How much would an extra 12 days a year be worth? How much new business could be found in 12 days? What could that new business be worth? The average owner of a small business spends about 12 days a year doing payroll, and, for many, hating every minute of it. That’s the downside of running your own business. In the beginning, business owners spend time doing something they feel passionate about. As the business grows, other people do that work while the business owner chases new business, puts out fires and does a lot of paperwork, including payroll.
Why has Outsource Payroll?
Payroll Services in Brooklyn offer a number of benefits, first and foremost freeing up that 12 days a year. Professional outsourcing also relieves the worry about making sure the taxes are figured out correctly and sent in on time. That can be a big concern. About 80% of all tax penalties are charged to small businesses. It’s easy to understand how that could happen. When the business owner is being pulled in about a hundred directions at once, it would be easy to make a mistake on the taxes or forget the payment was due to.
The Many Benefits of Payroll Outsourcing
Saving time and having the taxes filed timely and correctly are two of the major reasons for outsourcing, but are definitely not the only reasons.
* The payroll checks are always ready on time.
* There’s no need to hire someone to do the payroll and related taxes, who may or may not be up to the job.
* Payroll records will be professionally maintained, with necessary information always available.
* It will be easy to keep track of each employee’s vacation and sick days and personal time off.
* It won’t be necessary to try to stay current on all of the changes on laws that affect payroll.
* Comprehensive, user-friendly payroll reports are always available for review.
* Monthly, quarterly and yearly tax reports are provided, with W-2, W-3 and 1099s.
* New hire reports are created and filed.
* Custom payroll reports, such as Workers’ Comp audits or unemployment claims, can be prepared as needed.
The Tax Advocate Group provides all of the above Payroll Services in Brooklyn and much more. First read the full info here and then call for a free consultation. Free up some valuable time and take at least a couple worries off your shoulders.