For many small businesses payroll is often a headache. It takes time away from more productive activities, there are costs associated with doing payroll, and even larger costs if payroll is done incorrectly. The benefits of using a payroll service provider, might we suggest Payroll Chimp, makes outsourcing payroll a smart move for many businesses here in Mid-Michigan.
Cost
For many small businesses outsourcing payroll can reduce the cost associated with running payroll. When you add up the time it takes for an in house employee to run payroll you need to consider the time it takes to print and distribute checks, create and file tax returns, pay the payroll taxes and the time it takes accounting for all aspects of payroll in your bookkeeping software.
If you are a small business owner doing the payroll yourself you can especially appreciate the cost of your time running payroll. Using a payroll service, like Payroll Chimp, allows you to focus your time and energy on running and growing your business by focusing on what matters most.
Often times payroll services can perform these tasks for less as they operate at volume, have better software, have the expertise and are using best practices.
Legal Compliance and Accountability
There are also savings to be had in doing payroll taxes correctly by not paying penalties and interest.
Payroll comes with myriad IRS rules and regulations, and missteps in payroll tax compliance can be a very costly mistake for small businesses. According to Bloomberg, the IRS issued $4.5 billion in payroll tax penalties in 2013. Most of those likely to small businesses as larger companies are better equipped to stay abreast of changing tax laws. It is not enough to simply run payroll the same way year to year and small business can struggle to determine the changes they need to make in order to run payroll accurately. Payroll Chimp has the means to stay on top of the complicated and ever changing landscape of payroll tax compliance and the knowledge and resources to complete payroll task accurately and on time, preventing clients from incurring penalties.
Great Service
Using Payroll Chimp has a natural advantage over internal payroll as our dedicated team of payroll experts have the knowledge and tools to complete payroll easily and accurately for any size company.
Every member of our team has the knowledge to answer your questions, so you always have a payroll expert available. We use all the technologies available to provide you with the means to quickly and easily complete payroll, like reporting employee hours and getting payroll reports.
If you are looking to realize the benefits of outsourcing payroll look no further, Payroll Chimp is here to help. Our no surprises pricing let’s you know what to expect, but if you do have questions or would like to talk to one of our experts just contact us. We are here to help.