While working on my degree, one of my accounting classes talked about payroll. We also learned how to calculate paycheck withholdings. This transaction has a well defined formula; the steps are straightforward. I didn’t understand why would it ever be an issue for anyone. Then I started talking to friends that ran their own businesses and the difficulties became clear.
Payroll Rules
Many cities and counties are drafting their own regulations surrounding minimum wage, paid time off, and overtime. The uncertainty of how these laws apply to individual businesses, can make compliance a nightmare. As a result, the laws that apply where the business is located may not always pertain to your employees. This is especially true if services are provided in other cities. These challenges make it almost impossible for a business owner to do the right thing.
Local Changes
In the last few years, we have seen cities in Washington making some of these changes. Seattle and Tacoma were some of the first to vote in paid time off and minimum wage laws specific to their cities. In the upcoming year, however, our state lawmakers have added another layer of confusion to the issue by adopting their own rules surrounding paid time off. The Labor and Industries Department will be holding webinars over the next few weeks to make sure that business owners are fully informed of these changes.
Let Us Help
If you are feeling overwhelmed, or just want to ensure that you are compliant, give Sound Accounts a call. We make it our job to stay up to date on the most recent changes in rules and regulations. In fact, Sound Accounts will be attending one of the webinars put on by Labor and Industries to do just that for our clients. We can then review your records to ensure compliance and free you to do what it is that you do better than anyone else: being the reason your customers are keeping you busy.
