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- How the Cost of a CPA Compares to Payroll Companies
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- How to Pick the Cheapest Payroll Service
- 7 Things I Didn’t Know When I Started Forex Trading (Avoid My Mistakes)
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| How the Cost of a CPA Compares to Payroll Companies Posted: 30 Oct 2021 04:11 PM PDT Halloween Sale! Buy 1 get 10% off, Buy 2 get 15% Shop Now https://www.dresslily.com/promotion/Halloween-pre.html Hot deals ,ALL $12.99 Hot deals ,ALL $9.99 Hot deals ,ALL $6.99 ------------------------------------  When it comes to processing your business’s payroll, you have several options. You can do it yourself or outsource the task by hiring a certified public accountant (CPA) or a payroll company to manage it for you. While both outsourcing options can complete your payroll accurately and on time, CPAs and payroll solutions provide different levels of service. Before you hire anyone to help you manage your finances, it’s important to understand how you’ll be charged, where hidden fees may lurk and what you can get out of each option. To ensure you know what you may be paying for, here’s a breakdown of what the best payroll services and CPAs do and how much they cost. How much do payroll companies charge?The cost structure and pricing for basic payroll depends on factors such as how you want to pay employees and in how many states your company operates. The benefit of this is that most businesses can find a service that fits their budgets. Businesses should expect to spend anywhere between $15 and $200 per month for a quality payroll service. What is a payroll company?Payroll services offer financial management support by helping employers compute their employees’ pay and payroll withholdings. They can come in the form of self-service software or a full-service company. Payroll functions include collecting employee wage and timesheet data to calculate gross wages, then subtracting withholdings and deductions to compensate employees through printed checks or direct deposit. They can also manage employee tax filing information. How is payroll pricing structured?Just as each business is different in the way it operates, each payroll service structures its pricing differently to fit the needs of its consumer base. Base feeMost payroll services charge a base fee. This can be a monthly charge or a per-payroll fee. With the latter, you are charged the base fee each time you run payroll. So, if your company pays employees every two weeks, you pay the base fee every two weeks. If you run payroll weekly, you pay the fee each week. Base fees can run anywhere from $29 to $150.
Per employeeIn addition to the base fees, there is typically a per-employee charge each month or pay period. These fees typically range from $2 to $12, depending on the service. Payroll providers often offer multiple service plans with different features and services. This gives you the ability to find a plan that fits your budget and needs. MonthlySome basic payroll processing services have a monthly subscription plan. With this option, they charge a set price for an unlimited number of employees. This option may have more restrictions on features, but it can be a good choice for small businesses, since smaller teams often don’t require as many features. You can read our review of Gusto to learn more about a company that offers monthly subscription plans. Set feeSome payroll providers have a set fee structure they publish online. This is particularly common among DIY services designed for smaller companies where employers have more responsibility in monitoring and inputting data for payroll processing. These services can cost as little as $65 per month, depending on your number of employees. Custom quoteOther services provide a custom quote for your business based on the specific payroll functions and features you need. The number of employees you have and how often you run payroll will factor into the quote. How many states you operate out of and what method you use to pay employees (e.g., direct deposit) can also impact how much you pay. Our review of ADP found that it provides custom quotes for each business. License feeIf you are looking for DIY payroll software that you install on your own computers or access online, you may have to pay a license fee for it. This may be charged either as a monthly subscription or as a perpetual license fee, which is a one-time payment. It usually costs more upfront than a monthly subscription, and there may be annual upgrade costs as well. Do payroll companies have hidden fees?Although no one pricing structure works best for all small businesses, it’s important to understand exactly what you’re paying for and what it covers. Here are some fees to watch for when you’re choosing a payroll provider.
Editor’s note: Looking for the right online payroll service for your business? Fill out the below questionnaire to have our vendor partners contact you about your needs. Which features might be worth the cost of outsourced payroll?Tax protectionsOne of the benefits of outsourcing your payroll is the tax guarantee that most payroll services offer. If the company makes a mistake on your taxes, it will correct the error and pay any resulting fines. They also keep you up to date on any changing tax laws and liabilities, and make sure your business is always compliant. Additional HR servicesIn addition to paying your employees and managing payroll taxes, many of today’s payroll companies offer a host of other HR services that may be worth paying extra for. These include time and attendance tracking, benefits administration, and retirement savings plans. Having a payroll service handle all of these tasks takes additional responsibility away from the employer and allows them to focus on bigger-picture issues. Employees can also benefit from having all of these services bundled together, as it allows them to track their hours and access benefit and retirement information in one location. When it’s not worth the costThat said, it’s important not to overbuy on features if you may not need or use everything the program has to offer. Matthew Venuto, regional sales manager at ConnectPay, told business.com that a full HR suite is the most common feature that small businesses purchase unnecessarily from their payroll providers. Given how expensive it is to tie all of those services together, it’s important to only add that feature on if you know you’ll make the most of it. Do payroll companies offer any discounts?As a small business owner, you can save a lot of money by asking about the onboarding process. Before you purchase anything, ask the provider if any discounts are available for signing up with a certain number of employees, or if they are willing to match the price of a cheaper payroll service you found. You may also be able to save money by agreeing to an annual contract instead of paying month to month. Should you sign a payroll contract?If you can help it, avoid signing up for payroll software or services with long-term contracts unless you’ve mapped out all payments and you are comfortable with what you’re paying, satisfied with the quality of the service you’re receiving, and confident that you will be happy working with this company for an extended period. “Check out the surface model, security and how it runs,” Venuto said. “Ask about your access to payroll specialists and whether they’re well versed with tax laws in your state. Do your research.” Before you make any agreement, read your contract thoroughly to make sure it doesn’t have built-in price increases. Contract length can vary, but you’ll want to find out if the contract automatically renews. It’s also important to understand how the cancellation process works so you don’t get stuck or heavily charged when you’re ready to close your account. Find out how much notice you must give, and any cancellation costs the company may charge. Beware of signing any contract that has a liquidated damages clause, as it can be very expensive to get out of. Also, look into the company’s employee onboarding process and see if there’s a free trial so you can take the service for a test run before you commit. Do CPAs offer payroll solutions?A certified public accountant is a financial advisor who helps businesses, entrepreneurs and other organizations map out their finances and reach their fiscal goals. “I would never say payroll replaces CPAs,” said Sara Menke, CEO of Premier Talent Partners. “But they can complement one another because [payroll companies] don’t offer the same work as an accountant.” CPAs can do more than handle your payroll records. They offer tax and accounting consultations and help you make financial decisions. And yes, they can be very helpful when it comes to payroll processing and administration. A CPA will ensure your team is paid on time and your retirement withholdings are properly deducted, and they can handle your payroll taxes. They can also keep track of payroll reports, expense reimbursements and profit-sharing disbursements.
