Outsourcing payroll can be a life-saver for a lot of businesses out there. Outsourcing means that an outside company will prepare, process and submit your payroll. Further, the company outsourcing your payroll will keep track of employee garnishments, employee benefit deductions, new hire set up, termination payroll info, PTO – paid time off, and all of the annoying Federal and state compliance regulations to avoid penalties and interest.
Having a payroll service will free up a tremendous amount of time and most business owners feel relieved once they’ve finally made that decision to outsource. Payroll companies have payroll experts and that’s all they do, so they deliver a high quality efficient service businesses out there.
One of the best payroll processing services we recommend is QuickBooks, as they provide a free payroll trial that is fully automated and easy to navigate.
Payroll Outsourcing Benefits
One of the benefits of payroll outsourcing to includes governmental payroll audits. If you do receive a governmental payroll audit, the payroll company you have will have to answer the questions and responsible for the info they submitted, which takes some pressure of you. http://maxmoneyzone.org/payroll-small-business-self-employed/
Payroll Outsourcing Video:
Payroll Taxes & Regulations
Payroll taxes are constantly changing, while new regulations are being implemented, which makes payroll preparation a challenge for most. Further, these tax rates differ from state to state. When you consider the money spent to pay an in-house employee to prepare payroll for you its usually much more cost effective to outsource payroll when considering the accuracy and overall cost. Keep in mind that you can find many local and national payroll services to outsource to, just make sure you are providing accurate information so they can best prepare your payroll to avoid any penalties and interest. Further, most outsourcing companies such as QuickBooks Payroll will represent you in a payroll audit and correct any mistakes made.
QuickBooks has a free online trial offer that has all of this information included to properly prepare and process payroll and is highly recommended.