The Payroll Book: A Guide for Small Businesses and Startups is the summation of 40 plus years of payroll experience mostly with small businesses. From a Controller to a business owner to owning a payroll service bureau, I have processed tens of thousands of payrolls for thousands of companies over the years. I have the professional qualifications to go with the experience that includes being a Certified Public Accountant (CPA) for over 40 years and I am a United States Tax Court Practitioner which allows me to represent clients in U.S. Tax Court without being an attorney. As a member of the Internal Revenue Service Advisory Council, I meet with the IRS to help provide real-life recommendations to IRS problems or concerns.
All the information presented in this book is general in nature and you need to have specific situations looked at by your trusted advisors.
Payroll is vital to Federal Government operations. Over 70% of all the revenue collected by the IRS comes through payroll either as withholding or payroll taxes.
In addition, the IRS issues over six billion dollars a year in employment tax penalties on businesses large and small. Forth percent of small businesses get penalized every year with the average penalty approaching $500. However more than half the penalties get abated, I will show you how in Chapter Six.
Payroll is an integral part of your business. Do it wrong and it can cost you everything. There are lots of complexity to payroll that I will step you through and try to keep you out of trouble with tax authorities, and keep your employees happy as well.