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6 - Simplifying Payroll: Expert Tips for Small Business Owners with GetPayroll's Charles Read
Manage episode 425382548 series 3568884
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Your host, Traci Bermingham, talks to the President and CEO of GetPayroll, Charles Read. Charles is a seasoned certified public accountant with over 50 years of financial leadership experience. Charles has worked across various industries, including manufacturing, IT, and logistics, and is also a decorated combat veteran, a community servant, and a professional poker player.
One of the key themes was the importance of correctly classifying workers. Misclassification can lead to severe penalties and interest from the IRS and state authorities, potentially putting your business at risk. Charles emphasized the legal implications of misclassifying workers as independent contractors instead of employees, which can result in hefty fines and back taxes. The IRS and state authorities are vigilant about ensuring taxes are correctly withheld and paid. Employees are more likely to pay their taxes compared to independent contractors, which is why tax authorities prefer workers to be classified as employees
To learn more about Charles' work at GetPayroll, click HERE and HERE.
Think you'd be a great guest on the show? Apply HERE.
Want to learn more about Traci Bermingham's work at Goaldi? Check out her website at https://www.goaldi.com/.
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