As a business owner, you are subject to myriad payroll taxes: federal, state and local. Keeping track of hours worked is time consuming enough. Much less having to calculate the gross payroll, compute the withholdings, administer garnishments and track all the taxes.
Federal taxes include withholding, employee Medicare contributions, employee FICA contributions, employer matching for both Medicare and FICA and Federal Unemployment Taxes.
States have their own withholdings, unemployment insurance and workers compensation requirements. Some cities have income taxes, a per capita tax, an occupational privilege license (per employee) and more.
These monies are considered trust monies, as they are being deposited for your employees benefits. Any delays in depositing them can result in severe penalties.
Three Levels of Payroll Services – 2021
Traditional Services Billed quarterly. Payroll information is sent to us each pay period, via e-mail, with all payroll changes. We process and send you all paycheck information. Payroll taxes are paid when due.
· Quarterly Payroll Tax Reports: $220
· Our Quarterly fee for paying payroll taxes is $225 (online from your bank account to the government)
· New Hire Reporting: $25 / each new employee
· Payroll Set-up Fee: $100 Beginning of calendar year for New Company, $200 for midyear transfers
· Employee Loans: $20 / each check Garnishment Checks: $25 / each check
· W-2s and W-3s are $30 / each
Employee counts are derived from number of employees on State Unemployment Tax Returns.
Semi- Automated – 5% discount from Traditional services and no fee for paying the payroll taxes (all other fees apply) For example, 2 employees paid semi-monthly is $310 + quarterly payroll tax fee of $220 = $530 per quarter. 5% discount is $26.50, so net quarterly price is $503.50 . $167.84 drafted per month.
Payroll information is sent to us each week, via e-mail, with all payroll changes. We process and all payroll taxes are withheld, including unemployment, each pay period. No payroll tax forms will need to be signed (all filed electronically). Our fee is withheld monthly. Health insurance and 401(k) and 401(s) payments must still be made manually.
Fully Automated – 10% off from Traditional services and no fee for paying the payroll taxes, no fees for new hires plus full access to Human Resources information and Employees can have their own login. For example, 2 employees paid semi-monthly is $310 + quarterly payroll tax fee of $220 = $530 per quarter. 10% discount is $53.00 so net price is $477.00 per quarter. $159.00 drafted per month.
Instead of sending us the payroll information, you would enter it directly into our system. Employees would be able to log in and change tax elections, bank accounts, addresses and pull their own paystubs and W-2s. All payroll taxes are withheld, including unemployment, each pay period. No payroll tax forms will need to be signed. Our fee is withheld monthly. Not available for health insurance and 401(k) or 401(s) currently.