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Information to bridge the gaps
The Case Against DIY Payroll
Payroll processing is complex, requiring the preparer to stay current with federal, state and local laws and regulations. Payroll requires not only paying employees but also withholding, reporting and paying social security, Medicare and income taxes. Some small businesses categorize payroll service fees as an unnecessary expense. My view is that payroll service providers save time, improve compliance and reduce risk.
Why You Should Care About Client and Vendor Concentrations
Investors and lenders are interested in the customer and supplier concentrations of companies. This is an important disclosure in financial statements that can reveal business risks. Concentration risks are not exclusive to large-publicly traded companies. As a business owner, you need to try to manage your own risk from concentrations.