“They provide an extremely high level of service to a small business owner,” Menke said. “It’s not just bookkeeping and the incoming and outgoing of cash management and investments; it’s future strategy. We do a really good job of keeping clients compliant.” A CPA can also act as a bookkeeper, collect accounts receivable, send out invoices and pay your vendors. How much do CPAs charge?The average rate for CPAs, as reported in a survey by the American Institute of CPAs, ranges from $160 to $275 per hour; however, that price can vary based on factors such as the CPA’s knowledge and experience, your business’s location, and the size of your company. Because of their level of expertise, a full-time dedicated CPA can be expensive to hire, so most small and midsize businesses work with CPAs on an hourly or project basis. Typically, CPAs bill clients on an hourly basis, but fixed fees are becoming more common. Many people are opting for fixed-rate plans to get the services they need within their budget. With more custom options now available for managing payroll, CPAs are adjusting their services to better serve small businesses. What do I gain from hiring a CPA rather than an accountant to process payroll?Sure, you could hire an accountant to run payroll, and it would cost less, but you should understand the difference between accountants and CPAs before making this decision. With a CPA handling your payroll, your business will be in good hands. CPAs can ensure the following and more:
Although both accountants and CPAs have a strong understanding of accounting, CPAs receive more in-depth and rigorous training that drills tax law and standard accounting practices into their expertise. They are also held to ethical standards by the state and must take courses in order to keep their licenses. What are the disadvantages of hiring a CPA to manage my payroll?While having a CPA manage payroll can be a great strategy for your business, there are some disadvantages of hiring one:
Outsourcing your payroll to a CPA can be expensive, depending on the number of employees you have, your tax situation, the services you need and where your company operates. If cost is a concern, it may make more sense to outsource the task to a payroll services company and then consult a CPA on taxes and your business’s more complex financial needs. CPAs can be a big help come tax time, but some businesses may find that the extra fees a CPA charges cost more than they anticipated. For example, some CPAs charge a fee if a service needs to be expedited, if a client provides incomplete information, or if the client submits information later than requested. It’s important to know what services are covered, and what is considered an add-on service that will cost more than you budgeted for. CPAs can help in other waysJust because a CPA isn’t the right choice to handle payroll for your business, that doesn’t mean you can’t consult one on other matters. For instance, if you are thinking about acquiring, merging, selling or closing your business, a CPA can help you make a quality decision. They can guide you through the tax implications and financial documents, help you analyze assets, prepare final reports and statements, and provide a thorough report of the fair market value of the business. Simone Johnson contributed to the writing and research in this article. Source interviews were conducted for a previous version of this article.
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| His Biggest Ah-Ah Moments in Forex Trading | #TraderTips Posted: 30 Oct 2021 03:40 PM PDT
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// You Might Also Like… // SOCIAL // TRADING MUST-HAVE RESOURCES // MUSIC // ABOUT ME I blog at www.desiretotrade.com and host the Desire To Trade Podcast. I was fed up with the "fake" millionaire traders and the "get-rich-quick-trading guys". That’s why you can expect more free content from me than what other people charge for! If you truly want to succeed in Forex trading, I believe you need to keep working on yourself so you can improve your strengths, but also your weaknesses. Do not focus solely on what you’re good at. // Disclaimer AFFILIATE LINKS source Click to rate this post! [Total: 0 Average: 0]  | ||||||||||||||||||
| Trading Pro System – Stock Market Options Trading Education Posted: 30 Oct 2021 03:35 PM PDT
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| How to Know a Business Investor Is Offering a Good Deal Posted: 30 Oct 2021 03:09 PM PDT Halloween Sale! Buy 1 get 10% off, Buy 2 get 15% Shop Now https://www.dresslily.com/promotion/Halloween-pre.html Hot deals ,ALL $12.99 Hot deals ,ALL $9.99 Hot deals ,ALL $6.99 ------------------------------------ Every business needs funding to launch and grow. Often, that funding comes directly from the founder or a business loan. For some businesses, though, getting to that next level requires the help of a business investor. That avenue can be rewarding but carries unique challenges of its own, starting with finding investors and then successfully courting them. However, the biggest challenge is securing a favorable deal that positions your business for future success. Whether you choose to court venture capitalists, angel investors or crowdfund your investments, you need to recognize a good deal from a bad one to avoid getting burned. A bad investment deal at the outset will inevitably cast a long shadow over the life of your business, so choosing the right partner and establishing the right terms is key. This guide will help prepare you to court business investors and land an investment deal that will be mutually beneficial and help you grow your business into a success.
