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Co-Employment 101: What Does it Mean for a Small Business?

by Matt SchoolcraftFebruary 22, 2021 8:00 AM

As a small business owner, you’re always trying to find new ways to make your business simpler, safer, and stronger. Co-employment is one way that employers can not only accomplish these goals, but also save time by leaving HR tasks to the experts.

A co-employment relationship with a Professional Employer Organization (PEO) allows small business owners to outsource key HR functions like payroll and employee benefits. While co-employment can help employers free up their responsibilities, it’s not always clear exactly how this relationship impacts a business. Let’s break down what co-employment means and why it may make sense for your organization.

Two hands shaking over a co-employment agreement between a PEO and a small business.

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Human Resources

How to Calculate Payroll Taxes for a Small Business

by Matt SchoolcraftFebruary 12, 2021 8:00 AM

When you own a small business, you have several responsibilities that you need to oversee throughout the year. Payroll tax management is one of the more notable obligations that are on your plate. Unfortunately, it’s not necessarily obvious how to estimate payroll taxes for a small business.

While it’s not the most enjoyable job, it’s critical that you calculate payroll taxes correctly. Every employer must withhold payroll taxes from each paycheck, so proper handling of these deductions is important to both your employees and the government. This responsibility is a lot of pressure for a small business owner who isn’t familiar with how to withhold payroll taxes. That’s why we’ve put together a breakdown of how to calculate payroll taxes for your small business.

A small business owner learning how to calculate payroll taxes. 

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Payroll

Performance Review Best Practices: 7 Tips for Conducting Meaningful Employee Appraisals

by Matt SchoolcraftFebruary 1, 2021 8:00 AM

The employee performance review has been a standard business practice for decades. However, not all organizations recognize that there’s a fine line between a valuable performance review and an unhelpful one. 

When done well, performance reviews are an incredibly powerful tool for driving employee success. When done poorly, they simply waste time and leave employees frustrated. The downsides of bad performance reviews have led some companies to shift away from performance reviews in recent years. However, it’s better to solve these issues than avoid them altogether.

There is immense value to developing an open, honest avenue for managers to discuss an employee’s performance and opportunities for growth. Let’s break down what your business can do to create positive appraisal experiences that drive your employees to succeed.

A small business owner conducting an employee performance review with appropriate best practices. 

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Human Resources

Workers’ Comp Costs: How Small Businesses Can Save Money on Workers Compensation

by Paul AldrichJanuary 27, 2021 8:00 AM

If you own a small business, there’s a good chance you need to carry workers’ compensation insurance to cover any work-related injuries or illnesses. Requirements for workers’ compensation coverage vary by state, with some states requiring businesses with as few as one or two employees to carry workers’ compensation insurance. Applicable companies that don’t comply will face penalties ranging from fines to criminal charges.

Of course, carrying workers’ compensation insurance has some financial challenges as well. Between premiums and other factors, managing workers’ compensation has a direct impact on your business’ bottom line. Let’s break down how workers’ compensation affects your business and what you can do to lower your financial burden.

An employee using safety training to reduce workers’ comp costs and claims for small businesses. 

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Risk Management

Payroll Forms: A Guide for Small Business Owners

by Tim AustinJanuary 13, 2021 8:00 AM

Payroll forms can put a lot of pressure on business owners. When you’re in charge of a small business, it’s up to you to make sure that these forms are not only completed accurately, but on time as well. If you’re not careful, the penalties can range from $50 per faulty form all the way up to hundreds of thousands of dollars for notable violations.

One of the biggest struggles of managing payroll forms is simply knowing which forms apply to your business and what they do. We’ve compiled a list of payroll forms that you’ll likely need to know for your small business and how they work.

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Payroll

Encouraging Positive Mental Health in the Workplace

by Kayla BohuslawskyJanuary 4, 2021 8:00 AM

2020 has brought an abundance of challenges to people all over the world. It seems that when we think that things can’t get any worse, we are hit with another obstacle. With all the uncertainty, lost jobs, illness, and lack of toilet paper, it’s easy to say that this year has been anything but a smooth ride. 

Overall, this year and pandemic has taken a major toll on many people’s mental health and well-being. It is so important now more than ever to be aware of your employee’s health and be sure they are given the necessary resources to live as stress free as possible. 

An employee relaxing to help support mental health in the workplace. 

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Human Resources

OSHA Compliance Checklist: What are My Responsibilities as a Small Business Owner?

by Tim AustinDecember 28, 2020 8:00 AM

Running a business is difficult enough. Keeping track of the Occupational Safety and Health Administration’s regulations makes your job as an employer even more complicated.

It’s not uncommon for small business owners to not fully understand the OSHA regulations that apply to their business – after all, there are a lot of them. However, noncompliance with OSHA regulations can not only put your employees in potential danger, but also lead to costly penalties that will set your business back financially. 

An inspector with an OSHA compliance checklist with requirements for small business owners. 

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Risk Management

IRS Small Business Audits: 9 Red Flags That May Put Your Business at Risk

by Tim AustinDecember 18, 2020 8:00 AM

Managing payroll is no simple process. There are several different steps and responsibilities that you need to address, all of which make managing payroll for a small business both time-consuming and difficult. Of course, that process becomes even more stressful when the IRS comes knocking.

While the overall odds of an IRS audit for a small business is low, there are certain factors that can greatly increase the chances that your organization is targeted. The IRS looks for a variety of red flags to identify taxpayers and businesses that are more likely to have inconsistencies in their taxes. Here are nine small business IRS audit triggers that may increase your odds of an inspection in the future.

A person preparing for IRS small business audits. 

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Payroll

How Much Does a PEO Cost?

by Derek DudaDecember 8, 2020 8:00 AM

It’s no secret that HR management is an extremely complex and time-consuming process for any small business. That’s why many small business owners turn to Professional Employer Organizations (PEOs) to help companies take control of key HR functions like payroll and employee benefits. Of course, there’s one major question for anyone interested in these services: How much does a PEO cost? 

PEO pricing can vary greatly depending on the PEO you work with and the services you need. Regardless of your needs, it’s critical to partner with a PEO that can not only simplify your business’ HR needs, but also save your organization more money than you spend. Let’s break down how PEO pricing works and what you can expect to pay for HR outsourcing.

A notebook containing PEO costs. 

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Human Resources

How to Handle Employees Discussing Politics in the Workplace

by Tim AustinOctober 29, 2020 8:00 AM

As politics become more polarizing, small businesses can get stuck in an uncomfortable position. For every employee who can express political beliefs without creating any issues within the workplace, certain conduct can have a direct impact on your business.

Managing political discussions in the workplace is a tricky balancing act. On one hand, different opinions and an open culture can create new relationships and creative ideas. On the other hand, certain discussions can create animosity between individuals that fractures company morale and impacts productivity. Employers must also consider potential legal protections for political speech. 

With all these factors, it’s easy to view political debates in the workplace as ticking time bombs for your business. Fortunately, there are steps you can take to manage political discussion in the workplace and protect your business.

A group of employees arguing after discussing politics in the workplace. 

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