As the leader of your business, you know that there can be many hazards in the workplace. However, if you’re like most small business owners, you’re probably not thinking about the possibility of being affected by a workplace disaster. However, the construction, manufacturing and machinery industries are at a higher risk for workplace disasters - maybe the same industry your business is thriving in today. So the risk for a workplace injury or risk of a violation could be a lot closer than you think.
Payroll and payroll tax administration happens to be one of the most time-consuming and annoying tasks for small businesses owners. In fact, according to the NSBA 2014 Small Business Taxation survey, payroll taxes were ranked number one for the most financially burdensome and number two for the most administratively burdensome federal tax among small firms. That same survey went on to say that 1 in 10 small businesses report that they spend 10 hours per month on payroll taxes alone. That’s three full works weeks spent just on payroll taxes - a lot of man hours spent on one task.
As a small business owner, you undoubtedly want to see your business grow. While it’s no secret that maximizing sales and minimizing expenses are key to growing a profitable enterprise, offering employee benefits can play a vital role in business growth.