Even if your business has only a few employees, you may be considering outsourcing your payroll processing to a specialist. What can a payroll processing service like Payroll VI by Account Ability do for you?
- It can help keep you compliant. You may have employees in more than one state and need to comply with reporting, withholding, and paying state and local income taxes. This can be complicated, especially if you have to deal with FICA taxes on wages, Social Security withholding that’s capped for highly paid employees, and additional Medicare tax. Payroll servicers keep up to date with employment tax law changes and update your policy for you.
- You won’t have to worry about the schedules and details for making payments and filing payroll tax reports for federal tax, state tax, tax withholding, FICA taxes, unemployment insurance and workers’ compensation insurance, nor for individual state payroll options. Our Virgin Islands payroll service can provide detailed records of each payroll, including gross pay, withholdings and net pay. As an outsourced business partner we take care of this for you.
- At Account Ability Payroll VI, we process your payroll, make the correct deductions, and file taxes for you allowing you to focus more time and energy on building your business.
- Payroll services make your business nimble. If you need to rapidly scale up your number of employees, you can add them to payroll seamlessly. If you need to scale down effectively and rapidly, we can help you downsize payroll too.
- Payroll services manage and streamline rules, regulations and services regarding withholding and employee benefits. For example, if you provide a 401(k) plan, errors can cost you. Employee salary deferrals must be deposited in individual accounts within seven days of payroll. If you miss even one day, the IRS may audit your plan. Payroll providers can ensure these deposits will be made on time.
- We offer a 100% Tax Filing Guarantee. If you receive a notice from any tax agency based on a filing that we’ve made, we will resolve the matter on your behalf. If we’re at fault, we’ll pay all associated penalties and interest.
No matter whether you outsource or not, you are still legally responsible for tax and other compliance issues. However, by hiring a qualified service provider, you’ll take a lot of weight off your shoulders.
Reach out to us today for a no commitment quote. Contact us today.