On the surface, running payroll sounds like a simple task: you put in your employees’ hours or salaried rate, calculate the amount for that payroll, and pay them, right?

If we had to guess, we’d say most people haven’t thought about their taxes since they filed them or requested an extension back in April. While that’s completely understandable, it never hurts to start prepping now for your 2018 taxes. In May, we posted an article about some ways you can start getting organized now for the next tax season, including knowing your deductions and how to get help sooner if you struggled this year.

As a small business owner, processing payroll is just one item on your to-do list, but ever-changing regulations and tax code updates can make it the most time-consuming task in a given week. These tax updates occur at the federal, state, and local levels, and depending on where your business is based and where your employees live, some small businesses have it tougher than others. We’ve started this monthly series to focus on state-specific tax considerations, to help you keep up with what’s changing around you.

As a small business owner, processing payroll is just one item on your to-do list, but ever-changing regulations and tax code updates can make it the most time-consuming task in a given week. These tax updates occur at the federal, state, and local levels, and depending on where your business is based and where your employees live, some small businesses have it tougher than others. We’re starting this monthly series to focus on state-specific tax considerations, to help you keep up with what’s changing around you.

Last month, we covered New York, and this month, the spotlight turns to Pennsylvania (PA). While this is by no means a comprehensive list of Pennsylvania tax and payroll regulations, we are highlighting a few key things to know.

As a small business owner, processing payroll is just one item on your to-do list, but ever-changing regulations and tax code updates can make it the most time-consuming task in a given week. These tax updates occur at the federal, state, and local levels, and depending on where your business is based and where your employees live, some small businesses have it tougher than others. We’re starting this monthly series to focus on state-specific tax considerations, to help you keep up with what’s changing around you.

Most of you probably read this blog and think “I could really use more payroll tax content.” We kid.

All business owners must withhold payroll taxes. It’s just a fact. You’re legally obligated to do it, so payroll taxes are something you really can’t afford to hide under the filing cabinet, risking fines and penalties.

You probably don’t expect to see the word “flexible” used to describe payroll options, because there’s nothing flexible about pay dates or tax filing requirements – those deadlines are firm.  

2018 Taxes. Your favorite subject right? 

A lot of number crunching goes into running a small business. When your books get overwhelming, don’t get scared, take a deep breath and consider the options available to you for help. Accountants and bookkeepers can help manage the books for your small business and keep everything flowing smoothly.

Small businesses take many forms—some operate out of the owner’s living room, some out of an office or retail store, some are on the road. Working outside the state in which you live can add a layer of complexity to tax filings and payroll calculations.

Payday: it’s a day that pretty much everyone looks forward to. But when exactly pay day occurs varies from business to business. As a small business owner, do you know which payroll frequency/schedule your business should be using? With weekly, bi-weekly, semi-monthly and monthly options you may be confused about which schedule to use. It’s important to know that, in some cases, the choice is made for you based on the state in which you live. 

Mistakes happen. One area of your small business you definitely don’t want to see a mistake? Payroll. 

Taxes: always a tricky subject.

And just when you think you’ve got it figured out for your personal and small business filings, well, they go and change everything on you. As you more than likely know, at the end of 2017, new federal tax legislation was signed into law. In addition to changing the tax brackets, it included significant changes to standard deduction allowances.

The good news: you can switch payroll providers, or start processing payroll with a provider, at any time throughout the year.

As many in impacted areas across Florida, Georgia, Puerto Rico, the U.S. Virgin Islands, and parts of Texas focus on rebuilding after widespread damage from Hurricanes Harvey, Irma, and Maria, the prospect of their 2016 tax-filing extension running out on October 16, 2017 is an added cause of stress.

When it comes to starting and running a small business, there are a million moving parts, to say the least. Keeping track of rent, utilities, insurance, inventory, recruiting and staffing, payroll...the list goes on and on. And when you are that close to the trees, it can be hard to see the forest—your overall business cash flow.

With the gig economy making up 34 percent of the workforce in the United States, things are changing quickly both for workers and employers. The gig economy refers to the labor market made up of short-term contracts or freelance work versus a permanent job.

Bringing a new employee into your company can be a big step. As a small business, each new employee is not only a testament to the success and potential of your business, but a significant investment of time and monetary resources.

When you're a small business owner, there's never enough time in the day. You're probably handling HR, customer service, sales, and marketing on any given day of the week, not to mention all of the back office work needed to keep the lights on, employees paid, and taxes filed – and that's before you get to the real work of serving your customers!