BizChecks Payroll

As a small business owner, you are probably familiar with the term “KYC” (Know Your Customer). Financial institutions use KYC to mitigate financial risks, reduce fraud, and remain compliant with Federal and State laws. We believe in this term, but recommend that businesses owners take this concept one step further and KYB (Know Your Banker). Working with local banks who know your business and its unique needs helps significantly reduce potential fraud. That’s why last year, BizChecks Payroll launched a preferred banking relationship with a leader in small business banking, The Cape Cod Five Cents Savings Bank. Cape Cod Five not only provides a menu of Treasury Management Tools like Positive Pay and Debit Filters, but also gives employers the opportunity to work with local experts that know your business and live and support the community. If you’d like to get to know your banker, please reach out to Melissa Maranda and her team at Cape Cod Five.

This year, long time BizChecks client Cape Cod Package Store Fine Wine & Spirits is celebrating a remarkable 85 years in business. Opened by John and Sylvia Pendergast in 1939 and run by Jack Jr. and his wife for the next 50 years, Cape Cod Package store is now led by sisters Andrea, Danette, and Terri Anne. Cape Cod Package has built an incredible reputation, providing amazing customer service and a thoughtfully curated selection of wines and liquors. Since its inception, Cape Cod Package Store and the Pendergast family have been leaders in the community, supporting countless local charities and organizations. We are so grateful for all their work, and invite you to join us in congratulating their team on this momentous anniversary!

Last week the Massachusetts Department of Unemployment (DUA) issued the 2025 unemployment (UI)?and covid assessment rates.?While UI rates increased, the covid assessment rate decreased modestly resulting in an overall increase in the rates.?The maximum amount paid by an employer with the highest experience rating will be 15.85% while the lowest rate increased slightly to 1.04%. ? Based on the DUAs Annual Outlook report issued in the fall, the State’s Unemployment Trust Fund will have a balance of 1.91 billion dollars at the end of 2024 down from 2.9 billion dollars at the end of 2023.?This decrease in the balance along with the recent issues the State faces with the Federal government over misuse of covid funds certainly does not bode well for employers over the next few years. ? Once you receive your 2025 rate notice, it’s critical that you notify your payroll provider asap as the rate increase is retroactive to January 1st?and adjustments to your UI tax debits will be necessary.

Last week, Paychex acquired Paycor in a $4.1 billion deal, adding to the ongoing wave of consolidation in the payroll industry. While larger companies claim increased efficiencies and advanced tech, history has shown that fewer competitors rarely leads to lower costs or better customer service for small businesses. As large providers shift systems and software, small employers may face significant disruptions. If you’re looking for a payroll provider that understands your needs and answers your calls, consider reaching out to our team of local experts at BizChecks Payroll where we’re committed to providing personalized support. #Payroll #SmallBusiness #CustomerService #Acquisitions

The holidays are right around the corner but there’s still plenty of time to #ShopLocal this holiday season! Below, check out our holiday gift guide featuring some great gifts from small businesses on Cape Cod sure to please anyone on your list this year! For the chocoholic: Peppermint bark from Kandy Korner For the cinephile: Gift card from Cape Cinema For the host: Frasier fir candle from Plum Porch For her: Scarf from Puritan Cape Cod For the ice cream lover: Ornament from Four Seas Ice Cream For the kids: Toys from Pocket Full of Posies

Four Seas has been a part of the Drago summers for many years including doing the wedding cake for our daughter this summer! We will miss you Peggy and Doug!

The entire team at BizChecks Payroll would like to congratulate Peggy Warren and Douglas Warren on the sale of Four Seas Ice Cream last week.?A favorite of owners Larry and Laurie Drago and their family for over 40 years, Four Seas has been an institution on Cape Cod since 1934 serving up some of the Cape's?best ice cream to locals and tourists alike. The Warren family has owned Four Seas since 1959 with Peggy and Doug running the shop for the last 24 years. Join us in thanking Peggy and Doug for bringing so much joy to the community over the years and wishing new owners Lesley Carlin McElhattan and Josh McElhattan the best of luck!

Grateful. Thankful. Appreciative. Humbled. Whatever the word, that’s what the team at BizChecks Payroll is feeling this week. We recognize that our industry-high retention rates are thanks to our exceptional employers. Over 250 of our employers have been with us over 15 years and our average employer retention is over 9 years.? Couple that with an incredible staff who averages more than 9 years with BizChecks, and you have a recipe for success.? Shout out to some of our 15 year employers The Casual Gourmet, Cape Cod Creamery, Fair Acres, Headlines Salon, Habitat for Humanity of Cape Cod, Associated Eye Surgeons, Sundae School, BC Tent and SeaBreezes Clothing - we are so grateful for you!

Americans have an addiction problem. Their vice? Paper checks. A recent article on the front page of the Wall Street journal highlights the significant issue of fraud and paper checks. The average American writes over 30 checks a year, which is 2x greater than the second greatest producer of checks, France. Scammers are stealing paper checks out of mailboxes and washing the checks with common household chemicals. Checks are then altered and deposited and funds withdrawn before banks and financial firms can identify the suspicious transaction. Paper check fraud is up a staggering 400%. What can employers do? The easiest and simplest solution is to pay your employees with direct deposit. In Massachusetts, employers may require workers to be paid with direct deposit, however they cannot designate the financial institution that the employee uses. Direct deposit is convenient, safe and best of all free with BizChecks. If you’re looking to implement direct deposit and avoid potential scam, reach out to BizChecks payroll today. https://lnkd.in/g3cgbVRS

So proud of our incredible team. Dan and Richel have been an integral part of our success. Congratulations!