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    Construction Company Employee Compensation And A Note On Taxes

    Posted by Sharie DeHart on Fri, Sep 16, 2022

    There are a few different methods that employers use to pay their employees, and while they may have similarities, they each also have implications for your construction business and employees. On top of that, there may be a blended model at play, in which you offer two types of compensation at once, such as a wage and bonuses. 
     
    When paying employees, laws and the IRS have made the payroll function a time-consuming nightmare for the small business owner.
     
    Small business owners spend an average of eight hours monthly performing payroll functions. That's 12 full business days a year that could be spent generating sales, prospecting for new business opportunities, improving products or services, or servicing customers.
     
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    Topics: Payroll Loan, Payroll Processing, Payroll Tax, Payroll Options, Construction Bookkeeping And Accounting, Contractor Tips, Payroll For Construction Contractors

    Power Up Your Construction Company Payroll Processes

    Posted by Sharie DeHart on Fri, Aug 12, 2022

    Payroll is one of those things that starts quite simple. You build your construction business, hire a few employees, and things tick along pretty well. It’s straightforward enough to keep everything in line at first, but what happens to most companies is that they grow!
     
    However, having an employee is different than when it’s just you meeting the client, doing the work, and collecting the money. The dynamics change when you hire that outside person. You need to be even more cautious when considering hiring a friend or family member instead of a stranger because success has a thousand fathers while failure is an orphan! Success or failure could mean choosing between peace and harmony in your personal relationships or giving away a portion of your hard-earned fruit.
     
     
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    Topics: Payroll Loan, Payroll Processing, Payroll Tax, Payroll Options, Construction Bookkeeping And Accounting, Contractor Tips, Payroll For Construction Contractors

    The Ugly Truth About Doing Your Construction Company Payroll

    Posted by Sharie DeHart on Fri, Apr 02, 2021

    Still Doing Your Payroll?

    At face value, it seems like a great idea.
     
    If you're a small construction business owner with just a few employees, you probably think hiring a payroll specialist is an expense that you can avoid. 
     
    You feel that you can handle it yourself. You have the best intentions to keep your staff paid and on time. What could go wrong, right?
     
    Well, lots. Here are 3 reasons why you should stop:
     
    It's a time waster

    If you don't have a finance background, you'll likely spend a substantial amount of time calculating employees' work hours, computing for taxes and other deductions, creating payslips, processing, and filing.

    Even if you have a bit of a bookkeeping background, are you sure you want to spend your precious time doing these tasks instead of focusing on your construction business's core aspects?

    Read More

    Topics: Payroll Processing, The Contractors Account, Payroll Options, Construction Bookkeeping And Accounting, Systems And Processes, Contractor Tips, Payroll For Construction Contractors

    Payroll Options - Paper Check, Direct Deposit or Debit Card?

    Posted by Randal DeHart on Wed, Feb 15, 2012

    When Contractors Ask - Which payroll option we recommend we usually say Direct Deposit. The reasons are simple and as usual related to our primary role as "Profit And Growth Specialists For Contractors" and our Primary Mission which is helping you, the men and women of the greatest industry on earth, construction industry to achieve your definition of success. You deserve to be wealthy because you add value to other people's lives.

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    Topics: fully burdened labor costs for construction worker, Payroll Options, QuickBooks For Contractors, Construction Bookkeeping And Accounting, Business Process Management For Contractors

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