ASAP Payroll BLOG
Why Should a Small Business Outsource Their Payroll?
You started your company and it’s now thriving. As it grows, will you be adding add human resources staff to manage your payroll and other HR responsibilities? How about hiring legal teams to withstand errors or stand up against litigation you might face? Or have you considering outsourcing your payroll needs to free-up your employees ...
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Tracking the Health of Your Business Through a General Ledger
The General Ledger—How it Works A general ledger account is an account or record that’s used to sort, store, and summarize your company’s transactions. It’s the lifeblood of your business and provides a report of how healthy it is. General ledger categories include asset accounts, namely cash, accounts receivable (legally enforceable claims for payment ...
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Demystifying Employee vs. Independent Contractor
An employee and independent contractor (self-employed) may do comparable work for your company; however, there are distinct differences between the two. Whether you employ one or both classifications, you need to clearly understand the legal distinctions between them. An employee works exclusively for a single company and will be compensated on a salaried or ...
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Small Business and ACA Compliance
Defining Small Business We’re all familiar with the term “small business.” Under this umbrella, the Small Business Administration (SBA) states there are 27 million small businesses in the U.S.; but, depending on who’s using the term, it has different meanings. As mentioned, the SBA defines “small business” as any actively operating company with 500 or ...
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PPP Loan Forgiveness
The Payment Protection Program (PPP) Flexibility Act of 2020 was designed to modify certain provisions related to loan forgiveness under the paycheck protection program. It lets recipients defer payroll taxes and other business-related expenses. In other words, the program helps relieve small businesses and their employees from the economic impact of COVID-19. As of ...
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Applicant Tracking Systems
Attracting and retaining skilled workers has grown exponentially more challenging, according to Manpower Group (www.gomanpowergroup.com, with 54% of companies globally reporting talent shortages—the highest level in over a decade. And, the U.S. Bureau of Labor claims there are 670,000 more job openings than unemployed potential workers (based on statistics prior to the 2020 coronavirus). Applicant ...
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Will Indiana’s Minimum Wage Increase in 2022?
In the United States, each state is allowed to set its own minimum wage or
How to Create a Competitive Employee Benefits Package
It is becoming increasingly critical for companies to offer the best employee benefits in today’s
Illinois Overtime Laws for Salaried Employees
The Illinois Minimum Wage and overtime pay law parallel the Federal Labor Standards Act (FLSA),
Payroll, HR and Onboarding Basics for Your First Employee
Hiring an employee for your new business is an exciting prospect that signifies your business
Indiana’s Small Business Restart Grant Eligibility Criteria
Indiana Governor Eric Holcomb has approved $30 million in federal funding for Small Business Restart
