Many owners of small businesses and medium-size businesses feel they have no problems with taking care of their own payroll. But some find, after a period of time, that they have not kept up with changes in federal, state and local tax codes.
Take Your Time
If a business owner decides that it just might be time to bring in an expert, someone who offers payroll services in Brooklyn for example, their first step should be to take some time to evaluate offers. It would not be wise to run to a large accounting firm or an international company just because of the name or go next door to the friend who says he can take care of that job.
These companies provide a valuable service, as long as the help they offer fits the needs of your company. Before you make a choice, ask yourself a few questions. Do I want to avoid the frustration and hassle of doing my own payroll? Would the time be better spent taking care of daily operations within the business? When you answer these questions honestly, you may find that you would be better served by using professional payroll services.
Two items you may find you cannot provide by doing your own payroll work are the latest technology and the newest information. Professional firms will already be prepared to offer direct deposit, electronic reporting and electronic pay stubs. Some small businesses do not offer this to employees.
When you hire expert payroll services, you may find that there are a few “extras” that come with the agreement, such as consulting, or recommendations that you may not provide for yourself. The leading firms may also offer additional services that your business will need in the future. If you have already developed a relationship with a provider, you will be able to access these new services quickly and efficiently.