Oh, those pesky deadlines. Doesn’t the government realize that you, as a small business owner or solopreneur, have a million things on your plate all the time? You know in your head that doesn’t matter, a workplace deadline for employee tax reporting has to be met. But…
No buts. It is a federal law that reports have to be sent to employees by a certain date and employers must comply. I know it’s tough, but it’s reality. (Sorry)
So what’s a small business owner to do?
When it comes to payroll-related tasks, outsourcing payroll services with a company like The Payroll Department means that those IRS deadlines will be met. You don’t have to worry and fret and you can take care of something else that must be done.
Payroll is especially worrisome. It matters to so many people.
If a mistake is made … and employees do not receive the compensation they expect, employers have a hornet’s nest to rein in. Not only does that create an administrative nightmare, but employee relations and morale are negatively impacted. The view of your leadership may even be diminished if the situation is not handled properly. Losing employees or even clients over something like a payroll error is not pleasant, nor uncommon.
If a mistake is made … on payroll taxes, either collection, payment or reporting, it can be difficult to correct and COSTLY. The IRS frowns on errors and charges fines, penalties and interest on amounts due depending on the error.
If you do not remember that banks close … for some holidays when we work, and payroll is delayed, you will have some very unhappy people. This is one more situation when a payroll service can be the answer to your worries.
Outsourcing payroll can be worth every penny. In fact, you might be surprised at the cost and what you get for the payroll fees at The Payroll Department. Sometimes it is difficult to put a price on peace of mind, knowing that your employees, the IRS and your banker are all happy. And I know that will make you happy!
-Elaine of The Payroll Department Blog Team