You became a business owner because of great ideas, game-changing products, or much-needed expertise to offer. Most likely not to practice your talent for running payroll. We think it’s important to respect this truth and outsource what doesn’t fit your skill set and isn’t of genuine interest. Small business payroll is a necessary and recurring task we strongly suggest business owners outsource.
Why? First, it’s difficult. If done incorrectly, it could have disastrous results. Second, it’s time-consuming and takes up valuable resources. Consider outsourcing payroll to simplify your recurring tasks.
According to the IRS, one out of every three employers has been charged for a payroll error at some point.
With total penalties reaching into the billions of dollars, processing it is better left to the professionals. Before you manage payroll next month, consider the benefits of outsourcing those time-consuming payroll responsibilities.
Many business owners assume that handling payroll themselves is more cost-effective than outsourcing it to a professional team. But what if it takes hours to complete and you make mistakes along the way?
Federal, state, and local laws are constantly changing. It's important to work with an expert team to help you navigate this dynamic world. Plus, their work will be more efficient and exact—which means you save money and have peace of mind. No one wants to navigate a tax penalty over an amateur mistake.
Processing payroll is more than just cutting checks to pay employees. It also leads a larger conversation surrounding compensation and benefits planning.
Outsourcing payroll gives your team back the time to focus on important HR aspects of running a business. This frees up focus for planning items like 401(k), health care, and other benefits.
Our tax advisory experts can further help you understand the financial and tax implications of these offerings. Together, you plan for the future and review how to support your talent—maximizing tax outcomes in the process.
Systems-wise, we recommend tapping into the amazing, scalable HR services and payroll data managed by Gusto. They make it really easy to stay on top of the day-to-day, as well as plan for hiring out of state, remote employees.
Your team has easy access to their pay stubs, any applicable tax forms, it is cloud-based and easy to use. Their customer service is amazing too! All the things you need when staying current in your payroll practices.
Working with professional outsourced accountants will simplify your payroll process. Take his tedious task off your plate, and let your expert team sync payroll with your current systems. They also make sure you’re meeting tax obligations in full, and on time.
One more item off your plate and making it easier to file taxes. Not a bad thing at all!
Processing payroll is one of the last responsibilities business owners are ready to hand over. We strongly encourage you to be strategic and delegate the task to a professional accounting team. Don’t wait for an IRS penalty because of a tax-filing omission to make the transition. Work with experts who can help cross payroll off your to-do list.
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