home office

How to Run a Business: Home Office Edition

Knowing how to run a business means staying on top of your finances. This is true even if your business is in your home. Perhaps you are a freelancer who works alone or an entrepreneur with employees.

Your home business or freelance career relies on many factors. The ones most in your control are managing your finances and business taxes correctly. To do it, there are three ways to play it smart.

  • Keep your paperwork organized.
  • Be sure to get the right tax forms filed on time.
  • Get help to prevent an amateurish and costly mistake.

Keep Your Home Office Paperwork Organized

If you are an entrepreneur, you and you alone are responsible for staying on top of your paperwork. It is essential to come up with a solid system for ensuring that all your business information is organized and accessible for when tax season arrives. If your business is bigger than one person and you have employees, you probably need professional bookkeeping help.

Many home office systems are available to help you keep your business information in line. This includes your income, expenditures, payroll, all your official business information, and more. Of course, you want to be proficient in the software you choose; otherwise, you may make costly mistakes.

A professional business tax preparer, like those at Slaton Financial Services, already has the software needed to keep you on track. That’s one reason so many small businesses rely on us for bookkeeping and tax preparation.

office homeKnow What Forms Apply to Your Home Business

Filing your taxes as an entrepreneur or as a self-employed individual can feel overwhelming. You should learn in advance what forms to file and make sure to maintain your records to meet those requirements.

Choosing the right tax form depends on many factors. These include the official legal designation of your employment status, whether you are a business owner, freelance worker, or otherwise self-employed.

It is also vital to remember that these forms may have different deadlines for tax preparation. This is the second reason to make sure you have the right forms early and can be prepared to act when it’s time to do so. If you don’t, you may have to repeat the entire process of filing your taxes with extra fees or penalties for missing the deadline.

This problem is even bigger for the home business owner who has employees. Even though you are working from home, you can’t afford to handle your bookkeeping, payroll and taxes like an amateur. Taking a professional approach to all of these issues is essential to staying in business.

Consider Outsourcing Your Bookkeeping and Payroll

All of this is a confusing and complex topic, especially if you are trying to tackle it alone. For this reason, many small business owners prefer to work with financial professionals who can handle bookkeeping, payroll and taxes. It’s less expensive than hiring a full-time employee to handle your finances, and it is just as effective, maybe even more so.

With the pros at Slaton, your home business can be conducted with the same professionalism as a big business. This ensures that you not only file your business taxes correctly, but also reach the proper deadlines and supply the right information — the first time. In other words, it eliminates the guesswork.

When finances are secure and all issues are dealt with up front, a business owner can spend his or her energy on growing the business, and a free-lancer can focus on snagging their next assignment. Please contact Slaton Financial Services if we can assist your small business with any daily, monthly or yearly financial tasks.

business tax extension

How to Deal with the Business Tax Extension Deadline

If your company missed the deadline to file for a business tax extension, we can help get your paperwork in order. There are different deadlines for corporations and LLCs. Some extensions are also automatically approved by the IRS, while others take time. With help from Slaton professional tax services, you can stay on top of business tax extension filing deadlines.

Missing the deadline is serious. If this has happened to you, don’t delay. Contact Slaton Financial Services right away to get help with filing your extension.

If you filed for the extension but you need help with your business taxes, we are ready and able to get them done and filed on time. You have six months to file, but you may need to know what your tax burden is much sooner than that in order to meet it.

IRS Business Tax Deadlines and Related Details

professional tax servicesThere are two filing dates for different businesses, and both have passed. This makes its crucial to act quickly to meet IRS requirements.

  • March 15th is the deadline for corporations and S corps to file an extension with the IRS.
  • April 15th is when single-owner businesses and sole member LLCs need to remember when they need an extension. It’s also the deadline for business partnerships and LLCs with multiple members.

If you filed an extension, keep these things in mind:

  • Most corporations receive automatic approval when they file a business tax extension before the deadline.
  • The extension gives you an additional six months to gather documents and file the business tax forms.
  • That six months is a firm deadline for almost every business. Corporations headquartered in the U.S. rarely receive an additional extension.
  • In some cases, businesses with operational offices overseas may have an extended grace period.

