Category: Payroll processing

Three things with that payroll tax experts can help

Payroll tax

Payroll tax preparation and payroll accounting paperwork can be very tricky, especially for those small business owners that may not have a ton of experience with financial record keeping. By outsourcing payroll processing to a company with years of experience, small business owners could find themselves experiencing one of the best ways to prevent payroll fraud from occurring in house.

Every single year, small business owners are required to file at least 32 tax deposits, and an astonishing 16 tax returns every single year. That kind of payroll tax preparation is rife with the potential for errors. A single payroll tax mistake could wind up getting noticed by the IRS, which could then assess someone a penalty.

An incredibly 48 percent of business owners that were assessed payroll tax penalties from the IRS later had to admit that they were valid. By outsourcing to a qualified payroll services provider, the risk of errors and fines can be reduced to almost nothing. In addition to all of that, the ideal payroll outsourcing experts could also give their clients a mobile app for their smart phones that could allow employees to quickly view and update their benefits, payroll and other services. This service from a qualified payroll tax company could be made to work with Android, iOS and Blackberry devices.

Providers Of Payroll Software Give Small Businesses A Boost

Restaurant payroll

A whopping 85 plus percent of CPAs highly recommend that small businesses outsource their payroll accounting services to experienced payroll providers. Often, they recommend it because an independent payroll processing company can offer more security and more accuracy. They recommend it as well because it can help small business owners save time.

Often, owners of small business have no idea how to do payroll and often wing it, which causes more mistakes and more time out of the normal working day. But with a strong payroll software program run by an outside firm, more can get done in less time and with fewer errors. Companies like Paychex, a proven leader in employee payroll services, are adept at helping these small business clients to pay for their payroll taxes on the local, state, and federal levels. This means owners of smaller companies can eliminate the need to make these calculations on their own, and they often get unemployment assistance too.

These providers of payroll software and systems also help track the comings and goings of employees using systems that manage hours and attendance, which tracks all work hours and salaries. This information is run through the payroll software program, leaving little to no room for error. Often, these attendance and time tracking systems are easy for businesses, but they help for tax and legal labor compliance issues as well. So these providers often go a very long way toward improving the performance of these smaller businesses.
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