Are you looking to eliminate the need for an in-house payroll department? We are here to take the stress out of payroll. You can rest assure knowing that any pay or filing mistakes will be identified and corrected quickly. Our payroll Services it’s a great way to provide employees with efficient, reliable pay service while minimizing liability concerns.
Prado Tax Services helps making payroll for small business effortless- just as it should be. Here are some of our day to day payroll duties.
Even if you have only a few employees, you may decide to outsource your payroll that is, turn over payroll processing and other payroll responsibilities to someone else. Outsourcing payroll lowers job costs if you are simply paying office workers, you can calculate pay by multiplying hours by rate, and determine if any overtime is owed. But if you are producing a product, you need to know the cost of labor on each product, so you can determine the cost of goods sold. Another example would be withholding calculations can be tricky. Calculating the amounts of withholding for employees is complicated. Briefly, you must determine federal income tax withholding based on the employee’s W-4(Which can be changed as often as the employee wants). One other reason is you need to determine state withholding for states with income taxes. Based on the state W-4. Also let’s not forget FICA taxes as well on wages at 7.65 percent and you must watch highly paid employees to be sure their social security withholding is capped at the maximum for the year. These are just a few of the reasons why outsourcing payroll would be beneficial to your business.