Tax Matters Services Can Help You Spend Less Time on Payroll and More Time on Your Business
The average small business owner spends approximately six hours a month preparing payroll. On a yearly basis, owners can devote up to 120 hours — that’s ten hours a month that could have been spent elsewhere. Unfortunately, there are no shortcuts when it comes to payroll processing. It’s time-consuming, tedious, and when taking the numerous state and federal regulations into account, it can feel beyond frustrating.
We understand that you need a trusted service provider who can manage the never-ending paperwork for your business. For that reason, we’re here to offer you relief. At Tax Matters, we have the skills and expertise necessary to handle the ins and outs of your business’s financial organization needs.
The Benefits of our Payroll Services
As a reliable service provider, Tax Matters can help you save time, effort, and money on payroll services. While reducing your responsibilities of managing check processing, reports, and ultimately avoiding any penalties from the IRS, we can help you become more self-aware of the numbers your business is earning and saving.
Our comprehensive payroll administrators will benefit your company by helping you with the following:
- Avoid costly errors. From underpaying your staff to keeping track of forms submitted to the IRS, these tasks require careful consideration. One mistake and your work is easily doubled. That’s where Tax Matters steps in. We will ensure all numbers add up and you have a clear understanding of monthly expenses.
- Pay employees on time. It’s important to set a precedence of dependability between you and your employees. A steady paycheck can be the difference between having enough money to eat or paying for a child’s daycare services. You can trust Tax Matters to have paychecks delivered according to schedule.
- Track costs. No sooner will you realize how much money you were spending on payroll services until you hire us to accurately measure expenses. By using our bookkeeping services, you will have a full account of time and money required for your business to prepare checks and organize paperwork. The ability to manage these and other costs will help you improve your company’s overall budget.
- Enhance security. Payroll processing is a complicated and risky task. Any misappropriate funds or identity theft can put you at risk of fraud. Payroll fraud is one of the biggest reasons why businesses close. Even if you’re not purposefully committing the act, it’s critical to reconcile all balance sheet accounts and records that track monthly, quarterly, and annual spending. Tax Matters can look for any discrepancies and investigate them to keep your business free from extortion.
Tax Matters Keeps You Organized and Prepared
If you currently manually track time clock reports and issue paper checks, then you likely have a large paper trail that’s hard to follow. When income tax season rolls around, preparing forms can be time-consuming, not to mention exhausting. We take that burden off your hands by organizing reports so you can efficiently manage daily tasks without the doubt of wondering where your finances stand.
Avoid Interest and Penalties from the IRS
The IRS enforces a strict annual penalty for businesses who fail to make payments, file incorrectly, or turn forms in late. Any of these mistakes can result in penalties or audits. The government’s rules and regulations are constantly changing, so keeping a solid grip on requirements is difficult. As a reliable payroll services provider, we keep up with current regulations and tax changes to make sure your business is meeting those guidelines.
Direct Deposit vs Payroll Checks
Wondering which route to go? Based on the needs of your business, Tax Matters can help decide what makes the most sense for you and your employees.
- Direct deposit: You can save time and money on checks by paying employees with direct deposit. This method can also keep your funds secure because money is moved from your bank account directly to an employee’s bank account.
- Payroll checks: The benefits of issuing checks include paying short-term or contract employees and stopping a payment if a mistake is made. For employees without a bank account, it’s also a viable option to issue checks.
Contact Us Today to Learn More
If you’re in need of a trustworthy payroll service provider, get in touch with us today at 915-581-1040.