Editor’s note: Looking for a small business loan? Fill out the questionnaire below to have our vendor partners contact you about your needs. What is a business investor?A business investor is someone who provides you with capital and expects financial returns. An investor can be a person, firm,or mutual fund. Some common types of startup investors can include personal investors, angel investors, venture capitalists and peer-to-peer lenders. How to find business investorsUnless you already have a business investor or group in your network, it can be difficult to know where to begin. There are a few steps you can follow to find the perfect investor for your business. 1. Define what “the perfect investor” looks like to you.Before you start searching for angel investor groups or venture capitalist funds to contact, it benefits you to sketch out what type of business investor you are looking for. Remember, an investor is as much a partner as they are a source of funding; you need to choose the right one, and that requires planning. “If you are an entrepreneur who is interested in raising capital, the first thing you must do is to ‘design the perfect investor,” Nicole Toomey Davis, a serial entrepreneur and business coach, told business.com. “Once you can clearly design the perfect investor for you and for your business, then you can identify – and pitch to – only those who are already interested in your type of business, your location, and the amount you are trying to raise.” That might only be a few dozen individuals, she added. Narrowing your focus in this way ensures relevancy and makes getting in front of these targeted business investors much easier. Further, it is easier to keep them engaged with your pitch since they are already your target demographic. 2. Start networking to find potential investors.To identify investors that fit your persona, you have to network. This could involve joining trade organizations or business associations, as well as exhibiting at trade shows. It can also involve cold calls or sending an executive summary of your business to investor groups you’ve identified as suitable for your business. 3. Stay diligent until you find the right fit.Stay diligent, even if you don’t get any bites at first; networking is often a numbers game. Once you get your foot in the door with business investors that match your persona, you have an opportunity to secure their funding and partnership. The different types of business investorsThere are several kinds of small business investors, each of which is best suited to fund businesses in different circumstances. Depending on your preferences and needs, you might find that venture capital is best for your business. Or perhaps crowdfunding platforms offer you the deal you need. You can determine this when designing your investor persona. Here’s a closer look at some of the most common types of small business investors:
Whether you partner with investment firms, private investors or a large group of crowdfunding microinvestors, pursuing investment opportunities offers an alternative to securing funding from financial institutions or taking on debt. How to secure an investmentOnce you create an ideal business investor persona and identify investors who fit the profile, you’re ready to move on to the next phase, which is securing the investment. 1. Create a clear, yet descriptive, pitch.The first step to securing an investment is to come up with a compelling pitch. However, there are many elements to creating an effective pitch. For example, an investment pitch and associated pitch deck should be a short, punchy presentation that conveys both the premise of your idea and the value, with numbers to back it up. Investors hear from a lot of entrepreneurs, so you need to make your idea stand out with a brief but effective pitch. 2. Provide potential investors with concrete, numerical projections.Generally, pitching your idea isn’t enough; you need to offer concrete, numerical projections that are grounded in reality to really captivate people who are considering investing in your business. After all, why would someone purchase private equity without a clear road map as to how and when they would receive a return on their investment? 3. Be persistent and learn from each pitch.You might have to pitch many investors before you are offered a deal. Keep at it, and try your best to analyze what worked well and what didn’t after each pitch. Use that knowledge to improve your pitch and continue reaching out to potential investors until you finally secure the right investment.
What makes a good investment deal?If you create a detailed investor persona and an effective pitch, eventually your hard work will pay off, and you will be rewarded with an investment deal. However, not all investment deals are created equal. How can you tell the good from the bad? Don’t just jump at the money. Stop to think about where the deal in question can get you down the line and how it might influence the overall growth of your business for the long term. A balance of equity and controlPerhaps an investment deal will support the creation of full-time jobs you need to drive your business forward. But if it comes at the cost of giving up a majority stake in your own business, is it worth it? Money is important in business, but, ultimately, what matters is equity, or your stake of ownership in the company. When an investor chooses to fund your business, they’re buying equity of their own; that gives them influence over how things are done. For many small business owners, retaining control is a top priority. “A good offer from an investor leaves plenty of equity in the hands of the founders – preferably with little or no vesting,” Toomey Davis said.
Fair and reasonable termsIn addition to maintaining the right balance of equity and control, small business owners should pay attention to their investment terms and ensure they are fair and reasonable. Consider how an investment deal takes employees into account. Any clauses about how profits are distributed in the event the company is sold should also be closely scrutinized. “[A good investment offer] includes a pool of options for current and future employees, and it doesn’t include ratchets or extreme preferences that take all the profits when the company is sold,” Toomey Davis said. “As an experienced entrepreneur and entrepreneur coach, I recommend entrepreneurs make sure they are getting a reasonable salary as part of the deal and that they invest alongside their investors to get the same preferences that investors are getting.” Honesty, transparency, and legal soundnessSecuring an investment deal isn’t just about the money. An investor in your business is a partner, so you should always start with a relationship based on trust. Look for honesty and transparency when courting investors, and trust your instincts. “Good and fair investors want to reduce risk and earn a healthy return by being sure both sides of the deal are legally and fiscally sound upfront,” said Baron Christopher Hanson, lead consultant and owner of RedBaron Consulting. “Good and fair investors want you and your team to operationally and sustainably run an excellent business that makes customers happier than your competitors. Good and fair investors want to be paid out fairly and via healthy dividends, profits, or interest – and, yes, a little more if things are late, behind schedule or not exactly to plan.” “However, good and fair investors will never try to slit your throat, make huge fees upfront by brokering your deal to others or charge such a high cost of capital that your business chokes a slow and painful death whilst they bask on a yacht,” Hanson added. How to avoid a bad investment dealPerhaps more important than spotting a good investment deal is avoiding a bad one. Look for red flags when discussing any potential terms with a business investor and take the following steps. Have your team review the terms of the deal.Your team of professionals and advisors should always