If you didn’t file your return or ask for a business tax extension, don’t delay. You will be charged penalties if you don’t act fast and get ahead of the situation. You need solid financial help from business tax experts at Slaton Financial Services.

How Professional Tax Services Can Help Your Business

Whether big or small, business taxes are complicated. You don’t want to rush through the paperwork and miss a deduction. Working together, we can utilize that extra six months, find all of the legal ways to save you money, and get ahead of any potential financial burdens due to taxes.

Running a business takes hard work, leaving you little time for tax preparation. That’s why so many Dallas and North Texas businesses trust the professional tax services from Slaton. Call now or use this convenient contact form.

 

 

Run a Business General Ledger

How to Run a Business: The Importance of a General Ledger

What is a General Ledger?

If you are just starting out, in business, you may be asking what is a general ledger? That’s a good question because a General Ledger is the foundation for all of your bookkeeping. You need to get that right if you are going to succeed financially.

The General Ledger includes accounting data posted from sub-ledgers, such as accounts payable, accounts receivable, cash management, purchasing and fixed assets. This is the place that you record your debits and credits.

Most businesses today have primary and secondary ledgers for accounting purposes. If your ledgers are incomplete, this will alter your company’s financial statements and result in inaccurate information.

Accounts recorded in a general ledger include:

  • Assets – this account is for items that add value to your business. For example, property, equipment, vehicles, copyrights, or trademarks.
  • Liabilities – this account is to keep track of the debts that your business owes. Some liabilities are mortgages, loans, money owed to vendors, or government agencies.
  • Revenue – this account should represent the total amount of sales profit that your venture earns during a certain time period. Revenue is earned from selling products, providing services, renting equipment, or leasing property.
  • Expenses – this account represents all the costs associated with running your business. This can include supplies, equipment, utilities, building maintenance, lease payments, payroll, etc.
  • Equity – this is determined by basically subtracting your current debts from your known assets.

Business General LedgerThe Connection Between General Ledgers and Business Taxes

Keeping balanced and accurate financial ledgers is crucial when preparing to do your taxes. Here are some basics of tax preparation. Consider using Slaton Financial Services for all your tax prep needs.

Rest assured our team at Slaton keeps up with all local, state, and federal guidelines. We are especially vigilant right now to stay on top of changing deadlines and other issues due to the worldwide pandemic. We can advise you on all the necessary records you need for your taxes. You will not miss any tax deadlines when you choose to go with Slaton to handle your tax preparation.

Call Slaton Today

If you want to get a leg up on the competition, consider outsourcing the general ledger and bookkeeping to Slaton Financial Services. We are trained and ready with the latest software available to keep track of your ledgers, saving you and your business time and money.

Call us today and let us take the responsibility of all your bookkeeping needs off your hands. If it’s after hours, you can fill out this contact form.

business tax extension

When do I Need to File a Business Tax Extension?

It’s that time of year again when everyone is talking about and possibly stressing out about their taxes. Sometimes a business tax extension is necessary, but it helps to plan ahead even if you only have a few weeks or a month before the deadline. Professional tax services can keep you on track and ready to file an extension.

Does your Company Need a Business Tax Extension?

Due to many reasons, some business owners want to file an extension. Some reasons are related to uncontrollable events like COVID or the destructive winter storms in Texas. Other reasons are business specific such as mergers & acquisitions, business losses, new leadership, or unexpected growth.

tax extensionDifferent Tax Deadlines for Different Businesses

  • Please note that the deadline for corporations and S corps to file was March 15.
  • Sole proprietor businesses and LLCs with only one member – deadline is April 15.
  • Partnerships and multi-member LLCs – deadline is April 15.

Approval for most corporations is automatic. However, you should check with a Dallas business tax professional to assist with the process.

An extension gives you an extra six months to complete and file your business tax return. The IRS typically won’t let you extend the tax deadline for longer than six months. However, in some cases they may allow longer extensions for businesses operating in a foreign country.

Other Tax Extension Information You Should Know

The individual tax extension is now May 17 instead of April 15. However, it does not apply to business.

