The average business owner spends 21 full days every year processing payroll. That’s a vacation and a half.
Payroll is necessary because your employees depend on it. Payroll taxes are necessary because the state and federal governments will hit you with fines and penalties.
Those things only add more stress to the process. Isn’t it time to hand payroll to a payroll tax services provider?
Outsourcing is hard for small business owners because they don’t want to incur expenses and they don’t want to give up control.
If you want to get time back to take care of the important work in your business, you’ll want to outsource. Read this guide to find out everything you need to know about hiring payroll tax services.
What Payroll Tax Services Do for Your Business
Payroll and tax services collect the necessary documents from employees to process payroll. They also file payroll taxes for your business.
Don’t confuse payroll tax services with bookkeeping and accounting. Accountants develop tax strategies and prepare your documents to submit for tax returns.
Some, but not all, accounting firms offer payroll services.
Bookkeepers are data entry and collections specialists. They enter and reconcile transactions, create invoices, and make collections calls.
Some payroll and tax service providers offer much more than that. They’re called professional employer organizations (PEOs). They offer everything from employee resources to marketing and branding.
You can get the accounting and payroll help you need with the option of adding more services to help your business grow. TriNet, avitusgroup.com, and Papaya Global are good examples of PEOs.
How Much Do Payroll and Tax Services Cost?
The primary concern for small business owners is the cost to outsource payroll and tax services. It depends on the number of employees you have, the frequency of payroll, and the service provider.
If you decide to get other services with payroll and tax services, expect to pay more.
There are different billing formats for payroll services, too. You might get asked to pay a base fee between $50 and $150 plus additional costs per employee.
You might find a flat rate or a simple per-employee rate.
Generally speaking, expect to pay between $150 and $250 a month for small business payroll services. They may charge additional fees to file taxes.
Since there are so many variances between payroll providers get a list of the services they provide and don’t provide in writing. This way, there won’t be any surprises after you hire them.
A Guide to Payroll Tax Services
You don’t need to spend any more time on payroll. It’s easy to outsource that time-consuming work to payroll tax services.
You’ll be able to focus on your business, while they focus on keeping payroll records and filing payroll taxes on time.
You don’t have to stress about payroll anymore. Your employees won’t stress about mistakes in their paychecks, either.
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