Saint Paul's Earned Sick and Safe Time (ESST) Ordinance goes into effect on July 1, 2017 for employers with 24 or more employees. Beyond placing a poster on the wall and knowing that workers will accrue 1 hour of earned sick and safe time for every 30 hours worked, what's a business owner to do?
Starting July 1, 2017, workers in Minneapolis will accrue 1 hour of sick and safe time for every 30 hours worked, as passed by the Minneapolis City Council. The Sick and Safe Time Ordinance was created to allow employees to care for themselves and family members, "making Minneapolis a healthier, more secure, and more productive community."
As a small business owner, how will you prepare to account for this time? The following information and tips for compliance are a start.
The process of hiring, on-boarding, and training new employees isn’t easy, especially for small business owners accustomed to doing everything themselves in the absence of a human resources department.
While the process of finding and hiring a new employee takes time away from your already busy schedule, due diligence up front in the hiring process will pay dividends in the long run.
The key is to be proactive. Bringing someone new into your business family can be intimidating at first, but it’s a necessary process to scale and grow.
As a small business owner, you should be consistently looking for ways to improve operations, increase profits, and reduce unnecessary spending. One option that should be considered is to hire accounting and payroll services to save you time and money.
Small Business Payroll
Small business payroll can be a time-consuming and stressful task for a small business owner, especially if you run payroll in-house.
According to the National Business Association 2015 Small Business Taxation Survey, 1/3 of small businesses spend more than $6,000 per year on the administration of payroll and payroll taxes. Regardless of the size of the small business, it’s important to have a payroll system in place to protect you from IRS penalties and to ensure your employees are paid on time.
When it comes to managing payroll for your small business, you may be using your own accounting software. While the software offers the necessary features to comply with payroll regulations, the overall payroll process can be complex and time consuming, especially as you begin to hire more employees. Not to mention that mistakes in payroll are commonplace, and even a simple mistake can result in expensive fines.
Depending on the health of your business, the decision to file for a tax extension this year may have been for good reason. You may have experienced unexpected growth that led to more complex tax obligations, or you realized you’re just too busy working on your business at this point in the season to accurately process the required forms. These are valid reasons to file for an extension and a good indication you’re ready for professional accounting services moving forward.
Outsourcing your payroll means there’s one less thing on your plate. It simplifies your operations and ensures your payroll will be accurate and timely. Ideally, a professional payroll provider will deal with confusing tax laws on your behalf and cover the cost of any payroll errors.
Knowing you won’t need to deal with the IRS about your payroll is a big plus, but what if your payroll service is underperforming? Are they doing enough for you, or do feel like their customer service is lacking?