Please note that victims of the February winter storms were granted more time. These businesses and individuals in Texas, Oklahoma and Louisiana have until June 15, 2021, to file. Be sure to get professional advice to be sure you qualify.

Slaton is Here to Help

Business taxes are too important and complicated to be done quickly just to meet a deadline. Here at Slaton Financial Services we have financial experts that specialize in taking the worry away from owners by not only preparing their complex business taxes, but offering invaluable tax advice for the future. From new businesses to old and established ones, we offer tax preparation that you can trust.

What Slaton can Offer:

  • Trusted financial service professionals
  • Reputable company providing business tax services since 1989
  • Clients never having to pay fees due to missed deadlines
  • Verification that the accounting is correct
  • Making sure that all exemptions are claimed
  • Knowledge of all state and federal guidelines
  • Staying up to date with pandemic-related and other extended deadlines
  • Beneficial advice for future tax planning
  • Utilizing advanced tax software
  • Other financial services for your company

Give us a call today at 214-343-0642 or email us at info@slatonfs.com to discuss why using our professional tax services will benefit you and your company. At Slaton Financial Services, we pride ourselves on being a great partner for you and your Texas business.

 

 

human resources

How To Run A Business: Human Resources

Whether you have a start-up or a successful business, you enter the realm of human resources once you hire your first employee. This is a rapidly evolving industry which many people think only includes hiring and firing when in fact it is much more.

In addition to hiring, human resources (HR) includes employee training, being well versed in employment laws, providing employee materials and manuals along with setting the tone for office environment and interoffice relationships.

There are many state and federal laws which have to be followed like your responsibilities under the federal employment discrimination laws as described by the U.S. Equal Employment Opportunity Commission (EEOC).

At Slaton Financial Services, our experts work with Dallas area businesses. Our efforts support their business, giving staff and owners more time to focus on the bottom line. Our clients are able to save money and time, while our Human Resources professionals make sure their business is following state and federal guidelines.

The duties of an HR department can vary depending on a company’s needs but the following are the main functions of the human resources department in most organizations.

employee schedulingHiring Employees

Human Resources includes recruiting, hiring and retaining employees as a primary function. The HR department must screen and interview candidates for positions. This may require administration of personality and skill assessment tests in order to make sure a person is the right fit for your company and the position. In addition, the HR department provides handbooks with detailed company policies and procedures. At Slaton, we are able to provide resources which can be customized for your company’s needs.

Training

Staff training and development is also the responsibility of HR. This includes creating training programs to present to new and existing employees as well as determining training needs of employees as required by departments and supervisors. HR is also in charge of hiring training leaders and taking care of training budgets.

Payroll

Human resources typically handles payroll for employees keeping track of their pay scale, deductions and pay date. Compensation programs like retirement accounts are also overseen by HR.

Benefits

All employee benefits are managed by human resources including varied insurances, disability, assistance programs and wellness incentives. The department is tasked with tracking employee medical leave and employee absences. There are usually materials developed by HR to detail job schedules and benefits for hirees along with exit information in case of a layoff or firing.

Employee Relations

The importance of HR is also tied to promoting healthy work relationships between employees and management as well as overseeing employee participation in company requirements.The department issues guidelines outlining proper communication and fairness within the company and its departments. It is called upon to handle issues that arise between employees and management or between the company and employee organizations.

Regulations and Laws

Interpretation and enforcement of employment and labor laws like fair labor standards, equal employment opportunity and work hour requirements. It is HR’s responsibility to investigate complaints of discrimination or harrassment making sure the company is compliant with U.S. Department of Labor regulations.

At Slaton, we want to partner with Dallas community businesses helping them to be successful. Call us today and let us tell you all of the ways we can support your company’s human resources. With our inexpensive plans that give you true HR assistance, you can concentrate on growing a successful business for you and for your employees.

 

 

 

 

Tax Preparation Service

How to Run a Business – Tax Preparation

One of the major duties of a business owner is tending to tax preparation. This can be difficult for small and medium businesses that don’t have the bookkeeping personnel to do the job right.

