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"Bannon pretty much ran the company single-handedly". I am not following: if he was the only person running the company, how did payroll taxes get so large ? W

"Bannon pretty much ran the company single-handedly". I am not following: if he was the only person running the company, how did payroll taxes get so large ? Was it for his own pay? The article neglects what the taxes are for which would have been helpful.

compiler-guy 8y ago
By "running the company" the article means, the company's management. There were many more employees.
- nyrulez 8y ago
  Thanks. Including the principal amount for these taxes + number of payroll entities would have been nice - I am trying to get a sense of the relative proportions of these employment taxes vs actual pay.
  - mikenyc 8y ago
    https://en.wikipedia.org/wiki/Payroll_tax#United_States https://en.wikipedia.org/wiki/Payroll_tax#United_States The article is just content marketing, sensationalizing a mistake made by an extremely small, early stage startup as a marketing ploy to lead you to the conclusion you should buy this company's software to avoid a similar fate. So not surprising it's light on details. For what it's worth, startups at that stage almost never have a CFO nor any admin/accounting staff. That said, obviously it was a mistake and they should have paid their payroll taxes. But the sentiment in this piece is crafted solely to lead the reader to the conclusion that they should pay for this company's software.
    - dumbfounder 8y ago
      Content marketing is content and marketing, not just marketing, and in this case the content is a good warning to others. Yes, they are trying to sell their product, but they are making a good point, and they aren't shoving their product in your faces. I think you are being hard on them for no good reason.
      - mikenyc 8y ago
        Startups are hard and early stages are always messy. If the piece was journalistically motivated I'd feel differently, but as a marketing post I don't love the vibe. Just my two cents.
        CPLX 8y ago
        Yeah sorry I disagree. I really don't think it's possible for there to be too many articles telling startup founders not to fuck up payroll withholding. It's that important.
Hydraulix989 8y ago
All paid employees incur payroll taxes regardless of whether they "run the company" (e.g. C-level execs) or not.

compiler-guy 8y ago

By "running the company" the article means, the company's management. There were many more employees.

nyrulez 8y ago
Thanks. Including the principal amount for these taxes + number of payroll entities would have been nice - I am trying to get a sense of the relative proportions of these employment taxes vs actual pay.
- mikenyc 8y ago
  https://en.wikipedia.org/wiki/Payroll_tax#United_States https://en.wikipedia.org/wiki/Payroll_tax#United_States The article is just content marketing, sensationalizing a mistake made by an extremely small, early stage startup as a marketing ploy to lead you to the conclusion you should buy this company's software to avoid a similar fate. So not surprising it's light on details. For what it's worth, startups at that stage almost never have a CFO nor any admin/accounting staff. That said, obviously it was a mistake and they should have paid their payroll taxes. But the sentiment in this piece is crafted solely to lead the reader to the conclusion that they should pay for this company's software.
  - dumbfounder 8y ago
    Content marketing is content and marketing, not just marketing, and in this case the content is a good warning to others. Yes, they are trying to sell their product, but they are making a good point, and they aren't shoving their product in your faces. I think you are being hard on them for no good reason.
    - mikenyc 8y ago
      Startups are hard and early stages are always messy. If the piece was journalistically motivated I'd feel differently, but as a marketing post I don't love the vibe. Just my two cents.
      - CPLX 8y ago
        Yeah sorry I disagree. I really don't think it's possible for there to be too many articles telling startup founders not to fuck up payroll withholding. It's that important.

Hydraulix989 8y ago

All paid employees incur payroll taxes regardless of whether they "run the company" (e.g. C-level execs) or not.