Payroll is one of the most important functions of your business, but it can be a daunting task to take on as a small business owner. Compliance with regulations, technology upgrades, and the detailed reporting requirements to Federal and state agencies is a lot for one person to perform, which is why many small businesses choose to outsource their payroll-related activities and reporting requirements to a third-party provider. Today, we’re covering four ways outsourcing your payroll can benefit your business.
- Frees up your time and resources. Payroll requires a lot of time, energy, and attention to detail. As a business owner, your time is better spent on the core tasks of the business rather than compiling hourly and salaried payroll information, calculating withholding deductions, generating reports, preparing checks or check stubs, filing related tax forms, and paying the amounts due. Outsourcing payroll gives you back your time so you can focus on growing your business.
- Reduces costs. By outsourcing payroll tasks, you can ensure they are managed seamlessly and in the most cost-efficient manner. You do not have to hire an employee to process your payroll and you can spend your time making your business more profitable instead of dealing with the details of payroll processing and reporting. If you’re curious about our payroll rates, please reach out to us and one of our experts will be happy to assist.
- Lowers risks. Many business owners struggle with complicated and often changing, payroll reporting requirements. At DMA, our team is well-versed and always up-to-date on payroll regulations and compliance mandates. Our goal is to help you avoid penalties for incomplete, late, or incorrect payroll information. With our payroll check-writing service, we can prepare weekly, bi-weekly, semi-monthly, and monthly payroll checks. In addition, we can also file monthly, quarterly, and yearly payroll tax forms and process payments for amounts due. Our team can prepare year-end W-2, and W-3 forms as well as liaise with the appropriate tax agency to resolve any problems.
- Gives you, as the business owner, access to the latest technology and expertise. Outsourcing to an experienced payroll team gives you peace of mind knowing your payroll is processed accurately and in a timely manner and protected by experts who keep up with upgrades in payroll software technology.
Professional payroll experts can help your business run more efficiently, seamlessly integrate with tax preparations, and allow you to feel more confident knowing the confidential information of you and your employees is safe and protected.
At DMA, we can help with the following payroll services:
- Wage and Hour Compliance
- Compensation and Benefits Planning
- Tax Problems/Penalty Assistance/Resolutions
- EFTPS Compliance
- Monthly, Quarterly, and Annual Payroll Taxes
- W-2 and W-3 Preparation
- Check-writing Services
When you’re ready to discuss your payroll needs for 2022 and beyond, give us a call at (608) 221-2332 or send us a message here.