06/11/2022
Managing payroll is about more than just tracking employees' hours, calculating wages and issuing paychecks. You have to navigate various federal, state and local laws, and file payroll tax returns. Withholding rates and forms can change frequently. For example, in recent years, many states increased their minimum wage rates to a level that's higher than the federal minimum wage, and Congress created several payroll tax relief programs to help employers offset the cost of maintaining staff during the COVID-19 pandemic.
When you outsource your payroll, you won't have to worry about understanding and implementing new reporting requirements or wage and hour laws. Your payroll service can monitor the latest regulations and determine how they may impact your business. With a team of payroll experts on your side, you can avoid costly payroll errors as well as associated penalties. Plus, your accounting professional will have access to complete and accurate payroll data they can use to file returns or provide proactive advice.
