A simple Google search of “payroll service” gives you about 435,000 results, and with so many options to choose from, narrowing down those results can be just as difficult as crunching numbers yourself.
When you pay a W-2 employee, you owe a certain percentage of their income to federal, state and local tax agencies. Payroll tax services will make it easy for you to ensure that you remain compliant with all local, state and federal tax laws at all times. A payroll services takes care of this burden for you.
By utilizing payroll and tax services, you will gain the peace of mind that comes from knowing that your taxes will always be filed accurately and on time. The payroll service should not be too complex to understand. It should have a clean and easy-to-use interface that allows you to run your payroll and add employees into the system in a matter of minutes, as opposed to a matter of hours.
The only thing more conventional than “keeping the books” is screwing them up. In fact, the two typically go hand-in-hand, as the IRS penalizes about one out of every three business owners for payroll errors. Choosing the best payroll service for your needs can help you to reduce bookkeeping and other errors.
A good payroll service will, at the very least, get checks to both the IRS and your employees on time, taking most of the weight off your shoulders — but not all of it. The paychecks themselves may be out of your hands, but this is still sensitive information that’s immensely important to your company, so it’s critical that you pick the right service for your small business.