Business tax preparation is very time consuming. At a minimum, it includes estimated tax payments, completing the proper IRS forms, keeping documents in order and filing your company’s taxes. For your employees, you have local, state and federal tax duties including withholding taxes and preparing along with filing W-2 forms for each employee. If these tasks are weighing you down, Slaton Financial Services is the answer. Call during business hours or contact us now.

Depending on Slaton as your business tax preparation service comes with all sorts of benefits including the fact that our expert staff keeps up with all of those local, state and federal guidelines. With a worldwide pandemic to consider, we keep up with those changes as well. For instance, the IRS will open the tax season on February 12, 2021, which is past the typical start date. Furthermore, the IRS is asking taxpayers to file electronically this year if possible to help with the processing of tax returns.

Here are some basics of business tax preparation that you need to be familiar with as the CEO or owner of a business:

emphasize businessTax Forms

Choosing which form to file can be confusing. It all depends on your business and its legal designation. For a sole proprietorship or single-member LLC you will use Schedule C, Profit or Loss from Business attached to a personal income tax return using Form 1040. If you are in a partnership, part owner, or in a multi-member LLC, you will file Form 1065 – U.S. Return of Partnership income with Schedule K-1 attached.

If you need a corporate tax return checklist or are a multi-member LLC taxed as a corporation, then you use Form 1120. If your business is structured as an S Corp, you use Form 1120-S, U.S. Income Tax Return for an S Corporation. At Slaton, we make all of this easy for you by keeping track of forms, deadlines and requirements so you can concentrate on what matters most – your business’s bottom line. If you are our client, we are happy to get you the forms you need.

Record Collecting

You will need to gather all the information required to complete your tax preparation. Along with your taxpayer identification number, you will need to collect your income statement which includes your business income and expenses for the year, and the balance sheet which shows liabilities, assets and equity.

When entering information on your tax return, you have to work with factual numbers not estimates, and you need the supporting documents to prove the accuracy of your financial statements. Those documents should include payroll records, receipts, credit card statements and bank statements. You should also have copies of estimated tax payments made throughout the year along with last year’s tax return.

Tax Deadlines

Filing your taxes by the required date is imperative if you don’t want to owe fees to the IRS. So staying up to date on filing deadlines is part of the job of your business tax preparation. Just as choosing tax forms depends on your business entity, so does your tax filing deadline. When you use a Schedule C, it is part of your Form 1040 and is due by the individual filing deadline of April 15.

If you are a C-Corp filing Form 1120, it must be filed by the 15th day of the fourth month following the end of the tax year, which is typically April 15. If you are an S-Corp filing Form 1120S, it must be filed by the 15th day of the third month following the end of the tax year, which is typically March 15. To keep up with all of the federal guidelines, which are subject to change due to Covid-19, business owners can visit the IRS for federal tax deadlines. Slaton Financial also has the information you need. Call us to make an appointment to discuss your business taxes.

After choosing the proper form and collecting all of your records, you will need to complete the forms and file by the IRS deadline. This part of running a business requires attention to detail and accuracy throughout the year as your bookkeeping is maintained. This will keep you from owing more taxes or fees when mistakes are made. With our bookkeeping and payroll services, Slaton Financial can help you stay up to date on all types of taxes all year long.

At Slaton, we consider ourselves to be a partner with Dallas community businesses to reach their goals. Call us today and let us give you peace of mind as we take on your tax preparation allowing you to concentrate on running your business. If you are working late or on the weekend, just use our convenient online contact form.

 

 

tax deadlines

Business Tax Deadlines 2021

Business Tax Deadlines 2021 Dallas Texas

It’s that time of year when many businesses start thinking about taxes. The truth of the matter is that this job really never ends. The basics must be kept up with year-round for businesses large or small. Whether you have office staff keeping up with deadlines or are outsourcing your tax preparation services to our experts at Slaton, it is a good idea to keep tax deadlines on a central calendar so everyone involved is aware of what forms are due when.