review any deal before you sign. They are your team for a reason, and their input could raise questions that would otherwise go unaddressed. Any investors who try to prevent you from collaborating with your team should not be trusted. “Any investor who coerces you or bullies your business plan into working with their advisors and legal team only – usually under the guise of saving money and time – should be shown the door,” Hanson said. Avoid unreasonable ROI demands.Investors expect a return on their investment; it’s why, after all, they are investing in businesses in the first place. However, small business owners need to understand what reasonable expectations are and what are just greedy money grabs designed to pull the rug out from under founders. “It is not unreasonable for an investor to get back their invested capital and a reasonable return upon a sale before the common shareholders get paid, but terms that insist investors get multiples of their investment back (i.e., two or three times their investment) just about guarantee nothing for founders,” Toomey Davis said. Avoid excessive fees or commissions.If you are looking for investors, be sure you are talking to someone who is ready to write the check themselves. Plenty of middlemen and brokers will attempt to insert themselves into the process to siphon off funds in the form of excessive fees and commissions. “Any seemingly high fees or commissions or ‘points’ just to raise or broker initial and subsequent funds upfront – especially from ‘other investors in their exclusive network’ – is typically suspect and nothing more than a dangerous broker situation,” Hanson said. Beware of “vulture investors”.Not all investors operate in good faith. A true business investor wants you to succeed and will work with you to craft a mutually beneficial deal that supports your business’s long-term growth. Another class of investors, called vulture investors, are more interested in creating untenable situations that result in their takeover of your company. “Be very wary of vulture investors who prey upon entrepreneurs by drafting dangerously strict repayment terms, deadlines or sums – usually in exchange for seemingly low interest rates. Their goal is for you to default so that the business or property or creative recipe becomes theirs by your default or inability to meet their doomsday deadlines,” Hanson said. Watch out for swindlers.Not everyone who poses as a business investor is interested in investing. Some people are just out to secure sensitive information about your business so they can use it against you in the marketplace. Carefully vet anyone you are considering pitching. Make sure they are who they say they are and that they aren’t involved with any of your competitors. “Not every investor is what they seem. Watch out for people posing as investors, who are actually swindlers, working for your competitors,” said Marsha Kelly, president at Best 4 Businesses. “They are trying to get inside information about your marketing strategies, suppliers and financials, which they plan to exploit. Research all investors thoroughly before you share proprietary information about your business operation.” Finding the right business investor to fund your business can be a challenge, but it is well worth it when a fair deal is reached. Partnering with a business investor in good faith can get you the much-needed funding to launch and grow your company in a way that will ensure success for years to come. Additional reporting by Skye Schooley. Some source interviews were conducted for a previous version of this article.
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| Forex Strategy For Small Accounts! (INSANE-COMPOUNDING-STRATEGY) Posted: 30 Oct 2021 02:38 PM PDT
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Disclaimer: Trading FX and futures is not appropriate for everyone. Trading and investing involve substantial risk of loss. You should trade or invest only using risk capital – money you can afford to lose. No representation is being made that utilizing the referenced strategy or trading robot will ensure profitable trading or freedom from risk of loss. Some or all of the referenced trades may not be actual trades and instead could be hypothetical trades or simulated trades. Hypothetical or simulated performance is not necessarily indicative of future results. Hypothetical performance results have many inherent limitations, such as the costs of commissions or other fees. Because the trades underlying these examples may not have been actually executed, the results may understate or overstate the impact of certain market factors, such as lack of liquidity. Simulated trading results in general are also designed with the benefit of hindsight, which may not be relevant to actual trading. Hypothetical trading does not involve financial risk, and no hypothetical trading record can completely account for the impact of the financial risk of actual trading. The strategy producing the referenced performance may have made or lost money before or after the referenced trade(s) was/were executed, and the referenced trade(s) may not necessarily be representative of the average subscriber's experience or performance utilizing the strategy. No representation is being made that you will achieve the same or similar results as the referenced results. The performance referenced in any testimonial may not be representative of all reasonably comparable accounts, and although Blue Edge believes the information contained in the testimonial is accurate and reliable, Blue Edge has not independently verified the accuracy. source Click to rate this post! [Total: 0 Average: 0]  | ||||||||||||||||||
| How to Pick the Cheapest Payroll Service Posted: 30 Oct 2021 02:07 PM PDT Halloween Sale! Buy 1 get 10% off, Buy 2 get 15% Shop Now https://www.dresslily.com/promotion/Halloween-pre.html Hot deals ,ALL $12.99 Hot deals ,ALL $9.99 Hot deals ,ALL $6.99 ------------------------------------ Operating a business comes with many costly expenses, but hiring a payroll service doesn’t have to be one of them. Many of the best payroll services for small businesses are affordable. Just because you’re looking for a budget-friendly payroll processing service doesn’t mean you need to settle for a bare-bones solution. On the flip side, paying more for payroll processing doesn’t always mean you’re getting the best value for your money. You can find options that fit your budget and match your business’s model and expectations when you know what to look for and what to expect from a payroll processing solution. Editor’s note: Looking for the right payroll service for your business? Fill out the below questionnaire to have our vendor partners contact you about your needs. Cheapest payroll providersIntuitIntuit is a global technology platform that offers QuickBooks, an online payroll and tax service for businesses of all sizes.
QuickBooks Online Payroll has three plans that cover payroll processing and payroll tax preparation: Core, Premium and Elite.
It also offers three desktop payroll plans: Enhanced, Assisted, and Assisted + QuickBooks Enterprise Diamond. You can learn more in our complete review of QuickBooks Payroll. RipplingRippling is a company that has produced a uniquely user-friendly employee management software platform. It also has HR and IT software products, including payroll processing software designed to make the administrative work of running a business more efficient.
Rippling offers custom pricing based on the services your business needs, but plans start at $8 per month per employee. GustoGusto boasts an all-in-one HR platform, which includes payroll processing services. It currently serves more than 100,000 businesses all over the world.
Gusto has four available service plans: Core, Complete, Concierge and Contractor.
You can learn more in our comprehensive review of Gusto. ZenefitsZenefits is a software technology company that provides HR and payroll software to small and midsize businesses.
