How Real Estate Affects the Bottom Line for Restaurants
By Christopher Perez
Perhaps the most striking feature about the money made by homeowners from their house was how little of it was intentional. For many, a mortgage payment was simply a substitute for the monthly rent payment. But over time, loan balances went down, values went up, and suddenly there's a half a million in equity sitting on the table. Although a similar opportunity exists for restaurants, few owners take the leap. Running a restaurant is challenging enough, why add the ...<< MORE >>
PayPro Services Acquires Allied Business Capital
Claremont, California - November 14, 2008 -- PayPro Services on Wednesday said it has acquired Allied Business Capital, a business lending and merchant processing company, for an undisclosed amount. As a result of this acquisition, small business owners in Southern California will now have access to the working capital that is so badly needed in this economy.
PayPro Services, a division of Claremont-based Reece Capital Ventures, LLC, said it had finalized its agreements with privately held Allied Business Capital and will operate it as a wholly owned subsidiary of PayPro Services until all integration can be completed. However, Allied Business Capital will immediately move its management and sales operations from West Covina to PayPro Services’ offices in Claremont.
PayPro Services will now offer lending solutions to small business retail and restaurant locations throughout Southern California. Most of the current Allied Business Capital programs available to small business owners are not credit driven and do not require traditional financial statements to qualify. They boast a 90% approval rate for their clients and as fast as 7 days to receive the funds. Currently, PayPro Services offers small business payroll, employer tax filings, and workers compensation insurance.
"In addition to strengthening our small business service offerings, this acquisition will help us to increase and diversify our market share as we continue to grow the business,” said ReeceCorp’s Chief Executive Edgar W. Reece, parent of both Reece Capital Ventures, LLC and PayPro Services.
By allowing these ventures to gain access to desperately needed working capital, PayPro Services hopes to keep these vital small business owners operating long enough for them to take advantage of a changed economy in the near future.
About PayPro Services
Using state-of-the-art processing systems, PayPro Services was created to provide comprehensive and affordable big business payroll services to small businesses. PayPro Services was founded by Edgar W. Reece through the venture capital firm Reece Capital Ventures, LLC. PayPro Services and Reece Capital Ventures, LLC are subsidiaries of ReeceCorp, a diversified international corporation. Visit on the web at www.payproservices.com.
About Allied Business Capital
Allied Business Capital is a California company and a finance service provider. It provides short term working capital for merchants in all 50 states. Allied Business Capital is managed and staffed by industry veterans with extensive experience in restaurant finance and small-to-medium-sized retail industries and collaborates with a full-time staff of financing professionals across the nation. Visit on the web at www.alliedbusinesscapital.com.
About ReeceCorp
ReeceCorp, an international diversified holding company, currently operates a number of ventures including technology consulting and management, real estate investments, asset management, venture capital funding, multimedia publishing, and online small business payroll services.
Contact:
Jeremy Cooper
PayPro Services
909-912-8595 ext. 6020
jcooper@payproservices.com
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Affordable Payroll Services
http://payproservices.com/services.html ...<< MORE >>
Workers' compensation payments made easy
Getting hurt on the job can be painful. Paying your workers' compensation insurance premiums doesn't have to be.
PayPro Services has teamed up with The Hartford to bring you XactPAY® — a workers' compensation payment service that works with Hartford-issued policies and makes it easy to pay premiums after each payroll.
Whether you already have a Hartford policy or want to switch from another carrier, there's no better way to stay on top of your premium payments.
Stay In Control Of Your Cash-Flow
- Pay premiums one pay-period at a time
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Exempt and Nonexempt
Exempt and nonexempt refers to an employee’s status under the FLSA (Fair Labor Standards Act). Employers are not required to pay exempt employees minimum wage or overtime premiums. Nonexempt employees must be paid minimum wage and overtime premium for all hours worked over 40 per week. Exempt employees primarily perform office or nonmanual work, academic instruction or training, regularly assist a proprietor, exercise discretion, use independent judgement, and spend less than 20% (40% in retail or service industries) performing nonexempt work. Typically, nonexempt employees work is routine with predefined standards and rules. Nonexempt employees generally do not exercise discretion, ...<< MORE >>
Employee vs. Independent Contractor
In 1987, the IRS developed a list for its auditors to use to determine if an individual was an employee or an independent contractor. The measure of control an employer has over its workers is the determining factor. If the employer controls the results of the work and not the day to day performance of the task, then the individual is probably an independent contractor. If one answers yes to any of the questions below, the individual may be an employee and not an independent contractor.
1. Does the employer give specific instructions as to how the job ...<< MORE >>
Get hiring documents right - or suffer the consequences later
Prepare to hire your first employee
Get hiring documents right - or suffer the consequences later.
(FORTUNE Small Business) -- Dear FSB: I am opening a new office. What documents am I going to need to prepare in order to hire my first employees?
- Denise Haney, Orem, Utah
Dear Denise: The paperwork you'll need depends on what type of employee ...<< MORE >>
Get expert advice on locating software that works for you
Solve 5 top accounting annoyances
Get expert advice on locating software that works for you.By Susan G. Hauser
FSB -- Kate Spontak, president of MKS Consulting (mksconsults.com) in Ridgefield Park, N.J. gets an earful from disgusted clients every day. They gripe to her if the accounting software they just paid an arm and leg for is nothing but a pain in, well, some other body part.
It is her business to steer small business owners away from lemons and to recommend the best system to ...<< MORE >>
How does an employer determine the employment status of a worker?
Unfortunately, the answer to this question is not a simple one. The determination is based primarily on subjective tests, or questions, around the amount of control the employer has over the worker. If the employer maintains "enough" control over the worker, then the worker is classified as an employee.
Generally, a worker is classified as an employee if the company can control what will be done AND how it will be done. A worker is classified as an independent contractor if the company can control what will be done but NOT how it will be done.
A simple example: ...<< MORE >>
What basic payroll and employment records must be maintained?
Maintaining the following information in your employee master file will meet IRS and FLSA requirements:
- The employee's name, as it appears on their social security card, and date of employment
- The employee's complete address
- Date of birth, if the emplyee is under 19 years of age
- Payment date and the starting and ending dates of the pay period
- The employee's workweek (start and finish times of the workweek and days worked)
- Number of hours worked each workday and each workweek
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