Experts Answer Questions About Payroll Tax Filing
Payroll goes far beyond simply calculating and distributing checks each pay period. Many new business owners fail to understand the complications, requirements, and amount of time which are all associated with the payroll process. Rather than trying to become a payroll expert, many owners opt to trust payroll service providers with their payroll operation.
As one of the leading payroll companies in the area, our team is composed of local experts with years of experience in the payroll space. We work with local companies of all industries, and also have clients across the country.
Many of our clients have questions about a crucial component of payroll processing: tax filing. In the sections to follow, we will seek to answer some of these questions and hopefully provide some insight into why partnering with a service provider can help ensure your company always remains compliant.
What Is Payroll Tax Filing?
Local, state, and federal revenue services have different laws in place to tax the amount of money you pay out each period. In order to ensure their share is paid, they require reports to be turned in which provide essential information for tax purposes. These reports are usually due quarterly, and must be turned in on time and correctly.
What Information Is Required?
A payroll tax report is often turned in on pre-made forms which detail your entire payroll operation to the revenue service. Information on how much you pay each employee, how much withheld, and how much is due to Medicare and Social Security is all included in these reports. In addition, each time you hire a new team member their information must be reported.
Can a Payroll Provider Help?
If this sounds like a lot of work and a big headache for your company, it might make sense to partner with a payroll services company. Tax filing can be complex, and errors can lead to fines or legal action from the IRS. When you partner with a payroll provider, they have the right software, manpower, and experience to ensure you stay in compliance. This will allow you to focus on your business and remove worry about IRS woes.
What Advantages Does Your Company Offer?
We have a great deal of experience with tax reporting, and we can handle this tedious task for your business. We offer customized solutions for our clients, and we try to work as an extension of your team. By getting to know your business and your process, we can ensure your unique needs are met. In addition, our team of local experts stay current on all local, state, and federal tax laws constantly to ensure our clients are protected. In the event of an audit, we’re right by your side to ensure all the information is available and your company is well-represented.
If you would like to ensure your payroll taxes are filed correctly every time, and your entire payroll operation runs smoothly, we would love to help. Please contact us today with additional questions and/or to learn more about our services.
