If you’re like most small business real estate owners, you’re too focused on providing quality care to pay detailed attention to your payroll processes. So, you might run the risk of leaving your employees disgruntled and maybe even bumping into legal issues. Fortunately, payroll services for small business ventures lend you professional help and setting you and your team up for success.

Below, we’ll get into some of the most common payroll problems small businesses face and how professional payroll help can assist you.

4 Common Payroll Problems for Real Estate Businesses

1. Payroll Tax Compliance

When you execute payroll for your company, you need to make sure you follow tax laws at the federal, state, and local levels.

Most of the time, businesses that have employees on their payroll withhold taxes on behalf of those workers. Each paycheck, a certain percentage of the employee’s pay goes to the government to cover federal and state taxes, as well as social security and Medicare funds.

The amount withheld should vary based on the employee’s individual tax circumstances. So, you can’t just withhold the same percentage of taxes from every employee.

State tax requirements also change from place to place. For example, some states require employees to pay income tax, while others don’t. Plus, payroll tax becomes more complicated when you have employees working in several states. As the employer, it’s up to you to know these requirements to remain tax compliant.

Likewise, your local area likely has its own set of tax requirements. Together, all these factors complicate payroll to the point that many business owners find themselves making mistakes.

Fortunately, having a professional payroll account manager on your side makes the process much easier and ensures legal compliance. And this type of service doesn’t have to be expensive, either! In fact, Block Advisors offers you access to professionals who can help you stay compliant, no matter how many employees you have.

2. Employee Classifications

Many real estate company managers work with both full-time employees and independent contractors. Your payroll obligations change depending on the classifications of the people you work with. So, you want to make sure you’re classifying your employees correctly in order to run payroll smoothly.

When you choose Block Advisors for your payroll service, you have the opportunity to better classify and manage payment

Their plans vary in price, starting at $59 a month for self-employed people and entrepreneurs who work solo. For a bit more service, you can get the Plus plan for $79 a month, plus $10 monthly per employee. Small businesses who want the most HR assistance can get all of Block Advisor’s tools and payroll services for $140 per month, plus the extra $10 a month per employee.

And now, you get their payroll services for free for a month with the code PRFREE!*

3. Multiple Expenses

If your real estate business works with a brokerage firm, you probably owe fees and split compensation with these professionals.

Likewise, most real estate companies work with contractors such as electricians and plumbers to keep your properties in tip-top shape. These types of deals make payroll more complicated than it would be in other types of businesses.

The experts at Block Advisor can help you pay these workers and stay compliant. They offer easy-to-work-with contract payments and comprehensive reports starting at $79 a month.

4. Managing Overtime Work Hours

Taking care of your real estate properties is around-the-clock work. If you work in the real estate business, you likely will find yourself or your employees working outside of normal hours. In addition to real estate work requiring a massive time commitment, unexpected incidents sometimes occur outside of office hours. For example, even the most well-cared-for properties occasionally get leaks or have damage that needs to be immediately fixed.

Payroll experts can help you keep track of your employees’ time worked and dispense the proper amount of pay to your employees.

Payroll Services for Small Business Real Estate Owners

As you can see, having a payroll expert on your side helps you remain compliant and solve many common problems. To best help you select a plan, though, here’s a breakdown of what Block Advisors offers:

• Basic (starting at $59 per month) – The Basic plan is great for people who only employ themselves. This plan includes your own accountant to help you navigate single-state tax requirements. You’ll also get  a guided set up and standard reporting features.
• Plus (starting at $79 per month, plus $10 monthly for each employee) – This option is designed for small businesses with one or more employees. It includes everything in the Basic plan, plus state tax registration services, in-depth reporting, help with contractor pay, and W-2s and 1099s.
• Premium (starting at $140 per month, plus $10 monthly for each employee) – This plan includes everything in Plus and HR tools, timekeeping, and workers’ compensation.

Help for Your Business

No matter which payroll plan you choose, having professional help on hand will free you up to focus on the rest of your work. Plus, having payroll experts allows you to have your questions answered and make smarter financial decisions. As a result, you have more bandwidth to plan out the future of your company.

*Get your first month of Payroll, free. Mention promo code: PRFREE during your consultation. Free month of payroll services for new clients only. Valid 12-month engagement letter required. After the application of the discount in this offer, you will be charged monthly at the amount in the engagement letter. Discount may not be combined with any other offer or promotion. Available virtually and at participating locations. Void if transferred and where prohibited. Discount code must be presented prior to purchasing payroll services. A new client is an individual who has not used H&R Block or Block Advisors for payroll services. No cash value. H&R Block employees are excluded.