Monthly Archives: October 2013

You Might Need a Payroll Service If…

You chose to not become a CPA or a bookkeeper because you had other dreams and passions.  You are building a thriving business around those dreams and passions. Unfortunately, the mundane details like taxes, accounting, and payroll are a necessary evil.  Payroll and tax administration are time consuming and sometimes unpleasant endeavors to small business.

There are so many regulations and agencies that need to be accounted for in the payroll process:  SUTA rates, FUTA rates, Federal taxes, Social Security, and FICA are just the beginning.  However, this is not an area of business that you want to neglect! Withholding taxes is one area in which the law will allow the Internal Revenue Service to pursue the business owner personally for any unpaid liabilities.

Focusing on these items takes valuable time away from your passion — your guests and their experience in your establishment. What if there was a simple and easy way to avoid these tasks?  You could then re-invest that saved time back into building the business you love! Maybe more importantly, what if there was a way to know your business and your family were safe from tax penalties and levies by knowing that all returns were filed and taxes paid accurately and on time?  How do you keep “employee business” from getting in the way of your real business?

The answer is a qualified payroll service.  It will not only free you up to spend time on your core business, but they will also ensure that returns are filed promptly and payments made when due. Because the payroll service will take the necessary taxes when taking the funds to pay employees, you know the funds have been set aside without having to plan for it yourself.  It feels almost “automatic” to you as this myriad of details is happening “behind the scenes” in what feels to you like one easy transaction each payroll period. Then, there is the security that, in the event of an error, a qualified payroll service is responsible for correcting any issues with the agency involved.

There are two types of payroll service platforms.  Both the Professional Employer Organization (PEO) model and the Administrative Services Organization (ASO) offer comprehensive administrative payroll services. However, they differ in level of service and in level of responsibilities for the employer.  They can also have different pricing structures.  How to choose? A qualified expert with years of experience can evaluate your unique business, situation, and experience and guide you to the right service model. Like everything in business, it comes down to an informed cost-benefit analysis.

At CapRock Services, we can decrease your workload and your worry by handling your payroll and tax administration with our nation-wide payroll platform. Whether you are brand new to the industry, or a seasoned professional, we have payroll and workers’ compensation solutions that allow you focus more time on your business. Our service even allows you to greatly minimize the impact on your business from future unemployment and workers’ compensation claims. Plus, you will have access to support 24 hours a day, 7 days a week with our comprehensive Human Resource hotline.

If you would like a quote or more information on Payroll Services provided by Caprock, please feel free to call us at (866) 962-4922, or email CRPayroll@caprockservices.com.

If you would like more information on Payroll Services provided by Caprock, please feel free to email John McAchran at jmcachran@caprockservices.com.

Liquor Liability – The Facts

Liquor liability insurance is defined as coverage for bodily injury or property damage caused by an intoxicated person who was served liquor by the policyholder. The breadth of liquor liability coverage varies by state because each state has its own interpretations and evidence requirements of who is legally liable in the event of an injury to a third party.

  • Dram shop liability or social host liability, holds a social or commercial host liable for injuries inflicted on a third party by an intoxicated guest of the host’s event or establishment.
  • Forty-four states and the District of Columbia have enacted dram shop liability laws or statutes that extend to social or commercial (retailers) hosts.
  • In some states, every bar in which an intoxicated person drank can be pulled into a lawsuit if the person causes bodily injury to a third party. The establishment must prove that the patron was not or did not appear intoxicated while there.
  • Other states require proof that the establishment sold alcohol to the intoxicated individual, injuries were sustained, and the injury was the direct result of the individual’s intoxication.
  • The Center on Alcohol Marketing and Youth (CAMY) report states that 54.3 percent of binge drinkers who reported driving after their most recent binge drinking episode drank in an on-premises, retail alcohol establishment such as a bar, club or restaurant.
  • In February of this year, ISO (Insurance Service Office) revised the liquor liability exclusion contained in its general liability forms to address “bring your own” alcohol establishments. The new exclusions now have an exception for insureds that are not considered to be “in the business of serving, selling or furnishing alcohol under the scope of the liquor liability exclusion simply by allowing someone to bring and consume their own alcohols on its own premises.
  • Many insurance companies offer discounts on liquor liability coverage to establishments that provide alcohol awareness education and training to employees.

The bottom line for business owners who serve alcohol – You will be held responsible if guests are served alcohol in your business and then go on to cause property damage or bodily injury. So, what can you do to protect yourself?

  • Train your employees above and beyond what your state requires for alcohol awareness.
  • If you don’t have video surveillance in your business consider getting it. It may give you a defense for liquor liability, general liability, and employment practice litigation.
  • Empower your employees to follow all state regulations to avoid over serving any guest in your business, including employees/owners who are off duty.
  • No patron’s business is more important than strictly following state dram regulations. A few extra dollars in the till at the end of the night will never be worth the devastation from a drunk driving incident.
  • Please contact us at 214-216-0225 or email Mona Carpenter at mcarpenter@innovativenationalrisk.com if you have any questions.