How many hours per month do you spend on payroll? Our guess is too many! By allowing our certified public accountant in Waterloo, IL to handle all payroll tasks, you’ll have more time to dedicate to serving customers or developing new products. Our team is highly knowledgeable in federal, state, and local legislation payroll compliance.
Whether you’re opening a new business or you have been established for years, we can take the headache of payroll off your hands.
Outsourcing Payroll Can Save You More Than Time
When you’re busy running a business, it’s hard to focus on payroll taxes. But small business owners must keep in mind that they are always at risk of being audited. Each year, the IRS levies billions of dollars in penalties by charging fines to businesses failing to pay business income and FICA (social security) taxes, and for late tax payments or underpayment. Any corporation or LLC not adhering to corporate tax structure is subject to fees and fines. By outsourcing payroll services, you can save money by ensuring all taxes are paid correctly and on time.
Is Your Bookkeeper Doing Their Job?
If you’re not sure your bookkeeper is staying on top of these tasks, it’s time to call us.
- Withholding the correct amount of federal, state, local, unemployment, and FICA taxes.
- Making tax payments on time. Employers must pay federal income tax and FICA tax on a monthly or semi-weekly basis, and federal unemployment tax quarterly.
- Complying with labor and employment laws at the federal, state and local level.
- Maintaining up-to-date employee tax forms.
- Performing payroll system audits to remove employees who have left, correct manual timekeeping errors, and change employee exemption statuses.
