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7 Financial Strategies for Transitioning from Salaried to Solo
Copyright 2005 Success from the Inside Out
A 40’s something woman was talking to me the other day about her growing sense of frustration with “working for someone else” and her longing to “do my own thing, drive my own wagon”. But, she said with...
Local Taxes
Local taxes are an even further extension of the federal income
tax withholding, just on the local level. Businesses that
operate in a particular state will generally be able to access
information their particular locality through their...
The Millionaire's Favorite Author
YOU WON'T FIND W.G. HILL ON ANY BEST SELLER LISTS, BUT IT'S HARD TO FIND A MILLIONAIRE WHO HASN'T READ MOST OF HIS $100 "SPECIAL REPORTS".
Hill's Low Profile -- The name W.G. Hill isn't bandied around much in the book-publishing world. No...
THE MOST OVERLOOKED WAY TO LEGALLY DECREASE TAXES IN 2005
By Tim Merrell, the Dental Guy copyright 05-2005 I rushed upstairs dodging the toys, two small children and a border collie. I grabbed the phone just before the answer machine kicked on. “Do you know how much I had to pay IRS this year?” was the...
Understanding Employee Taxes
Employee taxes can be one of the most difficult to understand
areas of running a business and hiring employees. If you don't
understand all of the complexities involving employee payroll
tax, it can also get you into a heap of trouble.
The...
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New trends create an alternative to hiring employees
Current trends in business are conspiring to create a revolution in the way that small and medium sized companies do business. These forces have created an environment in which growing companies can make maximum use of their labor dollars, while accessing a talent base previously unreachable due to the costs involved with hiring top talent.
The first trend is towards self-employment. Entrepreneurship is at an all time high. According to a study by Register.com Inc, 47% of U.S. adults have taken initial steps toward starting their own business or supplementing their income. However, once out of the corporate world, many small business owners find that they have budgets too small to access the level of talent that they took for granted in the corporate environment. A small business owner will typically have to choose which skill set is needed most when deciding to hire. In other words, the decision to hire is driven by a need for human resource, administrative, financial, marketing, sales, legal, skills etc. The problem, of course is that the budget of a small growing company will often require a choice as to which specialty is needed most, to the exclusion of the others, while also limiting the level of professional one can hire.
A second trend is the emergence of Virtual Assistants. Virtual Assistants are typically some of the professional level people mentioned above, who have left the confines of corporate America to start their own businesses. Virtual Assistants are independent contractors who work from home providing a variety of services to businesses. This trend allows these highly skilled professionals to bring their knowledge to bear for a whole range of companies that would otherwise not have access. While VA's were once limited to more administrative tasks, they now encompass the entire spectrum of professional skills. If it can be done from home, there is a VA doing it.
This leads to the inevitable question- how do VA's find employers, and how do employers find VA's?
Enter a Virtual Staffing Service. With a virtual staffing service, the VA's have already been interviewed and
screened and are ready to hit the ground running. The benefits of using a staffing service include a backup VA when your individual VA is on vacation or sick, you may discover that you need assistance with marketing which your particular VA does not offer but rather than start the search process again, all it will take is a quick call to your staffing service and they will have a VA ready for you the next day. One of the main advantages of utilizing the services of a staffing service is that you can choose the VA from a variety of resumes and if there is a problem you will be able to switch VA's easily.
What companies are starting to appreciate is that Virtual Assistants cost companies a fraction of the cost of actual hires. A company employing Virtual Assistants can utilize the services of a whole range of professionals instead of having to choose which specialty is needed most as the company grows. For the cost of one salaried Administrative Assistant, a business owner could utilize approximately 1400 hours of assistance divided among any number of top professionals. Utilizing Virtual Assistants allows businesses access to the exact services that they need, it also allows businesses to shift gears more quickly and efficiently by investing in growth rather than payroll because they are paying only for the time spent on their project. There is no longer a reason to worry about taxes, benefits, vacation pay, and time wasted by the water cooler.
More and more businesses are coming round to the idea of Virtual Assistance; it's a win-win for everyone involved. It gives businesses the help that they need without the hassle of hiring a full-time employee.
For more information please contact:
Grainne Foley
A Job Well Done
www.ajwd.com
Charlotte, NC
P: 704.341.9542
Grainne Foley, a former Human Resources Manager is the owner of A Job Well Done, a virtual staffing service created to provide top level virtual professionals to businesses. Complete information on services offered can be found on her web site. Don't forget to subscribe to her FREE newsletter, "A Virtual Revolution".
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| Internal Revenue Service |
| The US government agency responsible for tax collection and tax law enforcement. Includes income tax forms, instructions, and agency publications. |
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| Tax - Wikipedia, the free encyclopedia |
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| Taxes & Estates, Tax and Estate Planning Advice - Forbes.com |
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| Taxes - Tax News for Home and Business from CNNMoney |
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| The Tax Foundation - Educating Taxpayers Since 1937 |
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| www.taxfoundation.org |
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| Welcome to the Vermont Department of Taxes |
| Welcome to the Vermont Department of Taxes... ... Changes to Property Tax Adjustments in 2007 - updated 10/18. - Tax Expenditures Transition Report on ... |
| www.state.vt.us |
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| Franchise Tax Board Homepage |
| The department that collects state personal income taxes and bank and corporation taxes for the State of California. Access to forms and tax information. |
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| HM Revenue & Customs: Home Page |
| News and information on tax and national insurance, including downloadable leaflets and forms and the latest news on filing tax returns on-line. |
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| Tax news and advice from Bankrate.com |
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| Online Tax Advice - Tax Preparation Help - Income Tax Tips |
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