A full-service payroll agency can offer small businesses many solutions including payroll processing, reporting, garnishments and tax levies, and more. They can provide business owners the convenience, flexibility, and choice to make managing your payroll easier and faster. That means spending more time running your business. Businesses of all sizes are recognizing the value of hiring a professional payroll service agency. There are five key reasons for this decision:

1. Cost: For most small businesses it makes sense to outsource their payroll management. The amount paid to a professional agency vastly outweighs the costs including employees working payroll, printing costs, check distribution, and bookkeeping. It also saves owners money on ordering accounting software, training staff, personnel turnover, and continued education on updated software products.
2. Increased Production: Typically, a professional service can complete payroll administration more quickly due to training, expertise, staffing, and the most up-to-date software. Subcontracting your payroll services can untie in-house personnel to help with other areas of business development. In short, it leaves staff open to concentrate on more important aspects of your business.
3. Accountability and Asset Protection: Business payroll includes extensive knowledge of Internal Revenue Service rules and regulations. There is little room for error without penalties or fines. Transferring payroll services to an external professional accounting firm will ensures asset protection for you and your business. Professional payroll service providers will make sure all your tax paperwork is completed and filed on time. And most provide a guarantee of it.
4. Legal Compliance: Payroll specialists have a widespread comprehension of an ever changing legislation landscape, as well as tax compliance regulations associated with business payroll duties. Payroll specialists often network with other business professionals like tax attorneys, financial planners, and banking officials to have the most current tax information on hand. This is advantageous when doing business with other states or internationally.
5. Exceptional Service: Professional payroll service providers have abundant resources available to them to provide business owners with the best service possible. Their staff is specifically trained and educated on tax rules, regulations, and compliance issues. Reputable firms enforce and supervise continued education through training, seminars, workshops, and accredited vocational facilities for their staff.

Without the most efficient tax team working for you, payroll administration can make a business sluggish. If you are a small business owner it can make sense to hire a professional payroll service to help your business be as successful as possible. Avoiding costly mistakes and untimely filing will eliminate payroll penalties, the number one source of IRS assessments. For more information on payroll services provided by Mierendorf & Co. please feel free to contact us today.