Why Outsourcing Could Be the Better Option

Author: Keith Huggett

Are you still doing your own payroll activities in house? Why? Outsourcing your payroll makes it easier to run your business, saves you time and should save you money. Here are just a few reasons why:

• A third-party service can cut payroll checks and direct deposits for you from a separate account, hiding your business account number from your employees.
• Outsourced payroll services save you from the tedious process of actually doing the payroll. All that you will need to do is to transmit how many hours each employee worked and what rate to pay them.
• With a third party helping you, you do not have to worry about updating your payroll system for yearly updates in withholding tables.
• Using a service to outsource your payroll activities frees up you or your employee to work on more productive activities, helping to move your business forward. Imagine how much money you could save if the time you spend paying your employees was instead spent on rebidding vendor contracts for lower prices.
• You are likely to see a number of changes to tax law over the next few years, just as there have been over the past few years. All of these will affect how your calculate your payroll.
• Using an outside vendor for payroll activities gives you an additional layer of protection if there is an error and you face an audit. Many payroll companies will provide a guarantee of accuracy and take responsibility for any mistakes that they make.

If you would like to learn more about the many benefits of using a third-party payroll service, contact The Tax Office, Inc. Their staff of accounting and payroll professionals can help you decide if outsourcing is a better option for you and your business.