offer a variety of services tailored to meet your business’ needs.  Accurate records are kept for tax purposes, employees receive their compensation, paystubs and tax forms in a timely manner, and the payroll company manages the paperwork to make sure that your business stays in compliance with tax codes, saving hundreds or even thousands of dollars in penalties and fees for late filing, withholding issues or other compliance problems.

When choosing a freelancer payroll company, it is important to understand what services you are receiving and what your company’s total cost will be.  Be sure to interview several companies to see which will be the best fit for your needs.  Be sure to clarify such issues as who would be responsible in case of an error, how long reconciling mistakes would take and how much it would cost.  Ask the company for references, preferably from current clients.  Make sure you understand the cost of setting up an account, as well as the prices of services and what your contract will cover.

Payroll doesn’t have to be an accounting nightmare that drains time and manpower away from day to day business.  By outsourcing payroll operations, companies can save time, money and frustration.  A smart business owner understands hiring an expert to handle complicated and time-consuming tasks, such as handling payroll, often reduces the cost of doing business.  The time and money saved every pay period make hiring a payroll company one of the most intelligent investments a small business owner can make.

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Life Insurance for Smokers

by News Guy on January 9, 2012

(Guest Post)

Life insurance can be a complicated subject, however in today’s world it has become a necessity if someone wants the peace of mind that his or her family will be taken care of financially even in the event of an untimely death. It only becomes more complicated for smokers, whom already face discrimination every day from increasingly strict smoking bans from both the Government and most businesses.

As a result, life insurance companies charge higher rates for people who smoke. It varies from company to company, but generally using any tobacco product within the last twelve months qualifies an individual as a smoker for insurance purposes. Sometimes this can include up to the last two or three years, and generally will include cigarette, pipe, or cigar smoking as well as the use of smokeless tobacco products such as chewing tobacco, snuff, e-cigarettes, or even smoking cessation products like nicotine patches, gums, and lozenges. Even non-tobacco products like marijuana and herbal cigarettes are enough to be branded a smoker. Many insurance companies require meeting with an insurance agent and sometimes even a full physical from a doctor, so simply lying on an insurance application is not an option.

Life insurance works like any other type of insurance, such as automotive or home insurance, where a premium is paid to a company by many people, and the company provides money to cover the object which is insured, in this case a human life. The insurance companies would lose money if they had to pay money back to every insured person, so life insurance companies increase the premium rate for those who are more likely to die within the coverage period. People who smoke provide a greater risk for the insurance provider, as smoking can lead to health issues such as emphysema, vascular disease, osteoporosis, and several types of cancer. Life insurance for smokers is risky for any insurer, so the increased rates are necessary to offset the increased number of payouts.

There are many options for a smoker shopping for life insurance. The cheapest but most difficult method is to quit smoking for the period of time necessary to no longer be considered a smoker; this is dangerous as it leaves one without insurance. One option is simply purchasing a less expensive life insurance policy, such as Term Life Insurance Illinois, will allow a smoker to have the benefits of life insurance without the cost of some of the more expensive policies.

Term life insurance policies differ from other life insurance policies in that they insure a life for a specific term, such as ten or twenty years, as opposed to life insurance policies which provide coverage for an entire lifetime, but with a lifetime’s worth of insurance payments. A Term Life Insurance policy could be useful for a smoker who intends to quit eventually, as he or she could pay for a cheaper short-term policy for coverage for the years necessary to quit smoking and no longer be considered a smoker, then purchase a longer-term policy several years down the road at non-smoker prices.

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Is Your Bank Better Than Your Government?

by News Guy on December 27, 2011

(GUEST POST)

A recent survey conducted by The Reason Foundation has discovered that more Americans trust their banks than they trust their government. After all of the Occupy Wall Street and Tea Party movements we have seen over the course of past few years, people would rather turn to Cavalry Portfolio Services and US Bank instead of their nationally elected Senators and Congressmen. American’s have always been highly skeptical of those in power, but this shows that the trust in elected officials has reached a new low.

A total of 72 percent of Americans gave their banks favorable ratings while only 32 percent had a favorable view of the federal government. Participants believed that the government is responsible for getting us into the current economic crisis and do not want them to interfere too much about trying to fix it. They feel that the government can only screw things up more than they already have by sticking their noses into private enterprise and small business.

According to Daily Finance, the survey may be skewed because it was taken by an organization that is known for their hardline Libertarian and Conservative stances on virtually all economic issues. While they do stand to the right, the results were not skewed because President Obama was given a 49 percent approval rating while most conservatives bash his performance at any chance.

This shift in the public’s trust is probably due to the divisiveness of our government. People view the whole system as a convoluted mess and can not find any redeeming qualities in elected officials. While they do not trust Washington DC, the system will not change any time soon because most people have a favorable view of their own elected officials.

Banks on the other hand, work as a neatly oiled machine and are more than willing to help their customers at any given opportunity. Because they run on a for-profit model like an actual business, inefficiencies are eliminated at the first sign of a potential problem. Government simply does not have the same operating standards and has major problems when trying to accomplish tasks.

The next time you are in line at the bank and think you are having an inefficient experience, take a look at government run operations like the DMV or Department of Revenue offices. Banks may not be perfect, but they do excel at efficiency and customer service at a much higher level than government.

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Pickup Truck Insurance

December 8, 2011

(GUEST POST) Contrary to popular belief, there are a few differences between insuring a car and purchasing pickup insurance. The latter takes into account the fact that pickup trucks are usable in various ways, as well as the things that make it differ from a sedan. For example, trucks are used for more business or [...]

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What is a Workers Compensation Settlement

December 7, 2011

(GUEST POST) Workers’ compensation is a topic that too many employees don’t know enough about. People often ask, what is a workers compensation settlement? It is simply an agreement between an injured employee or dependents on a claim for workers’ compensation from an employer. The agreement, which may also be known as a workman’s compensation [...]

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What Over 50 Life Insurance Options Do You Have?

November 30, 2011

If you are in the over 50-age bracket, life insurance is an investment in the security of your family. Death can have catastrophic consequences for those who depend on you. This is especially true if you are self-employed and uninsured. The good news is that there are affordable options for you, regardless of your age. [...]

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