If you’re like a lot of ecommerce business owners we’ve worked with, you’ve probably avoided hiring anyone in your business until you absolutely have to. Hiring strategically is important. However, deciding how to classify your new hires can be ambiguous at times.
An employee handbook serves as documentation of your procedures and practices, a key factor in your business’s health. Moreover, it sends a strong message to anyone you hire about your company’s core values.
Creating an employee handbook doesn’t mean setting your business in stone. An employee handbook can change numerous times, as often as your company’s practices and policies do.
Tax benefits aren’t the only advantage to being an S-Corp. Another little-known benefit is that you can set up health insurance under the S-Corp and deduct your insurance premiums as “self-employed health insurance.” Nice, right? But you can only do this if your ”self-employed health insurance” is included in your W2 wages. In other words, it’s important to get a tax professional’s advice in setting it up right.
Hiring before you’re ready can spell disaster for an eCommerce or Online Business owner. It can drain both your finances and your energy, not to mention wreak havoc on your long-term vision. So, how do you know if you and your business are ready to hire?
When you run an online business as a couple, it’s important to make sure that both spouses are being rewarded for the time and effort they put in. For some couples, the best way to accomplish that is to put the other spouse on the payroll. If you and your sweetie are considering this issue, here are five things to think about.
If you’re going to pay someone for doing some work for you, you’re going to find yourself processing payroll. And like so many aspects of small business, the first time you do it can involve a lot of confusion, uncertainty, and crossing your fingers in hopes that you’ve done it right. To make payroll processing easier (and more secure) the first time around, here are 5 things you should know before you bring on your first employee.