Any small business owners here?

[AZSnake98]

Going to be starting my own company with 1-2 people on payroll to start. I've been doing research on how to keep track of the payroll, w-2's, taxes, and payroll check system and thought I'd ask around and see if anyone has any pointers for someone just getting started.


Any and all help would be greatly appreciated.

 

[thepizz]

Use a payroll company. It saves time, money, and takes the tax computing of your hands. I use ADP. 38 employees receiving weekly checks, delivered every Tuesday costs me $43 a week.

 

[AZSnake98]

Use a payroll company. It saves time, money, and takes the tax computing of your hands. I use ADP. 38 employees receiving weekly checks, delivered every Tuesday costs me $43 a week.

Really it's that cheap? So for 2-3 employees to start it should be close to nothin... I'll look into that. Thanks!

Any other advice is greatly welcome. This is one of those topics where no ammount of information is enough.

 

[thepizz]

They handle payroll taxes, deductions, quarterly reports, and W2/W4.

What type of biz?

 

[AZSnake98]

Residential and commercial painting and handyman services. I'm just tired of doing all the work and the owner getting most of the cash. Hehe.

 

[TorchedCobra]

Residential and commercial painting and handyman services. I'm just tired of doing all the work and the owner getting most of the cash. Hehe.

Hire them as independent contractors, give them a 10-99 and they can pay their own taxes.

 

[Camaro_94]

I own a small business but don't have any employees. Can't help with any of that payroll stuff, but good luck with everything though.

 

[Wishing4Cobra]

My previous company used ADP as well, their a huge payroll company but didnt realize it was that cheap. Wow.

 

[Screw-Rice]

Hire them as independent contractors, give them a 10-99 and they can pay their own taxes.

This is what I am doing. I don't have employees, just 1099 contractors. Saves me money and headaches.

 

[TorchedCobra]

This is what I am doing. I don't have employees, just 1099 contractors. Saves me money and headaches.

Amen to that.

 

[thecrimson]

What do u guys all do?

 

[TorchedCobra]

I own an entertainment rental/advertising company.

 

[Screw-Rice]

Commercial/Residential pressure washing. Started as a side business but if some contracts go through, will be looking at doing it full time.

OP- Since your business is contract work I would go the 1099 route myself. Employees mean a lot of payroll deductions, would be a different store if you had a restaurant or something like that.

 

[cobrakidz]

Definitely use a payroll company, one of the best things we did as far as the "office" was concerned.

 

[TorchMach]

Use a payroll company. It saves time, money, and takes the tax computing of your hands. I use ADP. 38 employees receiving weekly checks, delivered every Tuesday costs me $43 a week.

+1

ADP is the same company we use...no complaints either.

 

[TorchMach]

Residential and commercial painting and handyman services. I'm just tired of doing all the work and the owner getting most of the cash. Hehe.

Just read this. 1099 them.

 

[TorchMach]

What do u guys all do?

I can't tell you.

 

[Machdup1]

Use a payroll company. It saves time, money, and takes the tax computing of your hands. I use ADP. 38 employees receiving weekly checks, delivered every Tuesday costs me $43 a week.

This. Then get a booking keeper to handle your books leaving you free to concentrate on new business development and project completion.

 

[prostkr]

The 1099 route is nice. In the early days it will give your guys a bigger paycheck, this will make it easier on you should you need to not work them every day of the week. I have used payroll company's and have had as many as 7 guys on it. Its expensive and you need to make sure your money coming in is on time every week. The workmans comp is what kills you. I was doing trim carpentry in buildings not over 2 storys tall residential I paid 18$ per hundred just for the comp. Average payroll was 4k a week, that equaled 720$ a week out of my pocket just for workmans comp insurance. Another way to figure it, I Found with 5-7 guys in construction my out of pocket expense was 6-7$ per hour per man. With as slow as it is now, 1099s are the way for me to go.

 

[ff500]

Hire them as independent contractors, give them a 10-99 and they can pay their own taxes.

This is what I do, its easier.