Zenefits Payroll must be purchased as part of a larger suite of HR software, which has three pricing plans: Essentials, Growth and Zen. The Essentials plan costs $8 per employee per month. The Growth plan costs $14 per employee per month and is useful for a growing business. The Zen plan costs $21 per employee per month. Meanwhile, Payroll is an add-on and costs $6 per employee per month. How much does it cost to have a payroll service?There’s a wide range of payroll service costs, depending on the features you need and the number of employees you have. Other factors include how many times your employees are paid, whether you pay by direct deposit, how many of your employees live out of state, and the tax filing services you use. You can also buy a monthly subscription at a set rate or pay per payroll run. The set rate is typically the payroll base fee plus the per-employee fee. In our testing to find the best online payroll services, we found base fees ranging from $29 to $150 and per-employee fees from $2 to $12. What makes it cheaper?Like more expensive options, cheaper payroll services are usually automated and can help you transform hours of work into minutes – which saves you money as well as time. However, a cheaper payroll service may lack some of the nicer features that more expensive plans include, such as overtime hour calculations, tax filing, reimbursement payments, commission calculations or any service that goes beyond the basic needs of payroll management. If you choose a cheaper payroll plan and the company offers these services, you may need to pay an additional fee to use them. What are the advantages of a cheap service?An advantage of using a cheaper payroll service, besides the lower cost, is the quick access you have to your information. Cheaper services are usually software or apps that you and your team can manage yourselves, eliminating the middleman. This is especially useful when you discover mistakes that need immediate correction. What are the disadvantages of a cheap service?It’s difficult to find a cheap payroll that offers automated tax filing and service deals, which are typically a bundle of features for a set price. A cheaper service may take more manual operation to process your workers’ hours. Sometimes updates about new hires or terminations are also manual, which can eat up your time. It’s uncommon for cheap payroll services to offer assurance checks – double-checking your payroll information to ensure it’s accurate. You probably won’t have access to the additional HR services and benefits that higher-priced suites offer either. What are the cheapest options for payroll services?Small businesses typically operate on a tight budget – especially when they are starting out. The last thing you want to do is sacrifice quality payroll service because you’re a little short on cash. If you can’t afford the costs of hiring and training HR specialists to run payroll, or if you prefer to outsource it, you have several options: Remember that free or cheaper options may be missing a few features. Lack of customer support or inconsistent payroll reports can be a problem with cheap options. Is payroll software a good cheap payroll option?Do you know what’s cheaper than payroll services? Payroll software. If you find that even the cheapest payroll services are bleeding your wallet dry, payroll software may be for you. You can manage, organize and compute your employees’ payments with this software. It holds all your payment records and is more affordable than payroll services. Benefits of payroll softwarePayroll apps automatically calculate taxes based on state and federal regulations. The software also manages deductions and calculates the taxes for payroll, Social Security and Medicare. As an employer, you want to avoid violations and fees. Payroll software helps you electronically file W-2, W-4, 1099, 1095 and any other payroll forms you’ll need for your business. Payroll software gives you and your team more payroll management freedom. You can address mistakes quickly without going through someone else. You can monitor your information from your phone. No middleman or third-party user means fewer people have access to your company’s private information. It’s also easy to calculate bonuses and PTO and to automate end-of-year reports. Are bookkeeping services an affordable payroll option?A bookkeeping service does what an in-house bookkeeper or accountant would do. This service handles your transaction coding, accounts payable, accounts receivable, payroll and financial reports. How to choose the right bookkeeping serviceBefore you pay for a bookkeeping or accounting service, inquire about the company’s payment structure. Are there annual fees? How long does it take to process your company’s data? How much experience does the company have in employment law compliance, and how often will someone from the company check in with you? With an outsourced service, you may not have as much interaction or communication with the company as you’d like, so it’s important to understand what you are getting into before you decide to work with one. Is a payroll processing company affordable?A payroll processing company handles your payment of wages to your employees by providing payroll and HR operations management. How to choose the best payroll processing processorDo your research on a payroll company before hiring it to manage your company’s data, said Rick Fish, a payroll professional certified by the American Payroll Association. Ask for references. Remember your company’s needs and evaluate whether the payroll provider matches your expectations. Look into the company’s credentials and see if it has experience working with a company like yours, Fish said. To avoid using the wrong payroll processing company, there are several things you should make sure the company manages and offers. At the very least, the company should automatically run and calculate payroll for each pay period. Inquire about the level of contact you’ll have with the payroll data and what the process of gaining access to your data is like. Does it take a couple of business days? Are there many forms to fill out or steps to take beforehand? Check if the company offers tax filing services, like managing deductions and W-2 and 1099 forms for employees. Does the system flag issues, and how does the company notify you of those issues? Does it send alerts for employee benefits eligibility or overtime? “Make sure you have a way of confirming your taxes are being filed [in a] timely [manner],” said Alexia Matak, sales and marketing director at Payroll Experts. Matak also encourages business owners to find out who is liable for payroll errors, because it’s usually themselves. “Be careful of companies that say, ‘We’re taking full responsibility,’ because payroll taxes are the biggest liability.” Analysis reports are a good way to get updates and information on your company. It is also important to have the function of PTO requests and a web-based system so you can check in when you want. It’s good to get references for your prospective payroll providers before hiring one. You should also take advantage of free trials so you know what to expect and can assess the service’s reliability before you pay. Understanding the service your payroll processing company offers is key to saving money. Asking the right questions will help you avoid paying added fees later. What are the benefits of payroll processing companies?Many U.S. businesses outsource their payroll responsibilities to payroll processing companies. Here are four of the benefits