Axiom Payroll went under

[Nick Gardner]

Just heard that Axiom payroll went under. They were the payroll company on almost every big movie/TV show I ever did. I imagine the writers strike had something to do with this.....

Anyone heard anything?

Nick

 

[Alexis Hanawalt]

http://www.latimes.com/business/la-...y?coll=la-headlines-business&track=crosspromo

 

[Mike Prevette]

Crazy, hope i get my w2's or actually I hope i don't

 

[Brook Willard]

Dammit, they still owe me money!

 

[Brent J. Craig]

More than half of the commercial houses here in Toronto use(d) them. The timing was pretty good as most co's tried to have us all paid up before Christmas. My assistant went directly to Axium's bank yesterday with a cheque (or 'check' for you 'mericans) and they wouldn't cash it.

Production companies here are being very cool about exchanging Axium cheques for working ones, and the Commercial Producer's Association of Toronto is all over it, even hiring legal counsel to help their members.

My biggest concern is our T4 slips (which I guess is the same as a W2) and whether Axium has actually remitted all of the taxes they have withheld from my pay stubs to the government. It would not be pleasant paying those taxes twice!

I have heard various rumours that they were shut down by the IRS, that they made some bad film financing investments, or that the writer's strike pushed them over the edge. I suspect the real story is much more complicated.

Does anyone know how payroll companies are structured? For example do the production companies just give them the money that they pay out to employees, is it held in trust or does it stay in the production co's payroll account?

 

[Mark L. Pederson]

more crooks in the film biz..??

shocking. (yawn)

well - I guess that's BIG NEWS for Entertainment Partners!!

Maybe EP can now hire some real programmers and fix their DREADFUL software.

 

[Brent J. Craig]

Maybe EP can now hire some real programmers and fix their DREADFUL software.

Yeah. Apparently Axium's was actually very good.

BTW, has anyone else found that payroll companies always tend to round down, in their favor, even if the amount should obviously be rounded up?

I find everytime I receive a payroll cheque from Axium or ADP, I have to fudge the numbers in my accounting software by 5 or 10 cents to make it balance! I wonder if all those missing nickels have anything to do with Axium's sudden departure?!?

 

[Mark L. Pederson]

Yeah. Apparently Axium's was actually very good.

BTW, has anyone else found that payroll companies always tend to round down, in their favor, even if the amount should obviously be rounded up?

I find everytime I receive a payroll cheque from Axium or ADP, I have to fudge the numbers in my accounting software by 5 or 10 cents to make it balance! I wonder if all those missing nickels have anything to do with Axium's sudden departure?!?

I use Axiums budgeting software - it is the best out there at the moment.

Yes, all the film payroll companies are ... well ... could use a visit from Uncle Sam.

I want people in the film business to start to GO TO PRISON for ripping off producers. The industry accepts white collar crime as "normal" business practice.

If they steal - PUT THEM ALL IN JAIL.

 

[lewneu]

Axiom

Axiom

Quite scary indeed...what does this mean to small production houses?..my film is in co-production with a Canadian Company with three Hollywood films on the go-they sank $300,000. in to Axiom to cover payroll-crew paycheques bounced and they covered them out of their own corporate account-nice guys-However, my fear is my co-producers could go bankrupt-My film is complete no worries there-but this is going to have a very large ripple effect. Any stories?

 

[lewneu]

Hope this answers question?

Hope this answers question?

More than half of the commercial houses here in Toronto use(d) them. The timing was pretty good as most co's tried to have us all paid up before Christmas. My assistant went directly to Axium's bank yesterday with a cheque (or 'check' for you 'mericans) and they wouldn't cash it.

Production companies here are being very cool about exchanging Axium cheques for working ones, and the Commercial Producer's Association of Toronto is all over it, even hiring legal counsel to help their members.

My biggest concern is our T4 slips (which I guess is the same as a W2) and whether Axium has actually remitted all of the taxes they have withheld from my pay stubs to the government. It would not be pleasant paying those taxes twice!

I have heard various rumours that they were shut down by the IRS, that they made some bad film financing investments, or that the writer's strike pushed them over the edge. I suspect the real story is much more complicated.

Does anyone know how payroll companies are structured? For example do the production companies just give them the money that they pay out to employees, is it held in trust or does it stay in the production co's payroll account?

Here is how it worked for my co-production team: The monies come into the production house and YES the calculated budget for the crew is sent to the Payroll-they hold the money to pay crew for a fee-the fee is cheaper for a production house than hiring an extra accountant for every film and the corporate banking fees are astounding ie: $5 on every cheque.
Hope this helps...
Lewneu Canada

 

[Brent J. Craig]

So are people receiving their T4's and W2's? Mine feel like they are late but I'm not certain on the expected timing.

 

[Kevin Halverson]

Yes, received W2 from Axiom last week (late, but better than not getting them).