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It seems like this is solving the easy part of payroll. The actual "moving dollars between accounts" bit I just assume works fine with all payroll providers. It

by eli 12y ago

It seems like this is solving the easy part of payroll. The actual "moving dollars between accounts" bit I just assume works fine with all payroll providers. It's getting taxes and deductions and bonuses and multiple states correct, and getting good reporting. This product might be cheaper than what we do now, but the landing page does not convince me it's better. (Disclaimer: HR & payroll is not my department.)

kirkbackus 12y ago
According to their faqs: http://blog.incoin.io/incoin-faqs/ http://blog.incoin.io/incoin-faqs/ Those are all problems that they have yet to solve. They only support salaried employees (no hourly employees). Taxes should be done in 1.5 - 2 months, and bonuses are in their roadmap, but there is no timeline for that feature.
tonyhb 12y ago
Hey! Tony here from Incoin. You're right in that taxes are the hardest part. We're only launching in California and are working hard in compliance for this state to get this working. The biggest and newest part about Incoin, though, is payroll distribution. You can split your wages up amongst any of your savings, checkings, and bitcoin accounts for free. Say you want 80% in checking, 10% in savings, and 10% in bitcoin — that's possible for you to configure as an employee. And the employer doesn't have to touch a thing; we handle the entire distribution and BTC aspect (and trust me, running BTC payroll manually is horrible). We're hoping this is great for both increasing the amount of money that people save and increasing the uptake of BTC.
- CJefferson 12y ago
  Rather than having this tied to my employer, and requiring reconfiguring if I ever leave them, wouldn't it be a better idea to just get the money in one lump sum from my employer, and handle this kind of detail myself?
  - tonyhb 12y ago
    We had exactly the same thought. We're working on a new feature so you can sign up independently from your employer, too. It's not quite ready and there's more legal matters to consider, though it's in the pipeline.
- eli 12y ago
  The distribution sounds like a genuinely cool feature so I don't want to take away from that... but it seems one must buy payroll as a complete package. We couldn't even consider a solution that isn't able to do all our taxes and bonus payments.
  - codelitt 12y ago
    You're right. We understand that and are offering our beta customers help doing the tax portion of things. We still have a lot to do, but we're just getting started!

by eli 12y ago

kirkbackus 12y ago

According to their faqs: http://blog.incoin.io/incoin-faqs/ http://blog.incoin.io/incoin-faqs/ Those are all problems that they have yet to solve. They only support salaried employees (no hourly employees). Taxes should be done in 1.5 - 2 months, and bonuses are in their roadmap, but there is no timeline for that feature.

tonyhb 12y ago

Hey! Tony here from Incoin. You're right in that taxes are the hardest part. We're only launching in California and are working hard in compliance for this state to get this working. The biggest and newest part about Incoin, though, is payroll distribution. You can split your wages up amongst any of your savings, checkings, and bitcoin accounts for free. Say you want 80% in checking, 10% in savings, and 10% in bitcoin — that's possible for you to configure as an employee. And the employer doesn't have to touch a thing; we handle the entire distribution and BTC aspect (and trust me, running BTC payroll manually is horrible). We're hoping this is great for both increasing the amount of money that people save and increasing the uptake of BTC.

CJefferson 12y ago
Rather than having this tied to my employer, and requiring reconfiguring if I ever leave them, wouldn't it be a better idea to just get the money in one lump sum from my employer, and handle this kind of detail myself?
- tonyhb 12y ago
  We had exactly the same thought. We're working on a new feature so you can sign up independently from your employer, too. It's not quite ready and there's more legal matters to consider, though it's in the pipeline.
eli 12y ago
The distribution sounds like a genuinely cool feature so I don't want to take away from that... but it seems one must buy payroll as a complete package. We couldn't even consider a solution that isn't able to do all our taxes and bonus payments.
- codelitt 12y ago
  You're right. We understand that and are offering our beta customers help doing the tax portion of things. We still have a lot to do, but we're just getting started!