An estimated four in 10 business owners farm out management of their payrolls. But many, including Kerry Koletar of Baltimore, are coming face to face with a downside of that strategy. The 44-year-old bookkeeper, whose family opened its flower shop five decades ago, figured the Internal Revenue Service had made a mistake when it informed her last year that the business owed $22,000 in unpaid employment taxes.
Morrisons says the majority of its staff have been affected by the theft of payroll data. BBC business correspondent Emma Simpson has been told that details of around 100,000 employees have been stolen. The information, which includes bank account details, has been published online and sent on a disc to a newspaper, according to the firm.
The rate of workers' payroll taxes, which fund Social Security, has been 4.2% for the past two years. As of Jan. 1, it's back to 6.2%, on the first $113,700 in wages. That forced Mike Brey, who owns four Hobby Works shops near Washington, D.C., to notify his store managers about the upcoming change during a conference call Monday.
Payroll Service Australia is part of the Accounts and Advice Group, a well established team of accountants and bookkeepers based in the Melbourne CBD.
