Archive for February 21, 2013

Outsourcing Payroll Can Reduce Error and Waste

Written by admin on February 21st, 2013. Posted in Payroll management, Payroll outsourcing, Small business payroll

Small business payroll

A typical small business owner will file 32 tax deposits and 16 tax returns each year, which leaves room for error and waste. Payroll tax services can be especially cumbersome, especially as Congress repeatedly changes its mind on the payroll tax. To prevent payroll fraud and error, a small business can outsource payroll services to a third party provider.

Payroll providers, like ADP and Paychex, can provide a number of payroll services. For one, they can provide an automated time and attendance system, which can help track actual time on the job. For another, they can offer payroll systems like Employee Payroll Access Online, which lets employees access W 2s, payroll stubs, checks and other forms, and effectively outsources any inquiries an employee may have on pay. Finally, payroll programs can ensure piece of mind by calculating every payroll expense, like payroll tax, efficiently.

48 percent of businesses levied tax penalties, like payroll tax penalties, ended up admitting they were valid. This proportion is way too high. Businesses that use small business payroll services can not only escape this waste, but also ensure they remain in good standing with the U.S. government. After all, their business trustworthiness may depend on it. Good refereneces: www.paychex.com