Nobody starts a business to push paper. Entrepreneurs and executives establish companies to build, create and service. They have vision. They see a void and seek to fill it. To them, it’s not just a business, it’s their passion. Theirs is a drive to work harder, smarter and excel. Unfortunately, more time is being spent on paperwork and less time chasing dreams. That’s especially true as the organization grows. There are supplies to be ordered, invoices to go out, bills to be paid, bids to be submitted. The list is endless. On top of all that, payroll has to be completed, week in and week out. It’s one of a manager’s most complicated, yet important, chores.
Here are just some of the things to consider when getting employees paid:
- Make sure each employee fills out a W4 form designating the amount of withholding they require from their pay.
- Check to ensure the number of deductions for each employee is correct.
- Know the correct local tax percentage for your employees. Most cities have an earnings tax between .01 and more than three percent. If you have employees working in different cities, tax rates for each municipality must be calculated for each employee in that location.
- Accurately track employee’s bank information for direct deposit.
- Classify contractors properly and sending them a 1099 at the end of each year.
Getting your payroll out every two weeks or monthly can be a time-killer. But it doesn’t have to be. Let us do it. Our professionals will have your company payroll completed accurately and efficiently. Visit our website to get started. It’s time for you to get back to business.