Payroll tax compliance doesn’t have to be a thorn in your side
Payroll laws are always changing and vary from state-to-state. We make it our business to stay up to date with those changes to help you avoid the headache of payroll tax compliance.
When it comes to payroll, the IRS and all 50 states have made payroll a nightmare for business owners. On average, business owners spend around 8 hours on payroll functions. Over the course of a year, this amounts to 12 full days that could be spent servicing your customers & generating sales. Let us give you a free consultation about how our payroll solutions could fit your needs & free up your time to help you manage your business.
01.
Initial Payroll Setup
The initial setup process will involve us gaining a deep understanding of your company and its payroll procedures. We will look for any hidden dangers such as employees working in multiple states/internationally, owner compensation, employee reimbursement recording, withholding errors, contractor vs employee classification, etc. Your payroll will be setup correctly the first time so that you don’t have to worry about any problems on payday.
02.
Automated Online Payroll Processing
Your employees shouldn’t have to spend an extra half-hour every pay period in line at the bank. Automated payroll depositing will help make this process as painless as possible. For your hourly employees, we simply integrate a digital timesheet and their compensation will be automatically calculated and paid out without the need for manual re-entry. We setup expense reimbursements in the same automated manner for your company.
03.
Quarterly & Yearly Payroll Tax Filings
It never ceases to amaze us how many new clients we pick up have been fined for incorrect or unfiled payroll tax returns in the past. It is extremely easy for tax authorities to find errors in payroll tax reporting and you can be personally liable for any unpaid payroll taxes. Unlike most CPA firms, we treat payroll tax with the same respect that we treat income tax compliance.
04.
Technology Integration
New employee on-boarding, timesheet management and expense reimbursement can be time consuming, but we have developed some tech best practices to help speed up these processes. Small businesses cannot typically afford full HR departments so we offer cloud based HR to save you time and money.
05.
Payroll Report Generation
Have you ever asked your accountant for a detailed reports on your employee’s PTO accruals, attendance, hours worked, etc? Most of the time you will receive a generic report that you have to manually “mine” the data out of. We understand why you need these types of reports & will help you incorporate them into your budgeting process as well.
06.
Payroll Tax Credit Consulting
There are many payroll tax credits that most businesses do not take advantage of. Did you know that you can elect to have the Research & Development Tax Credit be a payroll tax credit? If you have tipped employees, are you taking advantage of the FICA Tax Credit? Do you have veterans working for you? We take the time to ask these types of questions to make sure that you are taking full advantage of the tax code. Don’t leave money on the table.