| Payroll management is an issue that is never too | | | | sick days, holidays |
| early to start considering. Obviously, in the early | | | | Employee Benefits - health care, dental plan, |
| stages of your business, your payroll | | | | pension |
| management will consist of paying yourself. As | | | | Insurance - Disability and Life |
| your business grows you will have to concern | | | | A common aspect of payroll management that |
| yourself with compensation for you and your | | | | gets overlooked is payroll taxes. No matter what |
| employees. | | | | you do, you can't avoid these for either yourself |
| Payroll management in a business that has | | | | or your employees. The employer's portion of |
| employees requires planning for salaries and hourly | | | | payroll taxes will cost you money. Effective |
| wages. There will also be payments to | | | | payroll management takes this expense into |
| subcontractors for technical and sales related | | | | consideration from the start. |
| services to consider. You will eventually become | | | | The Bottom Line on Payroll Management |
| too busy to do it all yourself and you will need | | | | Payroll management is an issue you need to think |
| help. | | | | abut before you have employees. Even if the |
| Before you get to the stage where you need to | | | | payroll roster is just you, your business will still |
| hire additional help, it is a wise strategic move to | | | | have payroll expenses. It is never too early to |
| think about your payroll management needs and | | | | start thinking strategically about your payroll |
| plan accordingly. | | | | management. You should be formulating a plan for |
| Payroll Management Issues | | | | handling employees and subcontractors and the |
| Salary versus hourly wage | | | | expenses that come along with them, long before |
| Bonuses and commissions | | | | you actually need them. |
| Compensation Package - vacation pay, time off, | | | | |