About Elizabeth

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About Elizabeth

Why Payroll?

Payroll. Affects. Everyone.

I see it every day. I am always answering questions about payroll, be it a question from an employer about running their payroll:

Help! What do I do? I just fired someone, and they are demanding their payroll check right now! I don't know how to calculate that!

Or from an individual on how to adjust their Form W-4 to withhold the correct amount of income taxes:

What do you mean I owe taxes this year? Last year I got refund! I just don't understand what happened and no, I don't know where my payroll check stubs are at, and yes, I got a bonus.

There is never a shortage of payroll questions, and despite payroll being a common phenomenon for everyone, there always seems to be another question just ahead, no matter who you are or what role you are playing.

So, which one are you?

Business owner
- "I use a payroll service - they handle everything for me. I don't even have to think about it."

Employee
- "What's that one form I need to fill out with the number of dependents or something? "

Tax professional
- "The client sent me their Form W-2, but I don't really know what all the different boxes mean. What is 2%SH or RSU anyway? I'll just ignore it. Probably it's nothing."

Accounting professional?
- "Reconcile the wages and payroll taxes on the trial balance - reconcile to what?"

So, is there a need for payroll training? Sure.

Anyone involved in accounting, tax, or finance really does need to have at least a basic familiarity with how payroll operates. And as an employee, you should at least know the role Form W-4 plays in your life.

But truthfully? No one really likes payroll, except for that whole getting paid part. And also truthfully, really no one really understands it.

In response to a general hatred of the topic, I created a payroll webinar series that teaches the basics, provides some resources, and uses some easter eggs to make memorable examples. Make it interesting, they said. Challenge accepted.

Elizabeth's Story

My superhero skill is I can explain taxes to people in such a way that they actually understand what I am saying. I can also tell you that you owe taxes without making you cry, but that is just a bonus skill.

As a seasoned Certified Public Accountant (CPA) licensed in the State of Minnesota since 2003, I’ve dedicated over two decades gathering experiences and unraveling the complexities of taxes.

My journey began at a mid-size regional firm in the Minneapolis suburbs. Starting out as a bookkeeper while studying for the CPA exam, it was here I first learned the basics, then the intricacies of payroll. Over the years, I honed my expertise across various departments, including accounting, business, and individual tax services.

In 2010, I embarked on a new adventure—launching Elizabeth Bystrom CPA, Ltd., a small, boutique tax and accounting firm that caters to both small businesses and individuals.

But my true passion? Payroll.

It’s the heartbeat of any business with employees, yet an often-underestimated adversary. I’ve witnessed firsthand how a seemingly simple payroll task can lead to costly mistakes. The common misconception that because payroll is so common, it must be easy to do. Not so. What many fail to consider is it is also incredibly easy to screw up.

That's where I come in.

I've curated a webinar series designed to pull the basics of payroll together all in one place.

Payroll Essentials webinar series, available at CPE Crossings.com

Designed to be taken either as stand-alone courses, or combined as a series, Payroll Essentials goes far beyond just a list of forms and facts and dives into exactly how payroll really does affect everyone.