It comes as no surprise, there is seemingly an endless list of payroll service providers – from one of the many large, impersonal service bureaus to do-it-yourself software options. Somewhere in between the two extremes are local and regional payroll companies, accounting firms and CPAs who offer to assist with the daunting task. The list goes on and on… How do you make a decision?
If there is anything that will destroy your day, it is a letter from the Internal revenue Service! If there is any one requirement in selecting a payroll service provider, it must be this. Do it correctly! No one wants to deal with a letter from the tax authorities indicating a mistake was made along with a request for additional interest and penalties.
If there is any one requirement in selecting a payroll service provider, it must be this. Do it correctly! No one wants to deal with a letter from the tax authorities indicating a mistake was made along with a request for additional interest and penalties.
Your provider not only must understand the federal, state, and local laws dealing with payroll, but they also must maintain a dependable system for delivering error-free pay checks, timely payroll reports, and accurate tax liabilities – all of the time. Your company and the IRS are not pen pals!
So what sets CPAs apart from other financial professionals. The answer: A Lot. Careers begin with years of college and often graduate education. To become licensed, candidates take a demanding 14 hour exam covering a wide range of business topics. In addition, experience requirements are required for licensing. Once a CPA, continuing educations requirements and a commitment to a strict code of ethical standards are necessary to stay licensed. Armed with this rigorous training, CPAs are on the job year round, ready to help individuals and businesses address their own unique challenges.
Then, there is the price… Do you wonder if you are getting the best payroll service for your money? Shop! Shop! Shop! Significant price structures and varying degrees of assistance are available. Match the level of service with the payroll knowledge of your company. Even if you have the knowledge, does it make sense to spend time dealing with running payroll, calculating taxes, and preparing reports.
Many technological advances, particularly the Internet, have now given rise to remarkable capabilities that greatly expand the payroll service offerings. Not only can local companies offer the full spectrum of payroll functions, but they can also offer you a high quality, completely personalized service that rivals the capabilities of the payroll service bureaus and in-house systems.
What sets CPA payroll services apart is that it combines professional expertise with state-of-the-art technology that enables CPAs to customize the payroll service to meet your specific needs – who better to design such a system for you? Whether you have been relying on a service bureau or doing payroll yourself, consider a CPA; many of them offer payroll services.
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