The Entrepreneur’s Corner
The Benefits of a Third-Party Payroll Provider
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.
Henrico's Lewis Ginter Botanical Garden is one of only 20 gardens in North America nominated for USA Today’s “10Best Reader’s Choice” contest for Best Public Garden.
The 20 public gardens nominated are:
• Bloedel Reserve, Bainbridge Island, Wash.
• Brooklyn Botanic Garden, Brooklyn, New York
• Buthcart Gardens, Victoria, B.C.
• Callaway Gardens, Pine Mountain, Ga. > Read more.
Photo by Patty Kruszewski/Henrico Citizen 02/24/2014
The Fifth Annual Henrico Police Athletic League (PAL) Award Banquet, held Feb. 6 at The Cultural Arts Center at Glen Allen, honored HPAL’s top volunteers and employees, including Morgan Lewis, Youth of the Year; Dale Alexander, Volunteer of the Year; Lowell Thomas, Employee of the Year, and Victor Williams, Board Member of the Year. Also honored for their support were Jim and Christi Dowd of Richmond BMW and Josh Davis of Henrico County Public Schools Pupil Transportation.
Keynote speaker for the banquet was Tim Hightower, a University of Richmond alumnus and former NFL running back. Hightower was introduced by Billy McMullen, former NFL player and a Henrico PAL board member. > Read more.
The Pocahontas Chapter of the National Society Daughters of the American Colonists, based in western Henrico, last year donated more than $1.3 million worth of manufacturers coupons to U.S. military personnel overseas. Throughout 2013, members and friends of the chapter clipped 952,349 manufacturers’ coupons valued at $1,350,630, which Program Chairman Carole Featherston shipped to U.S. military bases abroad. Military personnel can use the coupons when shopping in base stores.
The National Society Daughters of American Colonists is a women’s genealogical and patriotic society whose members are descended from a man or woman who rendered civil or military service in any of the American colonies prior to July 4, 1776. > Read more.
But animated South African film has its moments
You might have seen something called Khumba while clicking through a Redbox recently (or perhaps it was nestled in some hidden corner of a DVD sale shelf). And chances are, you passed it by without much of a thought. Makes sense; that goggle-eyed cartoon zebra on the cover (a zebra that’s dangerously close to becoming Madagascar copyright infringement) doesn’t inspire much confidence.
But when Khumba starts up, it looks nothing like you’d expect. The camera gazes across the savannah and the soundtrack swells with triumphant South African vocals. > Read more.
If you’re looking for a date night with someone special, Henrico is the place to be! Check out a classic 90s movie, “My Girl,” at Henrico Theatre; Circa, an innovative circus from Australia, will dazzle at the University of Richmond; and celebrate TGIF at Keagan’s Restaurant where the PJ Bottoms Band is performing. For all our top picks this weekend, click here! > Read more.
Abstract paintings of Inge Strack (pictured) are on display through March 9 at the Gumenick Family Gallery at The Cultural Arts Center at Glen Allen. Strack, a Chestefield painter of German origin, often paints in bold colors with a deep sense of emotion, focusing on brushstrokes, texture and form to find a balance. Strack’s painting is routed in the European tradition of expressionism but has found its own, unique language in following the American dream.
“I am not attempting to abstract the physical world," she said. "I draw my subject matter from inside of myself hoping to create a constant conversation between the viewer and the painting, especially since abstracts do not seem to answer but ask.” > Read more.
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