payroll processing companies may offer. SavingsA payroll processing company shifts some of the administrative weight off your shoulders. Payroll sometimes needs to be reviewed more than once, so outsourcing this task can save you time and money. Instead of spending funds and effort on calculating wages; printing, signing and sending checks; and preparing and paying payroll taxes, you can hire a payroll company to handle all that for you. This gives you more time to work on your actual business operations. In addition to being a timesaver, outsourcing is a safer option. Payroll processing companies have features like backup systems and multiple servers to keep your company’s information secure. Compliance with tax lawsKeeping up with compliance can be a pain, especially with payroll tax laws constantly changing. With a payroll processing company by your side, there is no need to keep track of those regulations, because your provider does it for you. As a result, you maintain compliance with laws and avoid violations and fees. Feature flexibilitySome features of affordable payroll processing companies allow you to add payroll services through your accounting software. You can also choose how much service you want based on your budget and business – full-service or self-service payroll or anything in between. Automated paymentsSame-day direct deposit is another service payroll companies offer; however, Fish warns employers not to get swept up in the “same-day pay” craze if it’s not something you need. Some companies also provide flexible payment options, like automatic payroll processing for salaried and hourly employees, and varied payment schedules like weekly, biweekly and monthly. They can also set up automatic adjustments for tips, child support or other court-ordered deductions. What are the disadvantages of payroll processing companies?Vendors with a one-size-fits-all pricing system do not consider your company’s size or specific needs in the price. You might not need all the services they provide in their base plans, which could feel like a waste of money. See if you can cherry-pick what you like and just buy what works best for you. The tricky thing about dealing with a payroll company is that it might offer a really low price, but only at first. Before you partner with the service, do your research to avoid sneaky added fees. Sometimes prices are subject to change after a year, so look out for that. Regardless of the service, a payroll processing company is a separate entity that handles your company’s information. For the same reason, if you need to correct a payroll error, your payroll processing company may not respond as quickly as you like. How does a PEO affect your payroll?PEOs work specifically with small and midsize companies. They manage payroll taxes, HR operations and benefits through a co-employment model. Your employees will be on the PEO’s books, but still under your management. If you need to outsource other HR tasks, like administering benefits, a PEO might be a cost-saving option for you. If the company you use also offers payroll, it may be convenient and cost-effective to add these services to the ones it already performs for your business. What are the advantages of full-service payroll?A full-service payroll company is typically larger and operates almost like a tech company, said George Kocher, CEO of Brand North. Processing companies can offer a platform for time tracking and time-off requests through easy-to-use smartphone applications. “Because of their size, they also have strategic relationships,” Kocher told business.com. “For instance, they might be able to help you create your HR handbook and have free access to online hiring platforms or even attorney services.” Although full-service payroll companies are usually larger, they can provide dedicated payroll specialists to assist you. A full payroll service also provides flexibility for submitting payroll information. You often have the option of submitting it by phone or email at any time of the day. Many companies offer automated tax filing, and some even give you access to other HR and benefits services. What are the disadvantages of full-service payroll?A full-service payroll company has a lot to offer, but if you’re a small business, it might cost more than you have at the moment. You should also be on the lookout for hidden charges like setup or account maintenance fees. Cost isn’t the only drawback of using a full-service payroll company. If the company doesn’t assign a payroll specialist to your account, your working relationship can feel impersonal. Liability for payroll tax filing errors may also be a problem. Some full-service payroll companies take responsibility on your behalf, but some do not. This means you could be hit with fees for mistakes your payroll provider makes. How do you choose between cheaper and full-service payroll?When choosing between cheap and full-service payroll, assess what you need as a company. A full-service payroll company may have everything you need and more, but that can be costly compared to a free or cheap payroll service that’s a bit more limited. The best way to decide is to weigh what you need against what you want but can do without. Plan on testing out a service if a free trial is available. When using the trial, ask yourself the following questions:
Sean Peek contributed to the writing and reporting in this article. Source interviews were conducted for a previous version of this article.
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| 7 Things I Didn’t Know When I Started Forex Trading (Avoid My Mistakes) Posted: 30 Oct 2021 01:36 PM PDT
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| Merchant Cash Advances and Working Capital Loans Posted: 30 Oct 2021 01:06 PM PDT Halloween Sale! Buy 1 get 10% off, Buy 2 get 15% Shop Now https://www.dresslily.com/promotion/Halloween-pre.html Hot deals ,ALL $12.99 Hot deals ,ALL $9.99 Hot deals ,ALL $6.99 ------------------------------------ Sometimes even the savviest small business owners find themselves with money tied up and unable to cover operational expenses. Merchant cash advances and working capital loans are financing options that can tide small business owners over with liquid capital delivered directly to their bank accounts. If, like many business owners, you need more cash on hand, you may be considering one of these types of financing. When handled properly, these financing tools can keep a cash-hungry business running, but beware – if misused, they may lead you into a vicious cycle of debt.
Editor’s note: Looking for a small business loan? Fill out the questionnaire below to have our vendor partners contact you about your needs. Merchant cash advance vs. working capital loan
What is a merchant cash advance?A merchant cash advance is a form of financing that isn’t truly a loan. Instead, it is a financing option that provides immediate cash in exchange for a business’s future credit card sales receipts. In essence, when a business accepts a merchant cash advance, it sells the revenue of its future credit card sales for immediate payment. Merchant cash advances are often used by seasonal businesses or those with cyclical sales to keep up cash flow during slow times of the year. Business owners can pay operating expenses and wages when sales are slow, then repay the merchant cash advance when their sales volume picks up and generate a profit. Since merchant cash advances are backed by projected sales, businesses with subpar credit scores also often rely on them for an injection of short-term working capital.
