We offer weekly and monthly business solutions to achieve optimal business process management in regards to payroll.
Payroll is one of those critical functions that may not directly increase sales. But carried out poorly, it can put your business in a world of hurt. And most of all, it can sap internal time and attention away from core activities. Businesses have to comply with a wide range of laws when it comes to employees — from federal, to state and local. It takes considerable time and attention to detail to deal with them. There are the obvious legal requirements, such as tax reporting and remittance. There are requirements around withholding taxes from the employee’s pay, and also calculating the employer’s portion of taxes. In some cases there are electronic filing requirements. You need to also know when to file — at the federal, state and local levels. Taxes, though, are just the start. “As an employer, you also need to understand wage and hour laws. For example, you need to know when you are required to pay overtime etc.