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Payroll: What You Need To Know In Speech Therapy Private Practice

If you have employees, check out Intuit Payroll. I have used this payroll service for years. I know there are other services out there; However, with 35 employees on the books, I like to look at all of the numbers, reports and keep a close eye on what goes out of the businesses twice monthly. In this episode, I talk about running payroll, taxes, and other aspects of paying employees in a timely manner.

In this episode:

01:20 – 6700 listeners
03:21 – At the base of the Catalina Mountains
04:10 – THE PERFECT STUDENT
05:45 – You will get good information
06:21 – With my payroll system I can run payroll anywhere in the world
07:37 – It gives me reminders for when I have to send tax payments
07:54 – Responsible for paying unemployment insurance
09:09 – You can send the employee an e-mail and it has their pay stub
12:57 – You’re going to have Workman’s comp insurance when you have employees

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If you have employees and want to simplify your Payroll process and want to automate it, definitely go check out intuit online payroll. It said payroll.intuit.com; they also have an app for your smartphone where you can do a lot of this on your phone as well. It’s not as detailed as the desktop version but the desktop version is definitely doable.

[Commercial]

 
Well, Hello everyone! You’re listening to the Speech therapy Private practice Startup Podcast; this is episode number 19. My name is Kyle Meades and I’m a speech pathologist since 1993 and these podcasts are designed to help you improve your business and your life one podcast at a time.

Welcome back to the show. As always thanks again for all the emails, tweets, the mentions and the comments. I really appreciate it, because it lets me help you guys better. And as of today’s recording this is October 12, 2016 we have over 6700 listeners to the show and for those of you who have been here since day one, you know that’s a big deal, we started out with 3. And it’s really amazing to see this thing grow. It’s such a blessing and pleasure to be able to serve you guys, to help you guys grow and scale your Speech therapy private practice; and its just fun to grow.

Anyway, if you hear some barking in the background we’ve got kind of a zoo at this house. We’ve kind of turned into this animal shelter kind of a thing here. My other half is involved in rescuing animals and I’ve never been a cat guy but now I’m the owner of four cats, we’ve got Mabel, cinder Kitty, Boudreaux and we’ve also got Bill and then we’ve also got two wiener dogs, one is a small miniature Wiener dog, her name is Daisy. You’ll hear her in the background now stirring up trouble. The other dog we just got last night, his name is Captain Nemo and we are Captain Nemo’s third home. His original owner passed away, then he went to a foster home and then from the foster home he was adopted by an elderly lady who actually just went into a nursing home yesterday. So we just inherited Captain Nemo and he’s a standard wiener dog he’s a black wiener dog and he’s funny; he’s whining and whimpering outside my office door now so if you hear any noise that’s Captain Nemo and when you hear barking in the background that’s Daisy. Daisy stirs it up, she’s nuts. But anyway if you hear background noise that’s our zoo and that’s what we do here, so it’s kind of crazy.

mabel-the-speech-therapy-cat

I just open the front door because the weather’s nice and cool this morning, they’re probably saying good morning to all the dogs walking by in the neighbourhood where we live. We’re in kind of the north central area of Tucson Arizona. We are at the base of the Catalina Mountains so it’s a nice beautiful hilly area with lots of trees and cacti and people are always walking out here walking their dogs, so I think everybody saying good morning to everybody. Good morning to you guys too or wherever you are in the United States and the world for that matter.

What’s interesting about all the listeners again we have over 6700 listeners and it is kind of neat it’s not only from the United States and Canada, it’s Australia, the U.K, India, Israel, Ghana, Philippines, I mean it’s all over, it’s really nice to have this listener base. Also I wanted to remind you guys if you are interested in being mentored by me, if you wouldn’t mind send me an email kyle@privateslp.com make sure you put THE PERFECT STUDENT in the subject line. Tell me what you want to accomplish in your speech therapy private practice, are you just building your speech therapy private practice or starting out or you scaling it and growing it. Do you have employees, how many patients in treatments are you seeing every week? I mean give me some background information because that’s going to help me help you better.

And again like everything a relationship has to be a good fit between both parties, so once you send me that e-mail l’ll shoot you another e-mail and we’ll discuss some details. I might even pick up the phone and call you because I want to make sure that you guys are in the position to learn. Not everybody can handle this kind of information because again this is designed to help you supercharge and grow quickly. This is not like reading a book or listening to podcasts, you’re going to actually get on a plane, dedicate some time, fly into Tucson and work with me hand in hand and I’m going to show you how to set up an outpatient clinic, how to get your computer set up, how to get all these aspects set up, how to get your billing taken care of, how to get your accounts receivables, how to bill, how to collect it and how to set up your phone systems, how to generate referrals. All of that’s going to be discussed; this is designed to help you grow, scale and be successful.

So if you would like to work with me, shoot me an e-mail kyle@privateslp.com again the subject line THE PERFECT STUDENT and I’ll get back to you. This isn’t a free service, this is going to cost you some money, but you will get good information and you’ll get access to me on weekly calls, you will not be disappointed. So again that’s for certain people who really want to supercharge their practice, also I’ll show you how to run a home health company because we have another company as well that does home visits in the community, so I can show you that too. Again payroll, all that’s included in this, so if you have any questions kyle@privateslp.com, shoot me an e-mail.

