Tag Archives: Wesley Chapel

Financial Planning, HR and Payroll

Human Resources Are the Driving Force of Any Business

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Human Resources are the group of individuals who specializes in forming, binding and maintaining the workforce of a firm, business sector or an industry. They play a vital part in any organization to get things done the right way. Therefore, it is imperative to setup an efficient human resource department because without it, businesses cannot carry out their day-to-day functions optimally.

An organization cannot build a great team of professionals without adequate human resources. Most of the small business owners do not have HR departments because they are the sole owner and operator of their business. The owners themselves take care of the hiring and firing of the employees and analyze the performance of each of the employees, and provide them with adequate benefits and compensations.

On the other hand, when we talk about large organizations, the HR department plays an important role in the success of the organization. What good would be a business without professionally trained employees who are ready to infuse their skills into the business? The main purpose of a HR department is to seek out individuals with potential and skills relevant to the business and motivate them to unleash their potential for the benefit of the organization.

Functions of a HR Department

The prominent functions of a Human Resource department include:

  • Recruiting people
  • Selection and Screening process
  • Training new employees
  • Compensation
  • Performance appraisals
  • Informing about the company policies on workplace safety
  • Motivating employees
  • Workplace communication
  • Organizational hierarchy

The basic function that the HR department performs before hiring an employee is participating in a decision-making process, where it outlines the staffing needs, the personal qualities of an individual, his/her abilities and skills necessary to be an asset to the business. HR compensation specialists scrutinize and conduct right compensation measures according to the duties of the new employee.

Another important role of the HR Department is to reduce the potential liability to the firm after a new recruitment and maintaining the company atmosphere. Through an effective selection and screening process, HR manages to lower the allegations of unfair practices in employment. They identify and resolve workplace issues that are unattended and could spiral out of control. They help keep the company safe from legal issues that can hold on for long periods.

Maintaining workplace atmosphere is essential to create a positive environment for employees that come every day and perform their duties with honesty and professionalism. The HR department makes sure that compliance is at every level of the organization from top to bottom.

Employee compensation is an important part of the HR management. Employees tend to get de-motivated when they are compensated inadequately. This breaks the sense of trust and responsibility in the employee, and the business may suffer due to poor performance. Payroll of employees should be according to the quality of work they deliver and each employee is to be treated differently rather than compensating everyone on the same level.

Therefore, HR plays a crucial role in binding the whole business together physically and mentally. It recognizes the need for human resources and the quality of work expected, and delivers individuals that are confident and motivated.

Tax Tips

Ten steps on how we save you money

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Save_Money1

Ten steps on how we save you money:

1. We save you money by automating your accounting department. By doing so, you save on direct/indirect payroll, overhead costs as well as technology costs. Your data is saved on our dedicated secure server in an SAS70 certified data center. You will have absolutely no computer or software costs. We also eliminate your hiring and training headaches. Our skilled, experienced professionals handle your daily accounting and bookkeeping. We will help you develop standardized and consistent policies and procedures to streamline the accounting process for you.

2. We save you money by implementing numerous tax strategies. You save on taxes with our proactive accounting and tax advice and guidance. We have more than 100 tax planning strategies, which we will gradually implement as we monitor the progress of your business. You will be amazed to see how the implementation of just one, sound tax strategy can help you save way more money than our fees for the entire year.

3. We save you money by not allowing you to pay any penalties to the IRS or state authorities. You are guaranteed never to pay any penalties due to our strict adherence to deadlines. We will handle all your required filings in the most efficient and timely manner. If we don’t file any forms or make a tax deposit on time, then we will pay any tax penalties on your behalf.

4. We save you money by valuing your time. Your phone calls and emails will be returned within 24 hours. We will finish any tasks requested by you within 48 hours. We are easily accessible through phone, email, chat, Skype and other social media. We will complete your bookkeeping by the end of every month, or you will not be charged for that month.

5. We save you money with our audit protection plan. If you get audited or receive a notice from the IRS, all you have to do is just forward it to us, and we will take care of the rest. We will represent you and correspond with the IRS on your behalf. You will not have to pay any fees for our additional work.

6. You save money by automating your payroll and HR process. We process your payroll online with direct deposit, make tax payments electronically, prepare quarterly payroll tax returns, 1099s and sales tax returns and submit them electronically. We will also automate your time sheets, vacation benefits, expense reimbursements and HR functions through our Human Resource Information System (HRIS).

