Little Company Pay-roll - What Do CPAs Recommend?
Payroll services for small business is now big business Atlanta's individual and small business CPA. Payroll service providers attended out from the woodwork and give business owners a slew of providers and software to choose from. Much like the majority of things in life and business, not absolutely all payroll service providers are made equal. Business owners and controllers must be cautious and diligent in the decision to outsource their payroll responsibilities.
The IRS states "Outsourcing payroll duties could be a sound business practice, but employers who outsource some or all of their payroll responsibilities should know the employer is ultimately in charge of the deposit and payment of federal tax liabilities." The employer, not the company, may be the responsible party for several taxes, penalties and interest. The IRS aggressively goes after payroll related taxes, much more than every other kind of tax. Diligence in selecting your payroll company is incredibly important.
A good place to begin your due diligence in selecting a payroll provider is by using your Certified Public Accountant. Your CPA works together many business entities and probably knows many payroll providers personally. Your CPA can make solid recommendations for you predicated on experience and personal knowledge. In fact, your CPA may offer payroll as a service. This has turned into a trend with CPAs due to the great influx of fly by night payroll service providers which have sprung up across the nation. CPAs are spending more and more hours correcting payroll errors created by these payroll services and their clients are paying small fortunes in fees, penalties and interest consequently of mistakes created by the payroll providers.
Partnering with the right payroll provider provides you with peace of mind by assuring your compliance with the taxing authorities and can save you both time and money. Business Payroll Solutions is a good example of the kind of payroll partner CPAs recommend. Over ninety percent of these clients are direct referrals of CPAs. Business Payroll Solutions was developed by a team of Certified Public Accountants and this is one key aspect you wish to search for in your look for the right payroll partner for your business. Other key indicators of a CPA involved payroll company include:
You're given your own dedicated payroll specialist who you will speak with each pay period. Your payroll specialist can get to know you and your business causing superior personal service. Your specialist will have a way to acknowledge problems in your payroll file before they happen.
You're given usage of a Certified Public Accountant. The on staff CPAs give you an important resource.
You're not the only party with "skin in the game ".The IRS holds the business enterprise owner responsible and the IRS also hold CPAs responsible. CPAs are registered with the IRS and are held to an increased standard by the IRS. The only others held accountable by the IRS to this degree are attorneys and enrolled agents.
Your payroll taxes aren't impounded! Atlanta's individual and small business CPA knows the value of your hard earned money and the significance of cash flow. (Did you understand that the national payroll providers earn more money from impounding your payroll taxes than from providing payroll services?)
You will remain off the IRS radar.
Do your research when you make the important decision of hiring a payroll service. Payroll compliance is serious business and getting it wrong can put you out of business. Be diligent, ask your CPA to personally recommend and introduce you to a payroll service provider.
