Small Business Payroll

As your investments grow, so does your business. If you have employees, a knowledge of payroll standards and regulations is vital.

22
Hrs
Mins
Secs
03
13
26
Segments Duration
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INSTRUCTOR

Kathleen Fox

In 2001, Kathleen formed Payroll City to provide quality, full-service payroll for small to medium size companies. With the motto of “Rediscover Service” in mind, Payroll City strives to make every client feel like they are their only client. An advocate of reducing duplication of effort and utilizing technology to its fullest advantage, Kathleen currently guides the company’s strategic direction and influences the development of Payroll City’s proprietary payroll software.

Description:

Small businesses that manage real estate investment portfolios and properties can quickly grow to a size that requires full and/or part-time employees. As a business owner you will need the tools to properly handle, manage and report payroll and insurance contributions. Kathleen Fox the founder and CEO of Payroll City, gives you an in-depth look at how to get the first payroll for your company set-up and started. Go over the details of the forms and required submissions to make your payroll compliant with federal and state regulations and lay the foundation for smooth and accurate reporting in the future. Compliance is key and Kathleen’s comprehensive divulgence of regulation and standards of practice is clear, concise and easy to follow. She shares tricks of the trade and common pitfalls that new business owners experience as they establish their own payroll systems. Kathleen also shares how payroll outsourcing works and when it might be the most cost effective and time saving decision for your business. Take control of your business future by mastering your Small Business Payroll with expert help from Renatus and Payroll Guru, Kathleen Fox.

  • 01

    Pre-Assessment

    Take this Pre-Assessment to determine how much you already know and what you still need to learn about.

  • 02

    Instructor and Class Introduction

    Kathleen Fox is the CEO of Payroll City, which is a payroll processing and servicing company that helps small businesses handle payroll and HR.

  • 03

    Tax Identifiers

    Kathleen introduces some general terms like EIN, FEIN and OPT tax and explains how they relate to the realm of business payroll.

  • Show all 22 segments

    • 04

      A New Hire Packet and W2 Forms

      This segment includes what documents should be present when giving an employee a new hire packet and how much you are able to assist them when they fill it out.

    • 05

      Exempt Tax Deductions and I9 Forms

      The instructor covers the differences with taxes and payroll when hiring employees on a work visa or those that are tax exempt.

    • 06

      Pay Cycles

      Kathleen examines different pay cycles and how certain types of businesses or employees might be better suited to a biweekly pay period, rather than a semi-monthly or monthly pay period.

    • 07

      Calculating Paychecks

      Kathleen walks the class through how to calculate an employee’s paycheck, while factoring in all the taxes that both the employee and employer are responsible for.

    • 08

      Employer Deductions

      The instructor provides a live example demonstrating the types of deductions employers receive and what that might look like on a financial planning spreadsheet.

    • 09

      Sample Pay Stub

      In this segment, you will look at an sample pay stub and learn all the different coding and terminology that employers typically use on pay stubs sent out to employees.

    • 10

      Mandates and Combine, Track, and Pay Taxes

      Kathleen shares with the audience about certain mandates you should be on the lookout for as a small business owner, how you combine different taxes, and the process behind paying them.

    • 11

      File Required Reports

      This segment will show you when to file your reports and how the filing system is structured, including important deadlines and tax requirements that every business owner should be aware of.

    • 12

      COVID Credits and COVID Relief

      Kathleen introduces something that is unique to 2020, COVID relief credits for business owners and employees. Kathleen walks the class through the different types of COVID credits and a few of the effects that COVID relief might have on small business payroll.

    • 13

      Payroll Options, Links, and Useful Searches

      Kathleen explores some of the different options you can utilize to help with your payroll. Also, she shows the audience where they can find their state’s W-4 form and other helpful resources available online.

    • 14

      Links and Useful Searches II

      Take a deeper look into some great online resources that are available to you as a business owner, including how you can calculate income tax withholding for your business.

    • 15

      Question and Answer

      Kathleen answers some audience questions including how you can make your hire packets more accessible to employees, and how an employer can verify employee social security numbers.

    • 16

      Question and Answer II

      Kathleen answers more audience questions concerning calculating tip credits and the cost of using a payroll company.

    • 17

      Payroll Check Calculator Resources

      Using a live example, Kathleen shows the class how to use an online payroll calculator from the state of California to calculate an employee’s payroll and deductions.

    • 18

      Spreadsheet Setup Example

      Kathleen shows the class how to setup and organize an Excel spreadsheet to track your payroll numbers. Also, she introduces basic formulas that you can use to run calculations and organize your data more efficiently.

    • 19

      Data Retention and Electronic Onboarding

      Kathleen discusses how electronic onboarding systems work, and how they are usually more secure and interactive for both the employee and employer.

    • 20

      Question and Answer III

      More questions from the audience, including how often the state tax wage base changes and the pros and cons of using direct deposit to pay your employees.

    • 21

      Why Outsourcing and Final Questions

      Kathleen highlights the benefits of using a payroll company, whether or not it would be worth it for your small business, and answers a final audience question about doing payroll for multiple businesses.

  • 22

    Post-Assessment

    Take this Post-Assessment to determine which topics you need to review.