The Entrepreneur’s Corner



There have been enough changes to payroll processing and reporting over the last few years to make anyone’s head spin.

COBRA Credits, HIRE Act, the reduction of an employee’s share of Social Security from 6.2 percent to 4.2 percent, the elimination of payments at the bank with the 8109 coupons. The list goes on and on.

Fortunately, there are professionals out there who help guide small businesses through this maze of confusion – third party payroll providers.

Engaging a third party payroll provider can help mitigate risk of non-compliance while decreasing a small business’s overall cost in generating pay checks and originating direct deposits for its employees. In addition to calculating and originating payments to employees, third party payroll providers offer the following benefits:

• Ensuring the timely deposit of all payroll-related taxes;

• Ensuring the timely filing of all payroll tax-related returns, including W-2s and 1099s;

• Reporting of new hires to states;

• Processing of wage attachments such as garnishments, tax levies and child support payments;

• Calculating and reporting of paid time off and other benefits for employees;

• Securing and storing valuable employee and financial data.

Choosing a third party payroll provider to best fit your needs can be challenging, as there are numerous providers with reasonable pricing and generous service offerings. Check with the Better Business Bureau to be sure you choose one with a track record of excellent service and a commitment to keeping client interests first. Ask the third party payroll provider if it has an updated SAS-70 Type 2 Audit. This audit ensures that the proper internal controls are in place and tested with regularity.

The penalties for non-compliance in paying employees and their payroll taxes are substantial. Using a third party payroll provider can mitigate these risks and lower the overall cost of paying employees.

Jeff Crook is the vice president of PayTime Inc., a payroll provider founded in 1993 and located in Henrico County. He is a 2001 graduate of the University of Richmond and resides in Henrico County with his wife and daughter. Contact him at .(JavaScript must be enabled to view this email address) or (804) 612-2803.
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Henrico Master Gardener training program accepting applications through Oct. 27


The Henrico County Office of Virginia Cooperative Extension is accepting applications for its next volunteer Master Gardener training program, which provides instruction in all aspects of horticulture.

Applications for the 2018 training program will be accepted through Friday, Oct. 27. Classes will be held from 9 a.m. to 12:30 p.m. Tuesdays and Thursdays from Jan. 16 through March 22. > Read more.

Henrico Schools to host Oct. 30 job fair


Henrico Schools will host a job fair Oct. 30.

The event, to be held from 10 a.m. to 2 p.m. at the Fairfield branch library, is designed to attract potential full-time and substitute registered nurses, instructional assistants, bus drivers and school nutrition workers. > Read more.

Henrico Police to participate in ‘Tip a Cop’ Oct. 21


Henrico County Police Division and the Virginia Division of Capitol Police are participating in “Tip-A-Cop” to Support the Special Olympics Saturday, Oct. 21.

From 11 a.m. to 2 p.m. and 5 p.m. to 9 p.m. that day at Red Robin, 11784 West Broad Street, members of the two agencies will be working for tips as a donation to the Special Olympics. > Read more.

Participants sought for ‘Walk to End Alzheimer’s’


The Richmond Walk to End Alzheimer’s will be held Saturday, Nov. 4, at Markel Plaza in Innsbrook, and the Alzheimer's Association of Greater Richmond is seeking participants.

The event, one of three walks the association will hold in its service area this year (the Middle Peninsula-Northern Neck walk was held Oct. 7 and the Fredericksburg walk Oct. 14) raises money to help the association fight the disease, which affects more than 26,000 people in the metro Richmond region. > Read more.

Fairfield meeting Oct. 25 to focus on cybersecurity


Henrico County Board of Supervisors Vice Chairman and Fairfield District Supervisor Frank J. Thornton will hold a constituent meeting Wednesday, Oct. 25 to discuss cybersecurity.

Thornton also has invited candidates who will be seeking election to local offices on Tuesday, Nov. 7 to introduce themselves. > Read more.

Henrico Business Bulletin Board

October 2017
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The 25th Annual Math Science Innovation Center Chip In for Education Golf Tournament will be held at The Golf Club at the Highlands, beginning at noon with a shotgun start. The cost is $600 for a foursome or $700 for a foursome plus sponsorship of one hole. Other levels of sponsorship and participation also are available. The event includes a putting contest and boxed lunch. Prizes will be awarded for closest to the pin on two holes; longest drive - men; longest drive - women; straightest drive; and longest putt. The event is sponsored by the Virginia Credit Union and benefits the Math Science Innovation Center in Henrico County. To register, visit https://mymsic.org/index.php/news/golf or call (804) 343-6525. Full text

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