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Payroll: The Accountant’s Key to Unlocking Stronger Client Relationships

Payroll: The Accountant’s Key to Unlocking Stronger Client Relationships

By Chris Rush, Division Vice President of Strategy and Business Development for ADP’s Small Business Services Division To many clients or small business owners, payroll can seem like yet another piece of an already complicated puzzle. Recent changes to federal, state and local laws on overtime rules, minimum wage and paid sick leave have made this task even more complicated, increasing the risk of noncompliance fines for employers. As they adapt to regulatory changes and anticipate more in the future, small businesses are looking to their accountants to manage the payroll process. And that’s good news. In fact, according to a recent ADP white paper, 43 percent of accounting professionals indicate that payroll is one of the most profitable segments of their business. By adding payroll services to an existing suite of accounting options, accountants can meet the demand of clients who want to better understand their payroll and how they can streamline it. At the same time, payroll can open up new opportunities, allowing accountants to increase the...

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Small Biz is Everybody’s Biz

Small Biz is Everybody’s Biz

All too often, we take local shops in our communities for granted and only realize their value when one day we notice they’ve closed their doors. Were it not for the dedication, passion and commitment of today’s small business owners and their families, the warm feel of downtown areas would be lost forever. Small businesses also create a significant number of job opportunities and boost the economy of their communities. Did you know that small business owners alone added more than 680,000 jobs to the U.S. economy so far this year, according to data from the ADP Research Institute®? In addition, the most recent report from the Small Business Administration published in June 2015 showed that small businesses with up to 49 employees contributed the most to job growth in 2014 by generating 39 percent of net new jobs. This compares to 34 percent by firms with 50-499 employees and 27 percent by firms with 500 or more workers. It takes long hours, tremendous commitment, and incredible tenacity to...

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Time Off, ACA Regulations and Your Small Business Clients

Time Off, ACA Regulations and Your Small Business Clients

John Haslinger, Vice President of Strategic Advisory Services recently caught up with Taija Sparkman, Assistant Editor of CPA Practice Advisor while they were both at the Midwest Accounting Show, in Chicago, IL on August 23. They discussed how the Affordable Care Act continues to be a challenge for many business owners and how, as a trusted advisor, accountants can help them better understand this complex regulation and its IRS reporting requirements. “There is a real opportunity for accountants to be more consultative in how they approach the ACA with their clients. ACA compliance is a huge burden for businesses with less than 200 employees and they may not have the same resources as larger corporations. By differentiating in services for small businesses and knowing who the key players are in the field, accounting professionals have a real opportunity to provide value-added service to their clients,” said Haslinger. To learn more, read: Time Off, ACA Regulations and Your Small Business Clients Share this:Click to email (Opens in new window)Click to...

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How Can Startups and Entrepreneurs Compete in the War for Talent? With a PEO

How Can Startups and Entrepreneurs Compete in the War for Talent? With a PEO

It’s no secret that starting and running a small business is no small feat. Business owners are often pulled in what feels like a million directions — striving to ensure the business is growing, clients are happy, and that they actually get to sleep at night (or at least some nights!). But if you ask many entrepreneurs, they will tell you the one thing they never imagined would be so hard was managing their employees (even if they only have two) and providing the HR and benefits today’s top talent requires. As the workforce continues to undergo significant generational shifts and increasing competition in the war for talent, startups – by sheer nature of their size — are faced with challenges in delivering the attractive benefits that come more easily to larger organizations. As a result, working with a Professional Employer Organization (PEO) is a popular option that many entrepreneurs are considering. ADP TotalSource®, the largest PEO in the United States with more than 400,000 worksite employees, has traditionally...

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Winning the War for Talent: BDG CPAs Shares their Challenge – and Their Insight

Winning the War for Talent: BDG CPAs Shares their Challenge – and Their Insight

“You feel that, when your head hits the pillow, you’re doing the best by your employees.” –Neil Della Torre, Founding Partner, BDG CPAs. The accounting profession, like many industries, is currently undergoing a “workforce revolution” where many in firm leadership are taking a close look at their culture and employee engagement techniques. Why? Because they recognize the critical need to combat an industry talent shortage driven by a steady stream of retiring Baby Boomers exiting the accounting business. To fill the void, CPA firms like Becher, Della Torre, Gitto & Company are looking to attract Millennial talent. But we are seeing that the priorities and values most important to this rapidly changing workforce have shifted substantially. Specifically, the demands of Millennial employees have moved away from high salaries to priorities such as work/life balance and benefits that are offered. “Our firm model is to recruit students that could go with a ‘Big Four’ firm. ADP TotalSource® makes our firm more competitive in the market place for staff accountants as...

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