7. You save money by having a CPA firm by your side throughout the year. We provide unlimited consultation regarding accounting, tax, marketing and business matters throughout the year.  You also have access to our resource library and your own online portal.

8. You save money with our marketing consultation. We meet with hundreds of entrepreneurs throughout the year, and will share with you the many outstanding marketing strategies that are being implemented by other successful businesses.

9.We save you money by automating your A/P and A/R departments. All you have to do is to scan, fax, or email your paperwork to us, your capable accountants, and your hassles are no more. For A/P (bills) we keep track of all your due dates, set an approval process and automatically pay on the scheduled date. For A/R (invoices), we email or post your invoices, so you have no more hassle with printing, postage and mailing.

10. Your savings will be significantly higher with our accounting packages than with any other accounting firm. You will know what your fees will be well in advance, so there will be no unpleasant surprises. On average, our fees are far less than our competitors’. So you receive superior quality of work for a low, fixed monthly fee.

Financial Planning, HR and Payroll, News, Tax Planning

2013 Year End Update:

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2013 was a great year! Here some highlights:

Our Payroll Service: 

One of our client saved more then $100,000 in payroll processing fees by switching to our payroll service.

 If you are using ADP or Paychex or a payroll leasing company for your payroll processing, we can lower your fees by up to 75%.

With our online payroll Service you can:

 1.  Electronically transfer your payroll into your accounting software (QuicKBooks, Peachtree, etc).

2. Automatically allocated payroll to different classes (locations, departments, jobs) in your accounting software.

3. Keep tract of vacation and sick days accruals through our payroll service.

4. Employees have online access to their pay stubs.

If you want to use our payroll service for next year, call us as soon as possible so that we can set you up for the service.

 Please paste the link below into your browser to see a brief demo of our payroll services.

http://www.managepayroll.com/demo/FlashDemo/ACClientFlashDemo.html

 We Welcome Referrals:

 Did you know we can help you or any of your friends, family or acquaintances save time and money with their financial records? Not only is it nice for us to receive your referrals, we LOVE to reward our clients for referrals…!

 Just so you know, we have policy that if an existing client refers two or more new clients, we will reduce your fee by 10% and then progressively higher. Although some existing clients do not want a reduction, we still make it available.

 Year End Business and Individual Tax & Financial Planning Meeting:

 As we are in the last quarter of the year, we would like to schedule a meeting either on phone or in person to discuss year end tax & financial planning opportunities for you and your business. Call or email us to schedule a meeting today.

 Call or email us to schedule a meeting with our Financial Planner today.

 If you want us to look at your investment portfolio, we will be more then happy to do that. It is the best time to have an investment strategy with proper asset allocation  to reduce your investment risks and to maximize your returns. Call or email us to schedule a meeting today.

 In the free one hour meeting with the Financial Planner will cover the following 10 items:

1. Income Tax Planning & Strategies

2. Investing in stocks, bonds, & Mutual funds, Annuities, Oil & Gas programs

3. Investing in Real Estate (in and outside retirement account)

4. Retirement Planning (IRA’s, 401(K) etc)

5. Education planning for children & grandchildren

6. Asset Protection

7. Estate Planning (Need for wills & Trusts)

8. Long Term Care

9. Insurance Planning

10. Business Planning

Free Business Check-Up

 We are so convinced in our superior approach that we invite all prospective clients to come visit our offices and undergo our free no-obligation “check-up” of your business or individual health. We certainly believe that knowledge has a liberating power and sometimes even knowing what the possibilities are, can lead to meaningful change in your personal or business financial health.

We encourage you to call us and make an appointment and see for yourself the difference a perspective can make.

 

Follow SK Financial on Twitter & Friend us on Facebook

Keep up with us as we continually extend and improve our services and publish useful tax and financial planning information on our blog.  We’re now using Twitter and Facebook to connect with our customers, it’s a fun and easy way to stay abreast of the constant changes in our business.  Watch our blog for future updates as we discuss how you can deploy these social media tools to grow your business.

