This video shows Josh Pather discussing the issues he had when he started his business. The main issue he had was business payroll. He shares a real-life story about what happened to him to help others avoid the situation.
He also talks about one of his favorite applications used to run payroll.
When he started in 2012, he interviewed accountants because he is not an accountant. Josh advises that you consult a payroll or tax advisor and an attorney. You want to make sure all the appropriate taxes are being withheld. He had an accountant help him run business payroll when he first started, and the person used an old school system of paper and manual deductions. It was not an effective system.
The type of entity you have for your business dictates the business payroll that you need to run. Gusto is the application that Josh prefers and uses to run his own payroll. The setup is easy, and you can run payroll in just a few minutes. To be a legitimate business, you must run payroll.
