Small Business Payroll And Tax Services
Payroll and tax responsibilities are closely related and also extensive
. To enable small businesses to cut expenditure and channel their resources and finances to their core tasks, PEOs offer small business payroll and tax services that ensure this crucial element of HR management is in expert hands.PEO Payroll Responsibilities
Payroll responsibilities handled by PEOs vary according to the needs of the companies they deal with. It involves more than payment to employees, but also covers payroll tax filing and maintaining attendance records, working with the benefits administration department, calculation of overtime payments and bonuses, incorporating bonuses into paychecks, and paycheck processing. In other words, the disciplines involved broadly fall into the categories of accounting, law, administration and performance analysis. The experts at the PEO, with experience in various professional fields, can handle these responsibilities in an efficient manner.
List of Payroll and Tax Administration Services
Payroll tax filing and payment are provided by the PEO as part of its payroll services. Small business payroll and tax services are offered by the PEO in an economical manner, and these services extensively cover the following areas:
.Paychecks and stubs
.Direct deposit to multiple bank accounts
.Payroll delivery
.Payroll checks drawn on the PEO's account
.Section 125 pre-tax administration
.Payroll deductions, garnishments and levies
.Flexible spending accounts
.Federal and State payroll tax deposits and returns
.FICA, FIT & SIT tax withholdings
.Customized reports
.Job cost accounting reports
.Cost allocation reports
.Filing of FICA, FUTA, SUTA reports
.New hire reporting
.Federal payroll summaries
.Production and delivery of W-2s
.Wage/hour law compliance
.Paid leave program
.Comprehensive payroll deductions
.Vacation & sick time accruals
.Department summary
.Multiple worksites
All these may not be applicable for all organizations, and so the PEO's small business payroll and tax services are flexible enough to be adapted to their individual needs.
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