Business is great, you’re adding employees, but then you hit that dreaded time: payday. When you started your business, you probably never realized how time-consuming and complicated paying your employees would be.
Your time matters. Your focus on the business is critical. Working with our New York small business payroll company gives you both your time and focus back, and makes your payroll processing accurate, compliant with tax laws, and never an issue for employees to complain about.
Why You Should Work With a Small Business Payroll Company
Payroll is not simply writing a check to an employee. Running the payroll for a small business in New York is complicated. You have to pay attention to things like:
- Payroll rules
- Local, state, and federal tax laws
- Labor laws
- Employee classification
- Pay withholding
You have to do bookkeeping, wrangle confusing payroll software, keep accurate records, handle tax compliance, employee classification, reporting, privacy issues, and so much more. Make even a minuscule mistake and you could get hit with big penalties.
As you add more employees, the payroll workload grows as well. Working with a small business payroll company provides you full support for your payroll needs, including complicated aspects like:
- Certification
- Union dues
- Direct deposit
- Unemployment claims
- Wage garnishment
- Federal, state, and local tax withholding
- Contract and freelance payments
- Worker’s compensation deductions
Hiring a Payroll Company Can Save You Money
Believe it or not, outsourcing your payroll can actually save you money compared to hiring someone doing the job in-house. Software fees and licenses add up quickly, and if you’re doing it yourself, you’re wasting time focusing on payroll administration instead of growing your business.
Add into that the potential cost of penalties or fines due to inaccurate payroll and you’re looking at a real ding to your bottom line. Having someone else take care of your payroll eases these issues at a cost that can work with your budget.
Whatever your business size, NetPEO can help you get set up with a payroll program that rivals a Fortune 500 company, but with the flexibility to select just the tasks you need for your business.
Avoid IRS Penalties
If you make a mistake on your tax withholding, it’s not a minor mistake. The IRS and New York tax authorities will hunt down that money and more if you make an error. The IRS has the authority to shut down your business and make you and your payroll staff liable for paying it back.
This is true even if you’re behind corporate shielding. They have the power to “pierce the corporate veil” to get the money they’re owed. Even if you don’t hire a payroll company, you need someone on your staff that knows the rules inside and out and enforces them at your company.
Do you feel confident you can withhold the right amount of tax every time? If not, then NetPEO can help you.
Payroll Outsourcing Options
For many small businesses, a hands-off approach to payroll is desirable. A popular option with NetPEO is to fully outsource every aspect of payroll. However, other small business owners choose a more a la carte approach — keeping some elements of payroll in-house while outsourcing others to a trusted partner.
Some of your small business payroll outsourcing options include:
Handling Payroll
Payroll is one of the pillar services offered by New York PEO companies. From pay and withholding calculations to issuing checks or direct deposit, the basics of handling payroll can be time-consuming. We can handle the basics for you.
Withholdings
Social Security, pension, and tax withholdings can require complicated and exacting calculations. It is often wise to outsource this payroll function to avoid costly penalties.
Employee Benefits Administration
The better your employee benefits package, the more arduous it can be to keep track of and properly administer. Federal and state laws and regulations change often, so outsourcing your employee benefits administration saves the struggle of having to keep on top of all related issues.
Reporting
Payroll reports aren’t just meant to pile up, unread, on your desk. Accurate payroll reporting is a vital business requirement often required by laws and regulations. As they say in the U.S. Department of Labor, “Following the law is good for business.”
Online Payroll Entry
For companies that prefer to use technology to enter payroll information on their own, NetPEO offers cloud-based payroll options with our full support.
Employe Self-Service (ESS) Portals
If you’d like your employees to access your company’s payroll system anywhere, any time from any device, an ESS portal is worth looking into. ESS portals make record-keeping easy and increase employee satisfaction.
Customized Options
One of the biggest advantages of partnering with NetPEO to outsource your small business payroll is the ability to customize payroll options to meet your exact business needs. We are also flexible, so we can increase or decrease payroll management services as your business evolves.
Choosing a Small Business Payroll Company
There are numerous payroll providers serving small businesses in New York. When you’re looking for someone you can trust, there are important items to consider.
Reputation and Recommendations
Look for experience, not only how long the company has been in business, but depth and breadth of service. Some companies focus on small businesses, others work with businesses of all sizes. Some companies stick within one or two industries, others serve a broad range of clients across industries.
Do your research. If a company has an excellent reputation and other clients would recommend working with them, there’s a good chance you’ll be satisfied with their payroll services.
Additional Services Offered
Some companies focus solely on payroll administration. Others, like NetPEO, also offer the ability to scale up with human resources, finance, and administrative outsourcing options. As your company grows, it’s good to have a partner in your corner that can help where needed.
What Kinds of Businesses Does NetPEO Help?
Our company handles the payroll needs of businesses large and small in a wide variety of industries, including highly regulated ones. We help businesses with pay structures like:
- Tipped wages
- 1099 wages
- Bonus and commission plans
- Variable-rate employees
- Multi-department businesses
If it exists, we’ve probably worked with it! Find out how we’ve helped past companies with your style of compensation in a free consultation.
Schedule Your Small Business Payroll Consultation Today
NetPEO works with you to learn your business goals, what you’re doing that works, and the challenges you face. We then custom design a package to fit your unique needs. We focus on developing solutions to fill your payroll needs and give you your time back.
Call us or fill out the contact form to schedule your consultation.
