My first audit

[swyman]

Curse you Matt (just kidding) just had to bring that up since you brought audits up in your love spat with mds! It's for my workers comp, sure they do it to everyone after their first year. Should be very educational since I am probably not doing everything correctly, I can't be but sure I will learn real quick. I asked my agent/accountant what to do when I started and he just told me to pay my help cash since I am not yet full time. This will probably bite me in the ass but I trust him, he's in business for 30+ years and does all the big business people in 3 counties. What can I expect, I do want to do things correctly so I hope it will be constructive. Any thoughts?

 

[sgreanbeans]

Duck!

 

[2treeornot2tree]

Here in PA, you get audited every year for workers comp. I just had mine. I printed out quartly reports for the guy for last year and he meet me at a job, and he looked over the papers, I signed his paper and we were done in 5 mins.

If you have workers comp, i dont know why you would want to pay your workers cash. You would have no record of paying them, collecting taxes and what not. Plus you are gonna pay the income tax on the money you are paying your guys. You have to show some kind of payroll if your gonna have workers comp insurance.

 

[dbl612]

workers comp.

Here in PA, you get audited every year for workers comp. I just had mine. I printed out quartly reports for the guy for last year and he meet me at a job, and he looked over the papers, I signed his paper and we were done in 5 mins.

If you have workers comp, i dont know why you would want to pay your workers cash. You would have no record of paying them, collecting taxes and what not. Plus you are gonna pay the income tax on the money you are paying your guys. You have to show some kind of payroll if your gonna have workers comp insurance.

first priority-new accountant (this guy works for the big guys - whew!) good luck.

 

[arbor pro]

If you have work comp pay employees by check. Get quickbooks. Makes all that payroll stuff
easy.

 

[swyman]

If you have work comp pay employees by check. Get quickbooks. Makes all that payroll stuff
easy.

Sounds like a good idea. I love electronic anything, still haven't broke down and bought a iPad yet but think that, invoice2go, and a WiFi printer ran off an inverter in the car would be the cats azz. Last year when I started I did a lot of jobs alone then picked up my cousin who is a union lineman that was a traveler. After a month he landed a steady contract job with a local utility for 3 years. Then one of my wifes high school students but after a month had to go to school. A lot of turn over but I now have a real good steady and think he will be with me for a while so I need to do things right for both our benefits. The school kid just called also and I told him I'll put him to work too. Hopefully when my feet hit the ground it will be grab the check and go! Thanks for the input SL

 

[mikewhite85]

You can do payroll through your bank too. Costs me about 35 bucks a month and is so easy. Tallies up everything to prepare for audits. I turn in payroll every 6 months here in CA for my comp. I would like to do it more frequently since it gets to be such a huge bill (approx 40% of gross for climbers). They let me classify groundies as landscapers for 15%. Saves me a ton of money.

 

[pdqdl]

I have commented on this topic before, so I'll just post a link: http://www.arboristsite.com/arborist-101/67482.htm#post1005519

There are other good ideas in that thread too.