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 School Board selects redistricting Option E


JUNE 23, 10:30 A.M. – The Henrico County School Board Thursday concluded its latest redistricting process by selecting a plan for middle school redistricting that will impact a number of students in the western and northern parts of the county, as well as a few in Eastern Henrico.

The process sought to reduce overcrowding at Hungary Creek Middle School, create room at Wilder Middle School for a gifted academy and address the poverty level disparity among some middle schools. It will impact about 775 students, according to school system officials. > Read more.

‘Senior Cool Care’ program to help older adults in Metro Richmond


For the 27th year, Senior Connections, The Capital Area Agency on Aging is helping older adults combat summer heat through a program now called "Senior Cool Care" (formerly the Fan Care program) that provides fan and air conditioning units for eligible senior citizens.

The program is available to low-income older adults age 60 and older who reside in the City of Richmond and the counties of Charles City, Chesterfield, Goochland, Hanover, Henrico, New Kent and Powhatan. > Read more.

Cyclist killed in crash was 52-year-old man

Henrico Police have named the victim killed June 21 when the bicycle he was riding collided with a truck on Mechanicsville Turnpike near I-64 in Eastern Henrico.

Fifty-two year-old Ray J. Freeman, of Richmond, died at a local hospital after being struck. The truck that hit him was traveling south on Mechanicsville Turnpike. > Read more.

Henrico man sentenced to 10 years in prison for dealing heroin

A Henrico man was sentenced June 20 to 10 years in prison for distribution of heroin.

Arlando Harris, 35, pleaded guilty on Dec. 29, 2016. According to the statement of facts filed with the plea agreement, Henrico Police executed a search warrant at Harris' mother's residence in Henrico on March 16, 2016. > Read more.

Glen Allen HS student earns playwriting residency


A play written by a Glen Allen High School junior was selected, along with seven others, to be performed professionally this summer through a nationally acclaimed Virginia high school playwriting program.

47B, a play written by 16-year-old Glen Allen High school student Dominique Dowling, was chosen by New Voices for the Theater, a playwriting competition sponsored by the School of the Performing Arts in the Richmond Community, from a pool of more than 150 plays by high school students in the state. > Read more.

Henrico Business Bulletin Board

June 2017
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The Roots, Rhythm, & Soul Tour – featuring Roosevelt Dime, Harry Jay & The Bling, and Jenna Lotti – will perform at 8 p.m. at The Tin Pan, 8982 Quioccasin Rd. Roosevelt Dime combines the feel-good groove of classic Rhythm & Blues with acoustic Americana instrumentation. Harry Jay & The Bling are a contemporary R&B/funk group located in Boston, Mass. Jenna Lotti is a pop soul singer-songwriter from Boston. In 2013, she created a successful Kickstarter campaign which led to the creation of her debut album “Tunnel Vision.” Tickets are $10 in advance and $15 at the door. Doors open at 6 p.m. For details, call 447-8189 or visit http://www.tinpanrva.com. Full text

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