Eye on Business: Q & A with Fred Melton

Fred Melton

Owner, Fred Melton Consulting of Owasso , OK

Payroll Processing

As a payroll processing consultant, Melton handles payroll and tax reporting for small and midsize companies all over the U.S. The business was opened in 2005 and Melton received his professional training from Time Plus.

What are some challenges your customers face?

Changing Tax Laws

Time required to properly do payroll – on average small business spends 60 to 80 hrs per year on payroll.

Compliance Issues along with costly interest and penalties for failing to comply.

Misclassifying Employees

The IRS fines 1in 3 businesses per payroll tax violation costing on average $845.

Are there any new trends in the payroll processing industry?

Outsourcing Payroll – Forbes magazine estimates outsourcing of payroll to be a 15 billion dollar industry. More and more businesses are choosing a payroll service to relieve the burden of staying in compliance with all of the tax and Dept. of Labor regulations.

What are your personal thoughts about how our current tax system affects small business owners?

Very complicated – IRS, State and Local tax laws are ever changing, staying on top and in compliance becomes increasingly difficult.

What kinds of services do you provide?

Payroll by Check, Direct Deposit and Pay Card.

Payroll Tax and Reporting

On Line – Web based payroll solutions

Electronic Timekeeping

Over 800 Reports – Can be Generated in any Custom Date Range Including Across Quarters and Years

Export Reports into Excel, Word and PDF

Tip Reporting & Shortfall Tracking for Taxes and Deductions

Electronic or Paper Reporting for Federal, State and Local Taxes

EFT Payments to Vendors, Child Support Agencies & Unlimited Direct Deposit per Employee.

Fully Integrated Human Resources Module

G/L (Peachtree, Quickbooks) and Job Tracking Features ( ADA , Certified Payroll)

How may our readers contact you?

(918) 272-4108 Monday through Friday 8:00 am to 4:00 pm (Central Standard Time) info@timeplusok.com