Many small business employers are rethinking their employee’s compensation in light of the recent tax reform.  Certain industries, like transportation, will be hit harder than others.  Be proactive and review your policies so that your employees don’t suffer a shock come tax time. What Changed There were many significant changes with the recent tax reform… Read More

Oklahoma is an “at-will” employment state.  So firing employees is simple, right?  WRONG! Several instances can result in legal problems.  Read More.     Have tipped employees?  The US Department of Labor has just issued new regulations regarding tip pooling and the tip credit.  Read More.     Department of Labor recently issued new standards for… Read More

Payroll Input-tulsa-business-consulting-tulsa-accounting-lawton-financial-services-oklahoma-city-accounting

Payroll is the system used to calculate employee paychecks and although companies can handle payroll in a variety of ways, each system requires inputting certain employee information. Calculating Hourly Wages Whether a company uses an in-house computerized payroll system or outsources to a service, each system requires basic information about their employees, including names, bank… Read More

Filing 940 and 941 Forms | Tulsa Business Consulting

Most business owners are required to file Form 940 and Form 941 each quarter. Failing to submit the appropriate documentation can lead to significant fines, so if you are a business owner and have questions or concerns about tax preparation, accounting, payroll, bookkeeping, or other financial issues, it is important to contact an experienced team… Read More

Time Clock Solutions | Tulsa Payroll Services | Lawton Payroll Services

In the past, most companies used manual methods of timekeeping to ensure that the payroll process was completed properly. However, as technology has improved, more and more businesses have begun using web and software-based programs. This has helped increase efficiency and accuracy in both large and small businesses across the nation. It can be difficult… Read More

First Employee | Tulsa Consulting | Tulsa Business Consulting

Question: I just hired my first employee, what paperwork needs to be filled out? Answer: Paperwork for new employees can be separated into two categories.  First, the paperwork needed from the new employee.  Second, the paperwork needed by the employer. The paperwork needed from the new employee includes a federal Form W-4 and Form I-9.… Read More

Tulsa Payroll Services | Oklahoma City Accounting | Lawton Financial Services

Everyone surely heard this year that the due filing deadlines for their individual tax return were April 18, 2016, due to Emancipation Day falling on April 15 in the District of Columbia.  This due date also applied to other tax forms and payments such as the Form 941 payments.  For a taxpayer that makes monthly… Read More

Track Salaried Employees | Oklahoma City Accounting | Lawton Financial Services

Recently I had a conversation with a client who was evaluating additional ways our company could help his. In the course of the discussion, I asked him how he tracked his employees’ time. His response was VERY typical. “I pay everyone salary, so I don’t need to.” This is a common misconception and one that… Read More

Tulsa Payroll Services | Oklahoma City Accounting | Lawton Financial Services

Many business owners found out that having “independent contractors” instead of employees saves you money in payroll taxes and worker’s compensation insurance. Many times I’ve heard a business owner complain that everyone else is doing it in their industry, and they can’t remain competitive if they pay those costs. So why should the business owner… Read More

Oklahoman Beats the IRS | Tulsa Financial Services | Oklahoma City Accounting

In a recent Tax Court case, a salon owner in Ardmore, OK prevailed against the IRS in classification of her salon technicians and massage therapists. The IRS had tried to establish that these individuals were in fact employees and the salon, therefore, was liable for all of the unpaid payroll taxes. Factors that the Court… Read More