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Stress-Free Payroll Is Just a Click Away
Running a business is complicated, especially if you're a first-time small business employer. Don’t get overwhelmed — get the help and support you need to accurately and efficiently calculate payroll taxes. Our free employer tax calculator simplifies the process and reduces the legwork and hassle of doing it all yourself.
As an employer you’re responsible for the following taxes:
- Medicare Tax $-
- FUTA $-
- State Unemployment Tax $-
- Employment Security Enhancement Assessment (ESA) $—
- DISABILITY TAX $—
- State Specific Tax $—
Tired of calculating paychecks on your own?
Make running payroll easier with Incfile.
Small Business Accounting Software
To make things easier for yourself and to save money, you'll want to review business accounting software options that will enable you to track and monitor your incoming payments and outgoing expenses. There is no right or wrong answer here, but doing some research will help you decide on which type or brand of software to use for your small business accounting needs.
Here are a few tips for things to look for in your search:
- Automation to help you reduce errors
- Accurate reporting to provide full visibility
- Simplified KPI access to improve performance
You can also check out reviews of top software options to see which come recommended by experts.
Challenges of DIY Bookkeeping
You might be wondering if you should tackle your bookkeeping at all or whether it's best left to professionals — and that's okay! After all, unless your business actually is accounting, chances are you didn't start out on your venture with the dream of dealing with copious amounts of numbers and tax codes.
Small business accounting comes with challenges that can be frustrating to many owners, the least of which is simply ensuring accuracy in your reporting. Mistakes can be costly as you might end up owing penalties and interest on accidentally unpaid taxes, and coming up short at the end of the month is no picnic.
What If You Take a Business Accounting Course?
Many small business owners may elect to take a business accounting course to help them understand the many nuances of bookkeeping best practices, and these types of courses can provide a lot of information that will help to keep things on track and organized.
That said, there are only so many hats you can wear at once, and if you're itching to simply provide value to your customers through the sale of products and services, schooling might not be high on your list of priorities.
Should You Hire for Business Accounting Services?
When starting out, many business owners won't have the capital to invest in professional bookkeeping services, though there are many options to fit every budget. You don't have to hire a large accounting firm to manage your mom-and-pop shop, and even as you grow, there are relatively inexpensive ways to hire out for business accounting services.
For example, Incfile's Accounting and Bookkeeping service is a great way to stay on top of your incoming payments and outgoing expenses without breaking the bank, and the best part of all is that we'll grow right alongside you.
Whether you choose to hire a professional or stick to DIY bookkeeping solutions, remember to stay focused on what you do best. If that's accounting, great — but don't lose sight of the main reason you started your business in the first place!