Three essential reasons small businesses should consider outsourcing payroll services
From securing new clients, to managing employee productivity, many tasks are involved with running a small business. That is why you should leave payroll services, and related tax accounting work, to professionals like JHunter. By outsourcing this job function, you will free time to devote to other aspects of daily operations. Based in Cincinnati, Jarad Hunter provides Ohio business owners with strategic financial counsel and solutions to help their companies flourish.
Below, he shares three reasons why outsourcing payroll services can benefit your business.
Avoid hot water with the IRS: Keeping track of payroll tax filing requirements is a time-consuming process. For this reason, many business owners panic during tax season. Some end up paying costly penalties and interest for late or incorrect filings. You can avoid potential penalties and interest by hiring a payroll services provider. Qualified providers will keep your records straight and ensure that you meet all tax filing deadlines with upfront compliance. With payroll tax, compliance is particularly important, because business owners can be held personally responsible for back taxes owed by the businesses they own.
Simplify paycheck processing: Outsourcing payroll services makes it more convenient for employees to get paid. JHunter offers direct deposit options, so workers no longer have to make trips to the bank to deposit paper checks.
Improve security: Although you hire employees you can trust, handling payroll services in-house does come with its share of security concerns. Professional service providers will do everything in their power to keep your financial information protected. This lowers the risk of fraud, embezzlement, tampering with records, faulty software, and additional headaches.
To learn more about bookkeeping and payroll services that can assist in your strategic financial analysis, improve operations, and prepare your Ohio business for tax season, call (513) 460-7691 today. You can also like JHunter on Facebook for updates.