If you a business, you may want to look into payroll outsourcing and payroll direct deposit through payroll services or payroll providers. It is important to note that payroll systems can be complex. And in fact, Over 85 percent of certified public accountants recommend that small businesses employ the expertise of professional payroll providers and 68 percent of of Certified Public Accountants surveyed said that their clients’ time would be better spent handling business than trying to perform payroll related duties.
There are two types of federal taxes involved in payroll. Withholding taxes, which are deducted from the employee’s total compensation and are paid by the employer on behalf of the employee, Employer payroll taxes, which are not withheld from the employee, meaning that the employer is responsible for their payment. Overall, payroll can be fraught with errors and mistakes. Therefore, if you own a business you might consider outsourcing payroll and establishing payroll direct deposit, as it can save your company times and money. Many services even provide online resources for employees. Employee payroll Access Online enables clients’ employees to access their Forms W 2, check stubs, and personal and payroll information online so the employer is not burdened with inquiries.
