When completed in-house, payroll can become a burdensome, time-consuming task that puts your organization at risk. If you’re on the fence about outsourcing, here are four questions to ask yourself:
- Are you informed about the constantly changing payroll tax landscape? The payroll tax arena is complex, and it can be a full-time job to stay on top of all the rates, deductions, and legislation from state to state. “I didn’t know” is not a good excuse when dealing with the IRS. Leave all the forms, numbers, and rates in the hands of a trusted payroll professional.
- Are you positive that new worker is an employee or an independent contractor? Payroll fraud and IRS penalties add up very fast, whether they are intentional or not. A knowledgeable payroll specialist can help you stay compliant.
- Will outsourcing payroll be cost-effective? Most times, outsourcing your payroll functions will be more cost-effective than paying salary, employee benefits, and training for in-house payroll staff. You can then redirect your employees’ efforts while adding on extras like Employee Self-Service and electronic timekeeping.
- What else could you be accomplishing if you didn’t have payroll on your to-do list? It’s one less thing to worry about in the busy business world we live in. Instead, use that time and energy to focus on growing your business.
If your answers to these questions are leading you to reconsider outsourcing, or if you already outsource to another provider, allow us to provide you with a free, non-obligatory quote just in time for January 1.
Visit Abacus Payroll’s website, www.abacuspay.com, and fill out a “Fast Payroll Quote” form.
