Updated: Oct 5, 2020
With today’s ever evolving legislation it can become very difficult to have the right information in regard to payroll especially when it comes to things like PPP and CARES Act to name a few.
Here are a few reasons why you should outsource your payroll to a payroll provider:
1. Avoiding penalties. When you are doing payroll on your own there is a chance that you’ll miss the occasional filing, and this can be very cumbersome to try to resolve on your own. With outsourcing your payroll your payroll provider will take full liability for all your tax filings and handle any late fees.
2. Freeing up your time. Payroll can be a quite manual process if you don’t have tools to automate it. By outsourcing your payroll you can free up your time and focus on strategic initiatives for your business.
3. Having tax experts on your side. With having a payroll company, you will be able to get guidance on the latest legislation and best practices with your payroll. You also might be able to take advantage of some tax credits you weren’t aware of.
These are just a few of the many reasons you should outsource your payroll. My recommendation is to use sites like G2Crowd, a peer-to-peer review site to find out what works best for your needs.