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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Therapeutic healing


In a room labeled the garden room, a bright space with lavender-colored walls and pebble-gray chairs, art therapist Becky Jacobson might ask her patients to imagine a safe place, but she doesn’t ask them to describe it to her — she wants them to draw it.

The patients are free to draw whatever they envision, expressing themselves through their colored markers, a form of healing through art therapy.

“Some people might not feel safe anywhere because they have had hard things happening to them, and I have the background to help that person reground and feel safe in the group,” Jacobson said. > Read more.

Eight’s enough? Crowded race for 56th District develops


Following the retirement of Delegate Peter Farrell [R-56th District], a number of candidates have thrown their hats into the ring to vie for the open seat in the Virginia General Assembly district, which contains a portion of Henrico’s Far West End.

Democratic challengers include Lizzie Basch and Melissa Dart, while Republican contenders include George Goodwin, Matt Pinsker, Graven Craig, Surya Dhakar, Jay Prendergrast and John McGuire. In addition to a section of Henrico, the district also includes portions of Goochland and Spotsylvania County, as well as all of Louisa County. > Read more.

On the trail to Awareness


Twenty-five teams, composed of some 350 participants, gathered at Dorey Park in Varina April 8 for the Walk Like MADD 5k, to benefit Mothers Against Drunk Driving Virginia. The event raised more than $35,000, with more funds expected to come in through May 7. > Read more.

Leadership Metro Richmond honors St. Joseph’s Villa CEO


Leadership Metro Richmond honored St. Joseph's Villa CEO Kathleen Burke Barrett, a 2003 graduate of LMR, with its 2017 Ukrop Community Vision Award during its annual spring luncheon April 6.

The award honors a LMR member who demonstrates a purposeful vision, a sense of what needs to be done, clear articulation with concern and respect for others with demonstrated action and risk-taking. > Read more.

Glen Allen H.S. takes second in statewide economics competition

Glen Allen H.S. was among six top schools in the state to place in the 2017 Governor’s Challenge in Economics and Personal Finance.

Taught by Patricia Adams, the Glen Allen H.S. team was runner-up in the Economics division, in which teams faced off in a Quiz Bowl. > Read more.

Henrico Business Bulletin Board

April 2017
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Friends of the North Park Library will hold a book sale from 10 a.m. to 5 p.m. A variety of books will be for sale, for all ages, at great prices. For details, call 501-1970 or visit http://www.henricolibrary.org. Full text

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