Payroll Compliance Made Easier

By David Hogan Executive Director of Major Accounts, Heartland Payment Systems | July 15, 2012

Co-authored by Mark Strippy, Executive Director of Payroll Services, Heartland Payment Systems

Payroll is one of the most important and tax compliance laden aspects of running a hotel business, but it is also an area which can lead to a variety of consequences if not done correctly. Though many hotel business operators tend to stay updated on compliance regulations, many also choose to work with a trusted payroll processer to remain ahead of changes to ensure that their hotel business is fully compliant. Whichever solution is chosen, it's imperative to stay informed and be nimble to adjust and act accordingly.

Payroll Compliance: Your Business is Liable

In 2011, the U.S. Court of Appeals for the 8th Circuit ruled that two owners of a trucking company and its subsidiary were personally liable for more than $2 million in payroll taxes that were not paid, allegedly due to misconduct by their bookkeeper. The bookkeeper embezzled funds from the company and failed to pay payroll taxes for 30 consecutive quarters. While the owners sold the assets of the trucking company a few months later to pay its employees and creditors, they failed to remit the outstanding payroll taxes to the government. That failure led to $2.3 million in penalties levied against the owners by the Internal Revenue Service.

Last year, a former Joplin, MO, owner of a temporary employment agency and a residential management company was sentenced to prison for three years and was ordered to pay back $6 million to the IRS for failure to pay payroll taxes.

Scenarios like these are not isolated to one or two industries, or to specific size companies or organizations. Throughout the United States, there are various other stories and examples of business owners losing it all or being heavily fined due to failure, either by them or their bookkeepers, to rightfully pay payroll taxes.

Choose a Social Network!

The social network you are looking for is not available.


Hotel Newswire Headlines Feed  

Lawrence Adams
Amy Locke
Brandon Edwards
Paolo Boni
Kathleen Pohlid
Michelle Wohl
Melissa Maher
Michael McCartan
Michael McKean
Steven Belmonte
Coming up in June 2019...

Sales & Marketing: Selling Experiences

There are innumerable strategies that Hotel Sales and Marketing Directors employ to find, engage and entice guests to their property, and those strategies are constantly evolving. A breakthrough technology, pioneering platform, or even a simple algorithm update can cause new trends to emerge and upend the best laid plans. Sales and marketing departments must remain agile so they can adapt to the ever changing digital landscape. As an example, the popularity of virtual reality is on the rise, as 360 interactive technologies become more mainstream. Chatbots and artificial intelligence are also poised to become the next big things, as they take guest personalization to a whole new level. But one sales and marketing trend that is currently resulting in major benefits for hotels is experiential marketing - the effort to deliver an experience to potential guests. Mainly this is accomplished through the creative use of video and images, and by utilizing what has become known as User Generated Content. By sharing actual personal content (videos and pictures) from satisfied guests who have experienced the delights of a property, prospective guests can more easily imagine themselves having the same experience. Similarly, Hotel Generated Content is equally important. Hotels are more than beds and effective video presentations can tell a compelling story - a story about what makes the hotel appealing and unique. A video walk-through of rooms is essential, as are video tours in different areas of a hotel. The goal is to highlight what makes the property exceptional, but also to show real people having real fun - an experience that prospective guests can have too. The June Hotel Business Review will report on some of these issues and strategies, and examine how some sales and marketing professionals are integrating them into their operations.