04 Oct Should I Hire a Payroll Service or Should I Do it Myself?
Here is your answer;
Unless you are a payroll expert, we strongly recommend using a payroll service.
In general, business owners are usually concerned with the growth of the business and don’t have the time it takes to keep up with the rules & regulations of payroll. The price of making a mistake and owing taxes to the IRS or state back taxes, interest and penalties can be huge.
Here is what you will not have to worry about;
- Issuing paychecks
- Filing quarterly reports
- Withholding employee taxes
- Issuing W-2’s at year end
- Considering the tax-ability of various deductions
- Managing employees’ health and pension plan contributions
Making the right decision is everything and this one may just be the best decision you’ve ever made.