If you run a small business, there are a lot of things that you need to do yourself. And while there are many aspects of your business that are easy to do on your own, payroll might not be one of them. Tax codes and laws can change from year to year, and it can be hard to keep up. At ABC Payroll, keeping up with all things payroll is what we do. If you’ve been considering engaging payroll services for your business, we think you should go for it. It will make your life a lot easier and could even save you money in the long run.
Here are some of the challenges small businesses face when they go without payroll services.
Changes to Tax Codes
This is one of the biggest challenges small businesses face when doing their own payroll. You’re an expert in your business, not tax law. And why would you be? Running your business and keeping up with the latest in your industry takes up enough of your time. You don’t have the time to also become an accountant on the side. And just because you figured everything out this year, there’s no guarantee that the rules won’t change next year.
As long there are humans, there will be human error. The possibility that you will misinterpret part of the tax code or forget to carry the 1 is a risk you run when you handle payroll on your own. But bringing in a payroll company doesn’t just pass the possibility of mistakes on to somebody else. Payroll services have access to systems and software that remove many opportunities for human error. Companies like ABC Payroll not only have teams of payroll experts they also have access to resources and computer systems that ensure accurate handling of your payroll.
Classifying your employees correctly for payroll purposes is essential, especially today. Many businesses have a mix of full-time and part-time employees, as well as temps and independent contractors. Business owners need to make sure that the terms of everyone’s contracts are met and that the appropriate deductions are being made from their paychecks. And then when tax season rolls around, you’ll need to send everyone the correct forms. If just thinking about it is making your head spin, hiring a payroll company is the way to go.
Payroll Services from ABC Payroll
All the changes and potential pitfalls mean that, as a business owner, you are probably spending more time than you would like on payroll. Contact ABC Payroll today and let us take this hassle off your hands. Payroll services will simplify your life and let you get back to running your business.