How do merchant cash advances work?A merchant cash advance traditionally offers an influx of capital based on a business’s expected credit card transactions over the course of a specified term. For example, if your business receives a $100,000 merchant cash advance with a 52-week term and a factor rate of 1.25, you would have to pay back $125,000 in credit card sales over the course of the next year. Merchant cash advance repayment generally breaks down into weekly payments, said Randall Richards, director of business development at RFR Capital. According to Richards, cash advance companies often draw the payment directly from a business’s bank account rather than its merchant account associated with credit card transactions. “Weekly payments would be based on sales and a multitude of factors,” Richards told business.com. “Someone who is only doing $20,000 per month in sales won’t qualify for a $100,000 [advance]. The sales have to support the payment, or else the lender is at risk of losing money.” Since merchant cash advances are based on sales, borrowers with poor credit can usually access them even when they can’t obtain a traditional loan. Of course, this flexibility means that merchant cash advances are more expensive than bank loans. “Merchant cash advances are one of the alternatives today for people as they move down and become less and less creditworthy,” said James Cassel, co-founder and chairman of Cassel Salpeter & Co. “Merchant cash advances could carry the equivalent of 40% interest rates.” Cassel clarified that merchant cash advances don’t carry an interest rate of their own, but the cost of a cash advance can be measured against the interest rates associated with a traditional loan. For example, in Richards’ hypothetical of a $100,000 merchant cash advance that costs a business $125,000 over a 52-week term, the interest rate equivalent would be 25%. That is much higher than the interest rates on many bank loans, which might cost a business with great credit 2% to 5% of the loan’s principal value, Cassel said. Understanding your factor rate and whether you can negotiate it is useful in reducing the cost of a merchant cash advance. How do you qualify for a merchant cash advance?The first requirement for most merchant cash advance lenders is that you accept credit card payments, since these transactions will be used to repay the loan. Not only do you need to accept credit card payments, you need to show that you garner enough credit card sales to pay back the loan in a timely manner. This is some other information you should have readily available:
Your proof of citizenship and a copy of your business’s lease will also help you to qualify. Lenders will look at how long you have been in business, your monthly revenue and your credit score. Their goal is to assess whether you have a healthy, thriving business that will be able to pay them back. The approval depends on these documents showing that your company is profitable and capable of repaying its debt. “You can qualify for a merchant cash advance by first applying through a reputable company,” said Xavier Epps, financial expert and CEO of XNE Financial Advising LLC. “Do your research first. Each company will have different requirements, but overall, these companies require less paperwork than traditional banks. The important thing is to make sure you can provide documentation for your business.” Pros and cons of a merchant cash advanceMerchant cash advances can be useful tools for many businesses. Whether you are a seasonal business weathering the slow season or a business with cyclical sales, such as a manufacturer that makes most of its sales in Q4, merchant cash advances can offer support. However, for struggling businesses, relying on a merchant cash advance to stay afloat could be the beginning of a death spiral. “Sometimes it’s a business that’s so excited and thinks it can’t lose but does,” Cassel said. “Other times, it’s a business that’s in deep trouble and just trying to stay afloat, waiting for the one more sale … just trying to survive, because then they believe they will thrive. Sometimes you have to question the viability of the business.” Like all forms of financing, merchant cash advances have both pros and cons. If you plan accordingly, they could be an effective tool for maintaining healthy cash flow and operating your business profitably. When used improperly, they can expedite the demise of a failing business. Managing a merchant cash advance to the benefit of your business means understanding the pros and cons and how to navigate them. Pros
Cons
What is a working capital loan?The term “working capital loan” refers to a small business loan or alternative financing option designed to cover near-term costs with a short repayment date. Businesses use working capital loans to cover a wide range of operational costs. These are some types of financing that could be considered working capital loans:
Borrowers who require a working capital loan might need it for the same reasons a company seeks out a merchant cash advance, such as to pay employee wages, purchase equipment, acquire new properties or expand inventory. They are also commonly used by seasonal businesses or those with cyclical sales. [Read related article: How to Decide Which Type of Business Loan Is Right for You] How do you apply for a working capital loan?Before you apply for a working capital loan, you should understand how much it costs to cover your day-to-day expenses so you’ll know how much capital to ask for. Epps said some lenders will ask for an overview of your business’s sales, so it’s important to collect several months’ worth of bank statements, balance sheets and tax returns. You will also need to provide your Employer Identification Number, your business mortgage or lease documentation, and your business credit score. It also helps to be prepared to answer questions like these:
“Thanks to fintech, many working capital providers have online applications where you can securely provide information on yourself, your business, and some type of verification, like bank statements, credit card processing statements, connecting your accounting software or connecting your selling platforms,” said Alex Sklar, head of business development and strategic partnerships at Payability. “Depending on your business and the partner you chose, funding can happen as fast as 24 hours.” What are the pros and cons of a working capital loan?Working capital loans tend to be less risky than merchant cash advances while serving similar purposes. However, it’s not uncommon for the qualifying requirements to be stricter, since working capital loans are often based on creditworthiness or a form of collateral more tangible than projected future sales. Here’s a closer look at the pros and cons of working capital loans. Pros
Cons
If you need fast cash, consider a merchant cash advance or working capital loan. Many businesses need help to support their cash flow. After all, cash flow is oxygen to a business: Without it, it won’t be long before the business chokes and operations stall. Merchant cash advances, lines of credit and working capital loans are financing options that can buoy up your business while you await future sales. However, without a clear plan in place, these forms of lending can spell disaster for a business. To make the most of any type of financing, you should have a clear road map to repayment and the ability to execute that plan successfully. Good recordkeeping and a strong understanding of your business are critical. Accepting a loan in hopes that you might generate future sales to cover it is a major risk. When in doubt, consult an accounting professional before accepting money from a lender of any kind. With a bit of planning, merchant cash advances and working capital loans could be precisely the support you need until you’re back on track to profitability. Simone Johnson and Adam Uzialko contributed to the reporting and writing in this article. Some source interviews were conducted for a previous version of this article.
