Within a recent survey conducted by Actionable Research1, nearly 75 percent of CPAs who serve small businesses experienced that their clients do not have the essential expertise to handle the requirements of payroll services. And 68 pct. suggested their clients’ time would be better spent working on the many other needs of their businesses.
In our experience, business are using payroll outsourcing most often for these important reasons:
Free Up Your Time
Payroll control by hand is a time-consuming process. Outsourcing salaries can free up staff time for you to pursue more important value-added and revenue-generating activities. Inc. magazine recently recognized the #1 task for small business to delegate is payroll, along with most accounting tasks.
The immediate costs of Payroll service can be greatly reduced by working with a payroll provider. Our research indicates that a tiny business with 10 employees will typically spend $2, six-hundred per year in immediate labor costs associated with payroll.
Salaries outsource testimonial
Steer clear of IRS Penalties
According to the IRS, 40 per cent of small businesses pay an average penalty of $845 per year for past due or incorrect filings and payments. Most national payroll services provide a duty guarantee, ensuring that customers will…