Many businesses in Dallas, Texas, depend on us to keep their tax preparation up to date so no deadlines are missed resulting in extra fees owed to the IRS. We also keep up with state and federal guidelines, so you don’t have to study them each year. Businesses that don’t outsource have to rely on their own research to keep up with the changing guidelines like those described for business tax deductions on the IRS website.

Here is a list of some basic business tax deadlines for 2021 in date order:

January

  • January 15 – This is the extended deadline for paying fourth quarter estimated tax payment for 2020, scheduled due to Covid-19.

February

  • February 1 – Employers must mail out W-2 Forms by this date to employees as well as provide 1099 Forms to report non-employee compensation, dividends, bank interest and retirement plan distributions.Financial institutions must mail out Form 1099-B by this date regarding sales of mutual funds, stocks, or bonds through a brokerage account; Form 1099-S for real estate sales; Overdue fourth-quarter estimated taxes are due on the same date in order to avoid penalties in filing 2020 taxes.

March

  • March 1 – Businesses must mail Forms 1099 and 1096 by this date to the IRS.
  • March 15 – Forms 1120, 1120-A, and 1120-S for corporate tax returns for year 2020 are due and partnership returns with IRS Form 1065 are also due March 15, 2021. The extended deadline is Sept. 15, 2021. S-corporation returns with IRS Form 1120-S are due March 15, 2021, for corporations operating on a calendar year. The extended deadline is Sept. 15, 2021. When operating on a fiscal year basis, the deadline for S-corp and partnership returns is the 15th day of the fourth month.
  • March 31 – Date for businesses to e-file the following Forms to the IRS: 1099 and 1096.

April

  • April 1 – First-quarter estimated tax payments due for the 2021 tax year on this date.
  • April 15 – C-corporation income tax returns with IRS Form 1120 are due April 15, 2021, for C-corporations that use a calendar year. The extended deadline is Oct. 15, 2021. For a C-corporation that uses the fiscal year, the deadline is the 15th day of the fourth month after the fiscal year is complete.

June

  • June 15 – Second-quarter estimated tax payments due for the 2021 tax year on this date.

September

  • September 15 – Third-quarter estimated tax payments for the 2021 tax year on this date.

tax servicesDeadline to file corporate tax returns for the tax year 2020. Forms 1120, 1120-A, or 1120-S are applicable when an extension was filed.

This basic tax calendar gives any business owner an idea as to the deadlines for filing and payments that are required throughout the year. We are operating in an unusual time where the pandemic may change or create extensions for some of the dates listed as was the case in 2020. Here at Slaton, we keep up with all of the updates regarding the pandemic or state and federal guidelines. One of the biggest reasons for using a tax preparation service, like us, is never having to pay fees due to missed deadlines.

Give us a call today and allow us to discuss why using our professional tax services will benefit you and your company. At Slaton Financial Services, we pride ourselves on being a good partner for you and your Texas business helping our Dallas community one business at a time.

 

 

Human resources

Importance of Human Resources to your Successful Business

The role of human resources has changed over the last 25 years becoming much more than an administrative department. It is a key component in creating your company culture or environment and keeping employees engaged and informed. The HR department is also responsible for making sure a business follows the changing guidelines for employees like the employee rights and guidelines outlined by the Texas Workforce Commission.

In larger companies, HR managers coordinate the administrative functions of a business. This includes interviewing and hiring of employees. On a day to day basis they serve as a liaison between employees and management. The role is very important and the responsibilities grow when the staff and business grow.

Many businesses choose to outsource some of the administrative functions of their HR department. At Slaton Financial, we offer helpful HR services. We can provide clear guidelines for your management team and instructive guidelines for your employees. Here are a few of the ways that human resources has changed in recent years.

Positive Environment

All employees should feel that they have a share in the success of your company. A positive workplace culture motivates employees to be productive and helps them enjoy coming to work each day.

Many studies have shown that a workplace will not thrive without enough HR support. Human resources plays an essential role in employee satisfaction and productivity. Yet small businesses often cannot afford to fund this department and must make do without even one full time HR professional.

