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Suggestions For Utilizing Facebook To Build Referrals?

Asked by Marcy Schacter from Make Healthy Taste Great

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Has anyone found a great system for automating referrals through a simpleFacebook page

How-To Articles

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How To Actually Generate Customers On Professional Networks: Part 1

Asked by Julbert Abraham from AGM - LinkedIn Marketing & LinkedIn Training

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If you're wondering if you can get clients from a professional network such as LinkedIn or Alignable (or any... Read Full Answer

Data & Insights

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10 Actually Actionable Benefits Of List Building

Asked by Juan Manuel Colome from Top Response Marketing

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What is List Building all about?

List building refers to a continuous process of adding new and updated subscribers to your list.... Read Full Answer

Local Business Stories

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Celebrating Small And Locally-owned Businesses With Bill Brunelle of Independent We Stand

Asked by Alan Belniak from Alignable

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Today's special edition of the Local Business Stories by Alignable podcast highlights... Read Full Answer

Accountants and Finance Experts, Do You Have and Suggestions on How We Can Trim Company Expense When It Comes to Payroll Taxes?

By Andrew Canary · Posted on Monday, May 15, 2017 · Tagged in Taxes

We are an electrical contracting group that prides itself on doing things the right way.....we are getting hammered each month on fed/state tax expense. We are a small business of about 13 people, and we are a very efficient crew. We don't have any down time when it comes to our daily operations, we don't have a whole lot of overhead, we don't have a warehouse or office space at this point, and we can't seem to get ahead the way we should be. I'd love to understand how other businesses are so successful turning a profit. Any advice would be greatly appreciated.

Most Engaging Answer

Tracy Bowen from Business Resource Bookkeeping, LLC
2 Locals Recommend Them • Answered on Wednesday, May 17, 2017

If your employees are working efficiently and their billable/non-billable ratios are high (meaning you aren't paying them for a lot of down time or travel time or parts shopping time), the payroll taxes are going to be what they're going to be. There isn't really any wiggle room other than paying them as independent subs and letting them handle their own taxes, etc. Keep in mind that the rules on who is and who is not an employee are very specific. You can't just say a guy was an employee one day and not the next day without any change in the work flow.

... (more)

Linda Rausch from AMT Solutions
1 Local Recommends Them • Replied on Wednesday, May 17, 2017

What an excellent response Tracy. Well written, and easily understood by someone that isn't an accountant. My hubby, who is the actual Accountant in the family, would be very impressed. Good job :-)

Jason Sutton from Law Office of Sutton & Sutton
2 Locals Recommend Them • Replied on Thursday, May 18, 2017

I agree with Linda. Great job, Tracy.

Nhon Do from American Financial Management Group
1 Local Recommends Them • Replied on Thursday, May 18, 2017

What Tracy said is about cost accounting. Make sure you trace all costs and allocate them to the cost of a project!

Doug Boswell from SG Accounting Services
2 Locals Recommend Them • Answered on Wednesday, May 17, 2017

As an S-Corp, the owners can take an additional percentage of their payroll-based income as straight disbursements. These disbursement allow you to avoid the employer side of the federal payroll taxes on the disbursed amounts. Speak with your CPA about determining the maximum percentage amount you can legally take. Other than that, you are stuck with what ever payroll taxes your employees generate. But remember the total payroll tax expenses include each employee's tax as well as the employer contributions. That number may look large to you, but realize that... (more)

Christopher Cu from Christopher Cu & Associates
1 Local Recommends Them • Answered on Monday, May 29, 2017

Not sure if this speaks to you but I help business owners capture Workers Opportunity Tax Credits (WOTC) of up to $9,600 for each employee hired and $3,600 for each existing qualified employee. We've developed a simple online tool for business owners to check in 30 seconds if they qualify for any Federal Programs.

Timothy Brown from 360° Wealth Resources, LLC
0 Locals Recommend Them • Answered on Monday, May 29, 2017

Hi Andrew. Apparently you asked an excellent question, given the volume of responses. When I read them all, my favorite guidance was outsource and shrink your team. The one critical step in such a process is to identify all your firms roles and tasks. Once identified, then opportunities to outsource all of the firms non unique skills will be available. When unique skills are identified for everyone, you are likely to enjoy greater productivity when each teammate plays their best position. Did you already do the Kobe Index and Strenghtfinders for all the firms... (more)

Nhon Do from American Financial Management Group
1 Local Recommends Them • Answered on Monday, May 29, 2017

There are ways you can "trim" company expenses when it comes to payroll taxes! These are several factors you would first consider:

1. What type of your business's form? Your crew also your business partners (Partnership) or they are your employees, or just contractors? Only employees are subject to payroll tax.

2. If they are employees, what is your payroll's structure? Basically, payroll includes involuntary and voluntary expenses. You may eliminate or reduce your voluntary expenses, such as fringe benefits.

In general, as an EMPLOYER, you have to pay payroll... (more)

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