 

Tax Tips

Sitting Down with a Tampa CPA and Preparing for Next Year

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Tax time can be a stress filled time of the year for everyone. For both business owners and individuals alike, the race is on to file on time and accurately, to maximize deductions and to minimize penalties. The slightest mistake on tax forms can cause a company to lose out on valuable deductions, and being late by a week can add up in interest. Whether it is business taxes, personal taxes, or both, between January and April, everyone is pressed for time, trying to get all their paperwork in order to meet that April 15th deadline. After everything is filed, all that needs to be done is to wait and see if everything goes through as planned. By the time September rolls around, often the last thing on peoples’ minds is sitting down with their Tampa CPA and reviewing their tax plan for next year.

With no deadlines looming, September is the perfect time to do a financial performance review with your Tampa CPA.  With the details from last year’s returns, including any missed opportunities and prior losses, fresh in mind, it can be beneficial for everyone to start thinking now about what they want for next year’s taxes. For both business owners and individuals, starting the tax planning process in the fall works greatly to their advantage in the spring.

Having regular quarterly consultations with your Tampa CPA can benefit any business.  From planning for any potential tax issues that may come up, to doing a financial check up and ensuring your business is on the right track, to doing tax research on your behalf, so that you and your business can maximize your after-tax income. A consultation ahead of time can help you plot your course for next year.

And even if the taxes that need to be planned are strictly personal taxes, a consultation with a Tampa CPA months ahead of time, can yield great results. From income splitting to maximizing family and household deductions, being proactive with tax planning can pay off for individuals.  CPA’s can help structure your cash flow to help you pay for things such as vacation homes, education, and discovering which investments are best for you.

And, if you are in the market for a new Tampa CPA, now is the best time to look. As many offer free consultations, you can shop around and see which one meets your business, personal, or family’s needs, without the rush or pressure that comes from looking at tax time. You will have the opportunity to review their credentials ahead of time and ask around and determine which CPA you chose to hire. The right CPA is as crucial to your financial health as a doctor is to your physical wellbeing.

Tax time doesn’t need to be stressful. Sitting down with a Tampa CPA now, in September, rather than waiting until March or April, can benefit anyone. With no deadlines looming and no pressure to file on time, individuals and business owners alike can take the time to make the right decisions for their specific needs.

CPA

An Accountant in Tampa Can Help Your Business Dreams Soar

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As a business owner in Tampa, Florida, you’ve got a lot on your mind. You’re extremely good at what you do, but the heart of a business can’t keep beating without all the peripheral things that keep the money flowing: bookkeeping, human resources, taxes, financial planning. There’s so much to keep track of that it can seem overwhelming when you’re trying to live your dream of building, selling, creating, repairing and generally getting wonderful things done. But, as a smart business owner, you know that one of the best ways to get things done to their maximum potential is to delegate to an expert. That’s why many business owners look for accountants in Tampa to help lift the burden of finances from their business.

There are several reasons an accountant in Tampa in an excellent business choice. The factor that draws many people to look for an accounting expert is the problem of time. Dealing with money takes time, and correcting financial mistakes can take a lot of time. And let’s face it: money is math, and not everyone has a talent for math! Who wants to spend hours or even days tracking down a mathematical error when a qualified accountant can do the job quickly and correctly, leaving you headache-free?

Correctness is also an important factor that makes an accountant in Tampa a decision that business owners won’t regret. Beyond the fact that accountants are probably better at dealing with numbers than anyone else on your staff, they know all the tricks to avoid errors and simplify processes that don’t need to be complicated. An accountant won’t make the mistakes that a beginner would, and they will most likely be willing to help you make their job easier by showing you fast and easy ways to handle your finances.

Last, but absolutely not least, many Tampa business owners choose to hire an accountant in Tampa because accountants can help your business make money. How much money? You may be surprised! Accountants have more tricks up their sleeves than just making your bookkeeping and HR department run smoothly. They can implement tax strategies that can help you make money all year long. They know where to look for money leaks and how to stop those gaps for you. An accountant in Tampa is as much an expert at their job as you are at yours, and with their help, your business has nowhere to grow but upwards!

There are many different ways to go into business in Tampa. Whether you’re running a small shop or a big corporation, whether you’re selling computers or fixing cars, whether your dream is to serve the perfect burger or to build homes that will last for generations, you’re in it for the dream as much as for the money. So why not give yourself the extra time (not to mention the extra money) to chase that dream even further? An accountant can help your business climb higher than you ever thought possible. Look up an accountant in Tampa today and see how far your business dreams can go!