Outsourcing your payroll is a smart move. It enables you to use your employees’ skills more effectively. When you allow a payroll specialist to handle the details, you reduce your overhead, which helps you save money and increases your bottom line.
Without the need to customize your own payroll system, you also save valuable time. Use your time more efficiently by allowing a payroll service to input the data, research updates, and comply with any new laws. By eliminating the risks of figuring and filing your payroll taxes yourself, you can file your taxes with less concern.
Indeed, payroll services in Brooklyn enable you to concentrate on the core operation of your business while any accounting or payroll details are managed by professionals. When you refer your payroll to an accounting firm, you also receive comprehensive reporting. Documentation includes certified payroll reports, union reports, and workers’ compensation details.
Payroll Tax Reporting
Working with a company that offers all-inclusive payroll services will give you the edge you need to ensure that all your payroll checks are printed on time or that the payroll is direct-deposited promptly. Payroll providers also offer tax reporting for IRS and state taxes, including Electronic Federal Tax Payment System (EFTPS) payments.
In addition, stay up-to-date with payroll services that offer easy-to-read payroll tax reports for the month, quarter, and year. These reports include W-2, W-3, and 1099 tax forms. Detailed reports on employee vacation days and sick days can also be supplied.
Some of the reports than can be printed by payroll services include the following:
* Worker’s compensation audits
* Social security audits
* Unemployment claims
* W-2 and W-3 forms
* 1099 and 1096 forms
* Federal and state registration forms
* Child support audits
All the accounting can be tailored to your exact needs, including your payroll setup online. If you want to take full advantage of this type of service, contact The Taxadvocate Group for further details today.
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