Payroll Processing & Tax Filings
Payroll processing includes the accurate and timely delivery of paychecks, the depositing of, and the filing of information regarding, withheld federal and state or local income taxes, social security taxes, and unemployment taxes with the appropriate government authorities. The timing of tax deposits and filings depends on the amount of taxes withheld during a given period, among other criteria. If timely deposits and filings are not made, significant penalties may be imposed.
For the smaller business, payroll processing can be a time-consuming task, a task that becomes all the more complicated as a business grows. Often, what starts out as an inconvenience becomes a major project of its own. Payroll records must constantly be updated and maintained efficiently. Valuable employee time, and in some cases management time, is spent pouring over payroll records to rectify discrepancies or to find and correct errors.
For the larger business, many employees may spend more time than can be justified to perform the many steps that may be necessary to prepare payroll and compile payroll tax filing information, time that may be spent in other pursuits that may be more important to the business’ operation.
We offer a payroll processing and tax filing service that can be a cost-effective alternative for both the large and small business. With this service, we examine your business’ current payroll situation with you, and then we help you set up a payroll system that makes payroll preparation and tax filing a simpler task for the business.