Did you know that two out of every three businesses that prepare payroll in–house pay penalties every year? Penalties for incorrect payments or reporting on payroll are very costly. So costly, in fact that the cost of preparation services for an entire year can generally be paid for by just a few penalties.
Our in–house payroll service offers you high–quality service with processing by accountants rather than data–entry clerks who don’t always understand the ramifications of transactions. Our integrated approach makes tax preparation easy since we already have all of your payroll records and can advise you throughout the year. There are two methods we can use to process – one which maximizes cash flow and one which eliminates worry of spending your employees’ escrowed payroll taxes. Ask us which one best fits your needs.
Cash Flow Maximization Payroll Solution
In every growing business, the top priority is cash flow. When you utilize our payroll services, we can help you keep your money as long as possible and utilize your cash. On pay day, outside payroll processing services usually draft the net amount of all of your employees’ checks and the taxes that will be due on that money. In some cases, the taxes will not be paid for weeks or months. Therefore, they earn interest on your money and you do not have the cash available to assist you in maintaining your businesses cash flow needs. We do not earn interest on your money. We will prepare your payroll and let you know the amounts of your taxes and remind you when they are due. Therefore, your cash balances can be maximized and you can pay your taxes only when they are due.
By utilizing EFTPS (Electronic Federal Tax Payment System) and EFT methods of payment through state taxing authorities, you can assure that you payments are received on a timely basis and eliminate the possibility of forgetting to make your payments. We will assist you with the set up of this payment methods.
You can also save on costs by having your CPA firm prepare your payroll and associated returns by eliminating the normal duplication of effort to verifying that the transactions were processed correctly.