In our own experience at Stapley Accounting, we’ve discovered that outsourcing your payroll process to a trusted professional is preferable for most employers. When it comes to taxes, payroll is named as the most burdensome amongst employers as it can be complicated and, more importantly, time-consuming.
Here are three ways that outsourcing your payroll can save you time and a headache to boot.
- Having a professional work on your payroll can dramatically free up your time. Small to medium sized businesses spend a lot of unnecessary time working on payroll. Time they could be using to work on increasing their billable time and increase their revenue.
- By outsourcing you can also avoid some hefty IRS penalty fees if the payroll isn’t done right. 40% of small businesses pay an average penalty of $845/year for late or incorrect filings and payments to the IRS. Each state has it’s own set of rule that are constantly updating and changing. Having an accountant or legal consultant who remain up to date on these kinds of changes can really help your business save money in the long run.
- If you do choose to outsource your payroll then it open doors for your employees as well. They can have certain benefits such as direct deposit payments as well as online paystubs and W-2 forms.
Stapley Accounting Services excels at helping employers and their businesses with their payroll process. We have many years of experience and we really enjoy working through the process with our clients. If you have any questions concerning payroll or if you are interested in using our sources make sure to contact us.
Have a great weekend all y’all!