Benefits of Using a Payroll Service

Benefits of Using a Payroll Service

June 7, 2019

Owners of small to medium-sized businesses often find that as their business grows, payroll becomes more complicated. What was once a simple process becomes a maze of rules and confusing regulations that requires the expertise of dedicated payroll services in Hayward, CA. In addition to making sense of payroll and tax mumbo jumbo, an outside payroll service can be a benefit to your small business in a number of ways:

  • Save money: It may seem counterintuitive to say that hiring a payroll service in Hayward, CA can actually help you save money, but it’s the reality. Paying for a full-time accountant to manage payroll and taxes will end up costing a lot more than paying for just the aspects you need from a dedicated outside payroll service that is streamlined to handle exactly the tasks you require.
  • Quality and accuracy: A payroll service will also increase the accuracy of your payroll and tax paperwork compared to a single accountant or payroll manager. Payroll firms specialize in handling all the aspects of payroll for multiple businesses, so you can count on them to do an accurate and efficient job as well as stay up to date on tax laws and payroll regulations, because that’s their specific industry.
  • Compliance with tax laws: Tax laws and payroll regulations change every year, and not every payroll manager or accountant who is handling multiple roles in your business will be able to stay up to date on the ever-changing rules. A payroll service in Hayward, CA specializes in this work, making sure that you meet your state and federal legal obligations and remain in compliance, which can save you thousands in legal fees.
  • Manage all aspects of payroll: A payroll service can also manage multiple aspects of your payroll, in addition to tax paperwork. They can deal with employee retirement plans, direct deposits, management reports and employee tax obligations and prepare W2 forms, along with providing any other payroll needs.
  • Take a load off: An outside payroll service can greatly ease the weight of your human resource department or manager by managing all aspects of a highly specialized skillset. You can just provide them with the hours, deductions and pay rates of your employees, and the payroll service will handle the check processing as well as all other aspects of payroll. Plus, instead of paying for a full-time staff member, you’ll only pay for the service you directly benefit from.

If you’re a small business owner who would like to hear more about the functionality and services that third-party payroll services in Hayward, CA can offer, contact the specialists at Menjivar & Company CPAs, Inc. We serve our clients with accounting, consulting and financial services as well as payroll services. We offer a complete tax resource for individuals as well as small businesses, no matter what your position may be. From simple individual returns to complex corporate returns, we’re unmatched in our thoroughness and accuracy. Contact us today to learn more about how we can help you.

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