Effective Onboarding

Starting a new employee off well during the onboarding process can help the HR department ensure that the employee will be engaged and productive. Designing what an employee does from their first day to orient to the company and what they read, like a company handbook, will go a long way toward acclimating them to your workplace culture. For company handbooks and other materials, Slaton offers customizable HR materials that you can update whenever you need them.

compensation and benefitsEmployee Support

The difference between a middling HR department and a great one can be seen in the amount of employee support it provides. When employees feel supported to set goals and succeed, everyone benefits. This can be achieved through meaningful conflict resolution, a wellness incentive program or team building activities that boost morale. An HR manager and the HR department should be a place where employees are welcomed and encouraged.

Financial Impact

An HR department can have a strong impact on the productivity and success of your business. They work to make sure an employee is a good fit for their position and is operating at a highly productive level. This also means that the department is responsible for keeping employees invested so there is not a high turnover rate resulting in wasted time onboarding more employees than would otherwise have been necessary. Human resources is also the department which recommends training programs and incentives for employees to gain skill and knowledge making them a more competent worker.

With Slaton Financial, Human Resource support is Affordable

If you allow us to handle some of the administrative responsibilities for HR like scheduling, communication and payroll, your team will be able to focus on the supportive aspects of human resources. Our HR services are affordable and scalable with a regular and an advanced plan. Call us today and let us help you with your human resource needs so you can focus on what matters to you, growing a successful business for both you and your employees.

 

 

 

 

bookkeeping

How To Run A Business: Bookkeeping

Bookkeeping is a necessity for a business at the very start. Even if you are the only employee selling a product or service, you have to have accurate accounting to know whether you are losing money or making it.

About half of all small businesses across the country outsource either part of or all of their bookkeeping. Many find this is more economical than hiring a bookkeeper whose earnings range from $35,700 to $50,050 annually with certified bookkeepers making 10 percent more. Whether you choose to do the bookkeeping, hire a certified bookkeeper or choose to outsource with Slaton Financial Services, it is good to know the basics.

Bookkeeping vs. Accounting

A bookkeeper is depended on to keep accurate records of all business transactions. They send invoices, manage accounts, pay bills, conduct bank activity and prepare financial documents. This work is the foundation for the accounting process which examines the data and produces overviews to help with budget planning and forecasting.

Bookkeeping is a skill that takes practice to learn. The University of Texas offers an online certified bookkeeper course for national certification. You cannot even begin the course without two years of bookkeeping experience.

Attention to Detail

Records are not helpful to your business unless they are accurate. Finance records have to be kept meticulously on a regular basis. It is easy to get behind or bogged down when you are focusing on other aspects of your business. The only way to know the true financial health of your company is through accurate bookkeeping.

Accounts

Setting up accounts for your business in order to record transactions is necessary to begin the bookkeeping process. All businesses do not have the exact same accounts, but there are some accounts that all businesses will have for proper bookkeeping.

The basic accounts which businesses will have in common are the following:

  • Expenses – Money that is used to pay for items or services like payroll or rent.
  • Revenues – Money that is earned by your business through sales or a service.
  • Assets – Resources owned by the business like inventory or property.
  • Liabilities – Debts owed by the business like a property loan.
  • Equity – When liabilities are subtracted from the assets, you are left with equity like stock or retained earnings.

Bookkeeping Method

When setting up a business you will need to decide whether you will use single entry or double entry bookkeeping. Single entry bookkeeping is similar to keeping a checkbook. Each transaction is one entry. However, it still requires a two-column ledger. The two columns trace either income or expenses. Single entry cannot be used for a balance sheet or for tracking assets and liabilities.

Double entry bookkeeping has two columns for each account and each transaction is recorded in two accounts. Two entries are made placing a debit in one account and a credit in the other. All money must be accounted for so that the total amount of the entries balance. Double entry bookkeeping shows a true financial picture of the company’s finances relying on the accounting equation: Assets = Liabilities + Equity.

Most companies use double entry bookkeeping which is more versatile and allows for a balance sheet and tracking. Businesses must follow the accounting rules and regulations of generally accepted accounting principles (GAAP) which are used by public companies, private companies, non-profits, as well as state and local governments.

