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Getting help with payroll

accountant37004762.jpgEveryone has to deal with payroll as a business owner. You have the option to calculate payroll on your own or you can hire a payroll firm to manage it for you. Hiring out your payroll is a great way to avoid dealing with it and they can also come up with your W-2's each year as well. The downside is that payroll firms can become very expensive as they will set up direct deposit from your account to your employee's account. The bank fees can be expensive but compared with the cost of dealing with payroll on your own; it may be worth the investment.

There are several payroll software programs out there that can handle everything for you. One of which is QuickBooks. QuickBooks can not only mange your accounts and make sure everything is balancing correctly, it also deals with payroll and inventory. QuickBooks handles several aspects of payroll including the following:

  • Calculating earnings and deductions

  • Deduction of Federal and State taxes

  • Deduction of payroll taxes

  • Printing of payroll checks

  • Preparing and printing of w-2's

  • Establishing direct deposit

If you choose not to establish direct deposit for your employees payroll checks, you can mail them out. QuickBooks will inform you when it is time to mail out the payroll checks and the w-2's n order to make sure you are not in violation of any laws. The QuickBooks payroll solution will cost you about $199 to purchase and about $23.99 a year to update it and to continue using the software.

Another great payroll software solution you can work with is Intuit Online Payroll. This is a completely online payroll solution and it has over 1 million users. It is very simple to use and you can view the payroll checks online and organize them and pull them up for future reference. It runs about $39 for the premium services, which will calculate your business taxes for you as well. When you have new hires, it will cost about $1.50 for you to add them to the online software solution. You can test it out for free for 30 days before you decide whether or not to subscribe to this simple software solution.

Hiring a payroll firm to manage your payroll needs is another great way to deal with payroll. You don't need to deal with any of the calculations on your own and you don't need to worry about printing out the paystubs and other things. Local companies can help you out with your payroll needs. Hiring a local company is a great idea as they are close enough to come to your office and fix any problems you may have with payroll. You might also find that the local company is nicer to work with because they also can deal with your taxes and will be able to come to your offices and go through all of your paperwork and ensure that everything is organized correctly and you are getting all of the right deductions. You don't want to get into trouble with the IRS, which is why it helps to hire the right payroll service to help you out. Depending upon the payroll company you hire, it will cost you about $0.80 - $2.00 per employee to enroll or a flat rate fee of $100 or more. Acquire multiple quotes in order to find the right payroll service for your company.

You may be able to hire an accountant that can come and deal with payroll for you. Some of the accounting firms tackle more than just taxes and prefer to deal with payroll because it's easier to incorporate with your yearly taxes.

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