Most people who start a business are thinking of the big picturethe products they hope to sell, the customers they hope to win, the profit they hope to make. But it's the small details that often make the difference between success and failure.
Chief among these is attracting and keeping good people, and that means paying them the right amount at the right time. As an employer, you are responsible for calculating the earnings of your employees; withholding taxes, Social Security, Medicare, and other deductions; recording all payroll activities; preparing and filing tax documents for federal, state, and local agencies; and, of course, paying your staff.
All that paperwork can be time-consuming and expensiveand it can distract you from the tasks that really need your attention and cannot be delegated to someone else. It's up to you to decide if and when to hand the process over to an internal bookkeeper or to outsource it entirely.
We've put together some resources to help you make the decision.
This Resource Center is designed to offer helpful news, tips, and tools for general informational purposes ONLY; it is not intended to provide legal and/or financial advice or recommendations for any specific individual, business, or circumstance. The offerings found here are provided by third parties, which are neither controlled nor endorsed by Bank of Oklahoma. Bank of Oklahoma does not guarantee or warrant the accuracy, completeness, or timeliness of this information and content. Additionally, links to third party sites are provided only for your convenience. Third party sites are neither controlled nor endorsed by Bank of Oklahoma and may not have the same privacy, security or accessibility standards. Third Parties are solely responsible for the content and availability of such sites.
© 2015 Bank of Oklahoma, a division of BOKF, NA. Member FDIC. Equal Housing Lender.