Reports

When your bookkeeping is accurate and balanced, you can use reports to ascertain an accurate picture of your business’s financial health. The reports typically created by a bookkeeper or by Slaton Financial, if you choose to outsource, are the following:

  • Profit and Loss Statement – This income statement shows your company’s revenues, costs and expenses for a certain period of time. This helps you make decisions about the next quarter while having an accurate view of your sales and expenses.
  • Cash Flow Statement – This report simply shows where your company is earning money and where it is spending money. With this statement, you are able to quickly determine your ability to pay debts that are owed.
  • Balance Sheet – This is used to see a snapshot of your assets, liabilities and equity during a certain time period. This gives you an overview of the financial health of your business and helps in making decisions for the next quarter or upcoming year.

Local Bookkeeping Services from Slaton Financial

When you contact us regarding outsourcing, we can help you make your decision! We have an expert Texas staff that can provide answers to your questions and take on the work of your bookkeeping needs. We keep up with any changes in state and federal tax guidelines so you won’t have to be sidetracked. We will be honored if you choose us to do your bookkeeping knowing that we are helping one of our very own in the north Texas community!

Call Slaton Financial Services today and let us take on the daily upkeep of your bookkeeping so you do what you care most about – growing a successful business for you and for your employees.

 

 

background check

Does Your Business Have a Reliable Way to Handle Background Checks?

Background checks are used for a variety of reasons. For many companies, it is the final step before hiring a candidate. It has been proven to be a dependable way to verify statements made by interviewees during the interviewing process. The U.S. government has detailed information on the types and importance of background checks.

It is important for businesses to know they are hiring safe workers with a good reputation, legal workers and honest workers whose statements match what is found in the background check. Hiring an illegal worker can cause companies to be fined by the U.S. government and hiring someone with a history of work issues could lead to a disruption of the pleasant work environment you worked hard to create.

Different Types of Background Checks are Needed for Different Job Types

At Slaton Financial Services, we partner with National Crime Search (NCS) to provide background checks. This is another way we seek to supplement what your human resources professionals have the time and resources to do. NCS has an A-plus rating and is a member of the Better Business Bureau.

The type of check can vary from local checks for hourly workers, driver drug tests, professional licensing checks or deep background checks. Nonprofits like charities and schools typically do volunteer background checks while landlords or property managers opt for tenant screenings.

As an employer, you need a system for checking your employees and possible hires. We provide affordable access to both background checks and drug tests.

Varied types of background checks include:

  • Education & Employment Verifications – This check is used by companies to confirm the education, training, or certification of candidates and to highlight any inconsistencies.
  • County Criminal History Searches – These searches should date back at least seven years and are conducted in the county where the potential employee lives.
  • Healthcare Industry Licensing Verification – Many health care organizations try to verify a health care professional’s credentials during the initial screening process. Hiring an unlicensed health worker can lead to fines and much worse, poor patient care.
  • International Screening – These checks may be used to screen possible employees who live outside of the country or who worked, lived or attended schools in another country.
  • Motor Vehicle Reports – This is usually a part of a typical background check and it details whether a candidate has driven under the influence, incurred tickets or traffic violations.
  • Sex Offender Searches – The National Sex Offender Public Website allows a search of the entire country’s sex offender registries. This includes the name, address, criminal history and physical appearance of the offender.
  • Social Media Searches – Statistically over half of employers in the U.S. search a candidate’s social media looking for a professional online appearance and even read what other people say about the candidate.
  • Social Security Number Validation – This check enables employers to check the candidates name and social security number with the official Social Security records.

employees background checkBackground checks can expose a lot about a possible candidate helping an employer prevent possible problems that may come from hiring less than truthful applicants. Depending on the type of business you own, you will want to make a plan for what combination of background checks are needed for your company.

You can use checks to determine educational inconsistencies, bad credit practices, poor driving records, false information on employment and criminal history. With our system, there is no fee until you use it. You can control costs by only paying for services you use and yet have the confidence of a professional system that works efficiently and thoroughly on your behalf.

Click here to learn more about a system of background checks that meet the needs of your company. We are sure better background checks will give you confidence as you hire new employees.