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| Belajar Trade Forex, Saham, dan Kripto Ni, Boleh Kaya Ke? | Moshed Vlog Posted: 30 Oct 2021 12:34 PM PDT
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| Does Your Business Need a Cash Flow Statement? Posted: 30 Oct 2021 12:05 PM PDT Halloween Sale! Buy 1 get 10% off, Buy 2 get 15% Shop Now https://www.dresslily.com/promotion/Halloween-pre.html Hot deals ,ALL $12.99 Hot deals ,ALL $9.99 Hot deals ,ALL $6.99 ------------------------------------  Cash flow is one of the top concerns for your business, so cash flow statements are the first financial statements you’ll create. This overview will help you establish the financial tracking and reporting you’ll need to develop cash flow statements and get a handle on what’s coming in and what’s going out. What is a cash flow statement?A cash flow statement, also called a statement of cash flows, is a financial document that shows how money is flowing in and out of your business. Common financing activities – such as securing loans or applying for investment capital – may require this and other types of financial statements. Cash flow statements are used to evaluate the financial health of a business and to provide a picture of how you spend and invest the money.
Editor’s note: Looking for the right accounting software for your business? Fill out the below questionnaire to have our vendor partners contact you about your needs. What’s included in a cash flow statement?To understand the cash and cash equivalents flowing through your business, you’ll need to put together a cash flow statement, which is usually split into three sections. These are the most common terms, but there may be some variations by industry and region. These are the three sections that are typically included: Cash flow from operatingOften referred to as “cash from operating activities,” this is usually first. It covers the incoming cash from sales or contracts and the outgoing payments for operational expenses, such as taxes, staff or manufacturing costs. Cash flow from investingThe investing section records capital expenditures, acquisitions and divestments. Expenditures and acquisitions are both cash outflows, while divestments are cash inflows. It’s not unusual for this section to primarily consist of cash outflow, as many thriving businesses spend more money investing than they do cashing out investments. Cash flow from financingIn this section, you’ll detail how your company is funded and distributes its funds. Data in this portion may include transactions concerning company debt and equity. If your company pays dividends to shareholders, you would capture that here. How to calculate cash flowTo calculate your business’s cash flow, you add or subtract differences in your net income based on information from your balance sheet and income statement. The adjustments are made to revenue, expenses and credit transactions because net income includes noncash items. These are methods used to calculate cash flow:
Accounts receivableCash flow statements should always include changes in accounts receivable during each accounting period. A decrease in accounts receivable indicates an increase in cash from customers who have paid off their accounts. This results in increased net earnings. However, an increase in accounts receivable should be deducted from net earnings because it is not an increase in cash. Inventory valueAn increase in inventory should be reflected as a deduction from net earnings because it indicates money your company has spent (if it was paid in cash). Inventory purchased using credit would be reflected on your balance sheet as an increase in accounts payable, with the increased amount added to net earnings each year. Cash flow statement exampleHere is an example of a cash flow statement. Why is cash flow important?Inadequate cash flow can keep your business from expanding. In past surveys, we’ve found that cash flow is not only the most important facet of your business, but it matters to outside investors and lenders too. In fact, many common financing activities require you to provide financial statements, including cash flow. While the financial health of your company shouldn’t be judged based on one aspect, cash flow is a valuable source that can prove you operate efficiently, pay bills, and grow. These statements are widely considered one of the most important financial statements your business produces. Additionally, tracking cash flow can help you make more accurate future projections. What is cash flow?As with anything related to financial math, understanding the jargon is half the battle. You may come across terms like “negative cash flow” and “cash flow from operations.” Here’s what those and other important phrases mean. Cash flowCash flow is the money going into and out of your business over a period of time, often reported quarterly. It is more informative than profit alone, because it gives a fuller financial picture of your expenses, debts and assets. Not all assets are part of cash flow. Only short-term investments – typically bonds with a maturation of three months or earlier – should be considered part of cash flow. Longer-term investments are not considered part of your company’s cash flow, since invested money is usually not immediately accessible and can fluctuate with the market. Positive cash flowPositive cash flow is when a company’s incoming cash exceeds its outgoing expenses. Reaching a positive cash flow point is a major milestone for new businesses. Negative cash flowIf your statement shows negative cash flow, this means that during the period being evaluated, your business transferred more money out than it received. Rest assured, this does not indicate that you are in peril. You may go through negative cash flow during certain times of the year if your product or service is seasonal. And if you have a new business, you may keep a negative cash flow until you acquire a consistent client base. Net cash flowThe difference between outgoing and incoming cash flow is referred to as “net cash flow.” In other words, it represents the change in your business’s cash holdings over the period covered in your statement. Tracking your business’s net cash flow over time can be helpful. Free cash flowA company’s free cash flow is the money left over after it has paid all expenses and reinvested money in the business – such as by purchasing equipment, hiring new staff, and making financial investments. Free cash flow is usually of interest to shareholders and is often included on a cash flow statement. Operating cash flowOperating cash flow is the money a company generates from its business activities alone, not from investors. This is an essential item on a cash flow statement because it’s an excellent indicator of your business’s strength. What are other types of financial statements?Financing activities like applying for loans or courting potential investors often require several financial statements. In addition to a cash flow statement, these three documents may be required, depending on the nature of your business and the financing activities you’re pursuing: What resources can support cash flow statements?Financial tracking can be a daunting task. These accounting resources will help you create an efficient cash flow statement. Accounting softwareThe best accounting software applications have a preconfigured report for cash flow statements. You can also find an online template if you’re not yet using a software program. If you utilize a template, make sure to choose one that matches your needs and reporting schedule. Accurate tracking is an important task in managing your business’s finances. Without accurate tracking, even the best template, income statement or balance sheet will be useless. Accounting software that helps you manage your financial tracking usually pays for itself in the short term. Securities and Exchange CommissionThe U.S. Securities and Exchange Commission publishes many helpful guides, such as the Beginner’s Guide to Financial Statement. If you’ve never read a balance sheet or put together a profit and loss statement, it will give you the background you need. Dachondra Cason contributed to the writing and research in this article.
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