Why outsource your payroll?
Many businesses are choosing to outsource their payroll to professional payroll service providers. You may be wondering why?
Let’s explore some of the top reasons!
Peace of Mind
Reduce the complexity and risk of running your own payroll, while helping to ensure greater accuracy with up-to-date tax rates and regulatory information.
Your time is valuable! Reduce your workload and allow yourself to focus on what matters most: Growing your business!
The direct costs of processing payroll can be greatly reduced by working with a payroll provider. Our research indicates that a small business with 10 employees will typically spend $2,600 per year in direct labor costs associated with payroll. By outsourcing your payroll to a professional payroll service provider, you will save on these costs.
Avoid IRS Penalties
According to the IRS, 40 percent of small businesses pay an average penalty of $845 per year for late or incorrect filings and payments. Most national payroll services provide a tax guarantee, ensuring that customers will incur no penalties because the providers take responsibility for penalties when they do occur. In many instances, this cost-saving immediately justifies outsourcing payroll.
Advanced Service and Expertise
Using a payroll service provider with a combination of dynamic products and experienced customer service makes for a quick and easy pay day!
Additionally, outsourcing payroll allows for businesses to take advantage of expertise that was previously available only to big companies.