Payroll Resources Every Organization Should Have
If you're going to have a fully professional,
knowledgeable and competent payroll staff, here are some investments that
you should make:
1. A Big Book o' Payroll - There are only a
couple on the market - RIA's Principles
of Payroll Administration, and the American Payroll Association's Payroll
Source. They both cost about $200. I own both of these
fine publications, but I prefer RIA's. It seems to be clearer, much
more well organized, and has better examples. But regardless of
which book you choose, you must have a Big Book o' Payroll. Don't let your controller tell
you that your company already has a "tax" book (probably
something like CCH's Master Tax Guide). It
doesn't cover anywhere near the detail you're going to need regarding
employment taxes and fringe benefit taxability. And forget about
employment law! In addition, there
are CD and online based products available from many of the legal
publishers, but count on them being much more expensive than just a Big Book o' Payroll.
Their value is the ability to search, but you may find that of only
marginal value.
2. A payroll newsletter - There are several
on the market and the one you chose is a matter of opinion.
There is some repetition between all of them so, unless you're a
consultant or trainer or have lots of time to read them, I'd only
encourage you to get one. See above regarding objections you'll get from your
controller. They'll think their generic tax newsletter
newsletter is good enough.
3. PayrollStuff.com - Obviously, we'll try to
keep this site up to date with the links and
other online resources you'll need. And we'll try to let you know,
via the main page, of the latest big, hairy and obnoxious news.
4. Seminars - This may sound a little
self-serving, but you should go to payroll seminars. A good approach
might be to go to two a year: a general payroll update and a specific one, like
garnishments. Even if you think you're an expert, seminars help to keep you fresh, network with other payroll professionals, get
different perspectives, and challenge your thinking. Many
organizations and companies offer them at a variety of prices.
Remember to check out local law firms and CPA firms too. They often offer free or low cost
seminars to drum up clients. And OK, if you want to come to ours,
that would be alright with us.
5. A good wage and hour lawyer, garnishment
attorney, and a good employment tax accountant - You should line these
folks up now so that they're available when you need them. Note that
we're talking specialized professionals. These subjects are very
esoteric and a general lawyer, or even a tax accountant, is not necessarily going to
know the things you need them to know. So do the research now and
find some. And they may offer free or low cost newsletters.
Remember, they're looking for clients - namely YOU.
6. American Payroll Association - They give
you discounts on newsletters and education, and they send out a nice
magazine. They have local chapters around the country with
networking and additional education opportunities. But
you will get DROWNED in direct mail, fax blasts, and email. If
you're a full time payroll person, you should probably join. If
you're only involved in payroll part time, then the organization may be
too much for you. Learn more on their website.
7. Multi-state employers - If you're in more
than one state, then you should have a multi-state payroll law book
(preferably two since they often disagree with each other) and a
multi-state garnishment book. Be careful that the information in the
garnishment book is not repeated in the multi-state book.
8. Free newsletters - Subscribe to
these. We've listed a few, there are always more out
there, particularly from CPA's, law firms, payroll services and software vendors.
9. Web sites - Make sure you have some
familiarity with your state, the IRS and the
US DOL Web sites. The Federal sites can be a little confusing.
Eventually, you'll get the hang of them. And then they'll overhaul and rearrange
everything so you have to relearn the site all over again.. And your state may have
a wonderful site...or not. Bookmark them and get to know them
anyway. There's great free and authoritative information if you're
prepared to dig and explore.
10. Trade association - Many issues in
payroll are related to what industry you're in. And your trade
association knows these (or should). They can give you information
on enforcement actions that are being taken in your business, customs,
popular payroll software, and best practices. And it doesn't hurt
your status with the boss if you take an interest in the business.
Review the association's Web site and get on the distribution list for any
publications.
10. State chamber of commerce - Sometimes
these organizations can be excellent sources of information on employment
law and taxes. Sometimes not. Often though, even if you're a
member, it'll still cost extra for access to those articles of interest.
11. Google.com - If you can't find the
information you're looking for any other way, you'd be amazed at what you can
find at this fantastic search engine.
Just type in the key words to the topic you wish to research and you'll
probably find some good information.
And here are a couple of extra resources that may or
may not be useful, depending on your situation.
12. Online payroll discussion groups -
internet forums offered by the APA
and www.payroll-taxes.com are
available. However, be very careful about the information you
receive and how you use it. Wading through the messages can be time
consuming, and the answerers are not always that knowledgeable (except for
a couple of really sharp people who always respond). However,
recognizing those limitations, these services can be useful. If
nothing else, you'll probably find out about the latest payroll news, tax
changes and bizarre cases before anyone else!
13. A full payroll library - RIA
and other publishers offer comprehensive online and CD services giving you
access to a wide range of interpretations, treatises and
regulations. If you have a big company, multiple states, or a
complex payroll, you may want to consider one of these services.
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