Do you know some of the top compliance issues for small business owners in New York? I'm Nancy Schick of Third Ear Conflict Resolution. I'm an employment attorney and mediator based in New York City where I've had my practice for the past 21 years. But although I do employment law, I often end up working with clients on various issues that arise in small businesses.
So I want to first remind you that you need to be looking at things like unpaid taxes. I've had an increase in clients calling because maybe they can't afford their payroll taxes. Maybe their payroll company forgot to submit the payroll tax payment for them or sales tax. They weren't having that withheld and that added up. It meant that they had a lot of their working capital now paid out in taxes. That was a system error.
We see something similar that happens with things like misclassifying workers. As you know, that's a hot topic that I talk about a lot and that's because again I get it.
Small employers are trying to save money, a lot of times, by misclassifying someone as an independent contractor. You think you're saving money up front, but what really happens is you later get that huge tax bill from the state, and if you don't have workers compensation, disability, paid family leave insurance, you're not paying for sick pay, then you may see a host of penalties that wipe out not just what you saved, but more.
And then third, I'm seeing an increase in breach of contract. It also comes back to those issues of cash flow. So it's the cash flow that we deal with. It's the overwhelm of trying to do everything ourselves and that lack of qualified support. You know, making sure that you're not just screening your employees carefully, but your vendors.
If you're not sure how to do that, it is exactly why I created these videos and I will continue to create them. So make sure you hit that subscribe button below. Comment if you have issues that you'd like to see me address.
Here's a link for my website, which has a lot of free resources: thirdearcr.com/.
Bottom line is: I'm here for you. I want you to succeed. You just let me know how I can support you. And, of course, keep listening with your third ear for those hurts you can heal.
6 сен 2024
