Michele Bossart, Author at Patriot Software

Patriot Software Michele Bossart

Patriot Software Unveils New Logo and Brand

Canton, OH

Patriot Software, commonly known as “PATRIOT,” rolled out its revised brand on January 29, 2020. Patriot provides premium accounting and payroll SaaS software to American businesses and their accountants. Patriot operates in the US financial accounting software market, including payroll, which is expected to grow at a CAGR of 11.7% to $10.37 Bn by 2025 (source: MarketWatch press release).  Continue reading “Patriot Software Unveils New Logo and Brand”

Form I-9 In a Nutshell: Sections, How to Fill Out, and More

Form I-9 helps employers enforce a legal workforce.

Hiring new employees can be super exciting. But with great new employees comes great responsibilities. As an employer, you’re responsible for onboarding new hires. Not to mention, you need to collect new hire paperwork, including Form I-9, from your workers.

Keep reading to learn all about Form I-9, including a breakdown of the form’s different sections and common Form I-9 errors to avoid. Continue reading “Form I-9 In a Nutshell: Sections, How to Fill Out, and More”

With This Guide, You’ll Be Reading and Understanding Form W-2 Like a Pro

Understanding Form W-2

As an employer, you’re responsible for withholding taxes from your employees’ wages and reporting the amount to the government. And in order for employees to file their individual tax returns, you need to show them how much you withheld during the year. So, how do you do that? You need Form W-2.

Ready to get a firm grasp on this whole Form W-2 thing? Read on to learn and understand Form W-2.

Continue reading “With This Guide, You’ll Be Reading and Understanding Form W-2 Like a Pro”

What Is the Penalty for Not Paying Payroll Taxes?

Failure to pay payroll taxes is not good for your business.

Collecting, reporting, and remitting payroll taxes are some of your key responsibilities when you have employees. And if you forget or downright neglect your responsibility, your small business could receive a penalty for not paying payroll taxes.

Whatever your reason for missing your deposit deadline, not paying payroll taxes is a big deal to the IRS and other tax agencies.

Continue reading “What Is the Penalty for Not Paying Payroll Taxes?”

What Is Estimated Tax?

estimated-taxes-start-with-collecting-records

Employers are responsible for withholding taxes from employee wages and sending them to the correct government agencies. But what about self-employed individuals or people whose income isn’t taxed? What do they do?

If you’re self-employed or receive untaxed income, you may need to pay estimated taxes each quarter to avoid any penalties or interest. Read on to learn the ins and outs of estimated taxes, including who is responsible for paying estimated taxes, when the tax is due, and how to pay it.

Continue reading “What Is Estimated Tax?”

How to Do Payroll: Your Step-by-step Guide on Paying Employees

If you have employees at your small business, you need to know how to run payroll.

If you are becoming an employer or already have employees, you must learn how to do payroll. Handling payroll is an important employer responsibility with many steps. Familiarize yourself on how to do payroll by learning about what payroll information you need to gather and the steps you need to follow to pay employees.

Continue reading “How to Do Payroll: Your Step-by-step Guide on Paying Employees”

Patriot Software sells Top Echelon in Acquisition by SageLink Capital

Patriot Software Sells Top Echelon

CANTON, Ohio – July 25, 2019 –  Patriot Software Company, nationally known for cloud-based accounting and payroll software, announced the sale of its recruiting software subsidiary Top Echelon Network, LLC (Top Echelon) in a joint press release this week.  

Top Echelon, a leading provider of applicant tracking system (ATS) and split-placement network software, has been acquired by SageLink Capital, a leading investment firm focused on enterprise software and technology-enabled businesses.  Following the acquisition, the Company has been rebranded “Top Echelon Software, LLC.”

This transformational partnership combines Top Echelon’s storied 30+ years of deep industry focus and award-winning technology platform with the team at SageLink’s successful track record helping software companies grow. SageLink’s investment will provide resources to invest in growth, add-on acquisitions, and strengthen its technology offerings to position the company for market expansion and consolidation.

In conjunction with the Top Echelon transaction, Mike Robertson from SageLink Capital, Bo Ramsey from Pendyne Capital, and Mike Kappel from Patriot Software will join the Board of Directors.

“This partnership is the exciting next chapter of Top Echelon’s story,” said Mike Kappel, Top Echelon’s Founder and CEO of Patriot Software. “This acquisition is a testament to the quality of Top Echelon’s software, systems, and staff.  And it’s especially exciting to see another major software company being birthed in Canton, Ohio. Sagelink brings an extra layer of technical depth and financial strength to the table that ensures that Top Echelon will be able to help recruiters for a long, long time to come.”

This strategic divestiture bolsters Patriot Software’s balance sheet and positions the Company to become an investment “pure play.” According to Kappel, “The transaction enables Patriot to devote 100% of its energies on perfecting its accounting and payroll SaaS platform to further eliminate pain points that every American small business and their advisors experience.”

“Patriot has self-invested over 300 man-years into refining its accounting and payroll SaaS products,” said Mike Wheeler, Patriot’s President and Chief Legal Officer. “After a successful stock offering under Regulation D, Rule 506(c), Patriot Software is poised to consider a Series A investment as it now services ~24,000 American small business customers, maintains extremely high customer ratings, and is scaling quickly in the U.S. market.”

ABOUT PATRIOT SOFTWARE

Patriot Software, located in Canton Ohio, provides online accounting and payroll software for small businesses. For information on all of Patriot’s products servicing the United States, contact Patriot Software, LLC at 877-968-7147, or visit www.patriotsoftware.com.

ABOUT TOP ECHELON NETWORK

Top Echelon Network is a privately held provider of applicant tracking system (ATS), recruiting, and split placement network software. The Company’s products include automation and workflow management of the talent acquisition process (Big Biller) and Top Echelon Network, a SaaS offering that provides recruiters a network platform where they share candidate and job order information online to allowing one recruiter to provide the candidate for another recruiter’s job order. Top Echelon Network’s software helps its customers attract and retain talent, match workers’ skills to business needs and staffing clients’ objectives, and reduce the time and costs associated with processes.  Founded in 1988, Top Echelon has grown to serve more than 1,700 customers. The Company is headquartered in Canton, Ohio. For more information, visit www.topechelon.com.

ABOUT SAGELINK CAPITAL

SageLink Capital is a leading independent sponsor focused on investing in medium-sized, growing businesses.  SageLink has a keen interest in software, technology-enabled service, and business service companies in the U.S. and Canada.  The firm focuses on middle-market companies and provides a range of capital solutions including capital for buyouts, growth initiatives, and add-on acquisitions. SageLink’s investments are for the long-term and are focused on growth. The firm is headquartered in Denver, Colorado. For more information, visit www.sagelinkcapital.com.

 

Contact: Patriot Software, LLC
Michael Wheeler
mwheeler@patriotsoftware.com
877-968-7147

How to Avoid Independent Contractor Misclassification and Protect Yourself From Penalties

Misclassifying Independent contractors

An estimated 3.4 million workers deal with independent contractor misclassification.

When you bring someone on board, determine whether the worker is an independent contractor or employee. It’s no secret that the IRS has strict policies in place to crack down on employers who misclassify contractors. So, how do you avoid misclassifying independent contractors?

Continue reading “How to Avoid Independent Contractor Misclassification and Protect Yourself From Penalties”