Payroll 101

If your business has employees, you’ll have to do payroll. There’s no way to avoid it, but what really is payroll? There are 4 basic components to payroll:

1. Paying employees
   • compensating employees for the work they do
2. Withholding and paying taxes
   • both employee and employer taxes
3. Reporting to the government
   • both state and federal
4. Maintaining labor compliance
   • minimum wages, overtime rules, etc.

Proper execution of payroll is a vital part of a business.  Give me a call if we can assist you with an understanding of the processes or the services BakerStarrett provides.