0413: The Ugly Truth About Doing Your Construction Company Payroll

<h1 style="text-align: center;"><span style= "color: #0000ff;"><strong>This Podcast Is Episode Number 413, And It's About The Ugly Truth About Doing Your Construction Company Payroll</strong></span></h1> <p><span style="font-weight: bold;">Still Doing Your Payroll?</span></p> <div>At face value, it seems like a great idea.</div> <div> </div> <div>If you're a small construction business owner with just a few employees, you probably think hiring a payroll specialist is an expense that you can avoid. </div> <div> </div> <div>You feel that you can handle it yourself. You have the best intentions to keep your staff paid and on time. What could go wrong, right?</div> <div> </div> <div>Well, lots. Here are 3 reasons why you should stop:</div> <div> </div> <div><strong>It's a time waster</strong></div> <div> <p><span data-preserver-spaces="true">If you don't have a finance background, you'll likely spend a substantial amount of time calculating employees' work hours, computing for taxes and other deductions, creating payslips, processing, and filing.</span></p> <p><span data-preserver-spaces="true">Even if you have a bit of a bookkeeping background, are you sure you want to spend your precious time doing these tasks instead of focusing on your construction business's core aspects?</span></p> </div> <div> <p style="font-weight: bold;">You don't need to study the ins and outs</p> <p><span data-preserver-spaces="true">Sure, you can learn about relevant tax adjustments and benefits procedures if you want to. But then again, you'd be spending more time educating yourself, not to mention the possibility of making costly mistakes. </span></p> <p><span data-preserver-spaces="true">On the other hand, a payroll specialist knows the ins and outs of taxes, overtime, contributions, sales commissions, and bonuses. The bottom line is: another professional can do it better, and while they're at it, you can get back to doing what you do best-- like growing your construction business!</span></p> <p style="font-weight: bold;">It may cost y