Speaking of Payroll today is payroll and I’ve got to get to the office pretty quick so I can run payroll. Well with my payroll system I can run payroll anywhere in the world because it’s done remotely via a website and it’s a service through intuit and that’s going to be today’s topic, it’s Payroll. If you have employees you’ll know what I’m talking about. Payroll can be pretty complicated; it can be a pretty daunting task but if it’s done right it’s pretty easy and it’s taken me a while to get everything the way I want it, but I wanted to talk to you today about Intuit online payroll, that is the service that I use in our clinic or actually both businesses; we have an outpatient clinic we also have a home health company and between both of those businesses we have thirty five people on the payroll.

So what I do is I pay my employees twice monthly and the payroll system what it does it generates an e-mail that says, “Hey, payroll is due on this date by five o’clock.” So what I do is I have Kristen who is our Guru Scheduler and Office admin assistant she gets all the Timesheets together for me in the day of payroll like today she gives me those folders and I take that information and I plug it into the system. Also too what’s neat about intuit payroll is it gives me reminders for when I have to send tax payments to the state and also to the federal government and it’s all done electronically. So I don’t have to write any checks anymore, I don’t have to put envelopes in the mail, it’s all done automatically.

Also when you have employees you’re going to be responsible for paying unemployment insurance and also you’re going to have to file certain forms, and all of that is taken care of by Intuit payroll. It’s a very good deal and if you also have a Costco membership you’ll get a discount when you sign up. So I wanted to mention that because it’s a very good solid system. For example, when I pay my taxes I have to go in and I click on taxes tab and then I have a federal unemployment tax that I need to pay, I have a state tax and a federal tax. It’s all taken out of my checking account because in the settings tab you can hook all of those up to your business account and if you go back to those first episodes I show you how to set up your business checking account and get your tax ID number, all that information is put into this system. Also if you need to give your new employees forms, let’s say you need to know what their deductions taken out of their check like for their federal taxes or their state taxes, all of these forms are available on Intuit Online Payroll, you can just print out a form or electronically give your employee those forms to fill out in the new hire packet.

Also it’s kind of neat once you run your payroll, you can send the employee an e-mail and it has their pay stub, it’s not actually on the e-mail but they have a certain website that they log on to and it’s all confidential and compliant and they can get their pay stubs online, so you don’t really have to have a check service where you have to give that employee a physical check, it’s all done through automatic deposit. I mean you can write a check and I’ve done that before, we’ve had some unfortunate events where we’ve had to let go of some employees and I’ve had to write them a check that day, it’s very simple, you just go into the online payroll system and generate a check and you can print out a pay stub and it doesn’t have to be a special check it’s the same checkbook that you have for business and you write the employer check and print out the pay stub, put it in an envelope and you can give that to the employee. But all of this is in Intuit online payroll, now there are many services out there and I know that there are white glove services where you give your payroll over to someone else and they do everything, they take care all that but for some reason I still like to see what employee is working what hours and I like to look at productivity and so I still like to look at all the numbers and in Private Practice is the fluid process and it’s always changing and maybe one day when I get to forty or fifty people on payroll I’ll turn that over to a white glove service but for right now I am still going to use Intuit online payroll.

I enjoy it, I get to see what’s going out of the business through payroll and again it does all my taxes, I can go into the employees tab and change things like the basics like an address or the e-mail address that they’re going to get their payroll stubs emailed to or if I want to give someone a raise and I do that I can go in there and change their pay per hour or per visit, I can change their status from active to not on payroll, it also tracks if you’re compliant with the I-9 forms, the new hire reports for the state. You can change people’s taxes and exemptions, their federal filing status, their Arizona or State filing status, their tax exemptions, you can also put in different kinds of deductions and contribution, because in our business we have healthcare, vision, dental, 401K with a match, we do offer that for our full time employees in the clinic, so we have those benefits available. All that can be put into Intuit Payroll; we also have vacation and holiday pay, so that’s all in the program as well. So you can put notes, let’s say if you have a supervisor like a speech pathologist who’s supervising in some Speech therapy assistance you can put information on their pay-stub that says, “Hey, I’m paying you extra for supervising 48 visits for this pay period.”

So all of that is very customizable and it’s very doable and that’s why I like it. I’ve used intuit online payroll for years, I don’t get anything for saying anything on this podcast about Intuit online payroll, I just like it and when I like something I want my listener audience to know about it. So if you have employees and want to simplify your Payroll process and want to automate it, definitely go check out intuit online payroll. It said payroll.intuit.com; they also have an app for your smartphone where you can do a lot of this on your phone as well. It’s not as detailed as the desktop version but the desktop version is definitely doable. I’ve never missed a payroll, I’ve never had any problems, everything is seamless and again for two companies and 35 people on the payroll it does a great job.

Also, when it comes to reports if you have Workman’s comp insurance, obviously you’re going to have Workman’s comp insurance when you have employees, there are places where you can run reports because you’re going to get audited every year for workman’s comp so they can rate you to either charge you less or charge you more with comp insurance, it’s part of the Private practice process. So what I do is I go to reports, there’s a section here where you can run reports and I give those reports to the Workman’s comp insurance company, so all that stuff is in here and it’s a great service.

I hope you guys are finding these podcasts interesting and I hope it’s beneficial for you and if you have employees definitely check out Intuit online payroll. So as always this is Kyle Meades and Thank you for listening.

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