Monday, September 3, 2012

Outsource Your Payroll - 6 Reasons Why

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1. Your Time is principal - Could the time that you spend on payroll be best spent elsewhere? Maybe in advertising, meeting prospective clients, or working on generating new business. Conclude right now what you think your time is worth. Is it per hour, or maybe even 0 or more per hour? Now, think about how long it takes you to do payroll each week. Don't forget to add in time spent calculating worker hours, making ready tax returns, dealing with incorrect checks and notices from the state. And don't forget the cost of penalties you have paid. So, if you were paying yourself what you are worth, how much would you be paying yourself to do payroll? Chances are, outsourcing fees are much less.

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How is Outsource Your Payroll - 6 Reasons Why

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2. Isn't One of Your Goals to Decrease Expenses, or increase Profits? - If you aren't doing payroll yourself, maybe you are paying man in your office to do it. Are you paying too much? Again, look at what it is costing you to cope payroll in-house. Do you know how much it costs you to train man in that position? Also consist of costs of software, software updates and support, checks, paper, envelopes, and worker time? And what if the worker that handles payroll leaves your firm? What's to stop them from letting the competition in on your payroll practices, and how much your employees are paid? In many instances, the cost of outsourcing is far less than keeping the function in-house.

3. Keeping Up With The Competition - At A Low Cost To You - These days, employees are used to features that supply them with convenience. At some point, this fact has probably made you think of implementing features like Direct Deposit, worker Self Service, or Pay Cards. Maybe you plan it would cost too much, or you naturally didn't have the time to do the research. A payroll company, like Hr Fusion (www.hrfusion.com ) in Baldwin County Alabama offers clients numerous developed options to help them streamline their processes and keep up with the competition. They have already done the research, have the systems in place, and can offer their clients these convenient options at a low cost.

4. Be More Flexible - Are you tired of having to schedule your meetings, sick days and vacations colse to the dreaded "Payroll Day?" When you outsource your payroll, you don't have to worry about being in the office to make sure your employees get paid. All you have to do is get worker time into the payroll processor. These days, that is as simple as an email or phone call - which can both be done from anywhere.

5. No More Penalties! - If you are handling payroll in-house, you have probably been assessed a tax penalty or two. There have been over 9,500 changes to the federal tax code in the last 10 years. Do you want to keep up with all of that? Once again, you have best things to do. Many payroll companies, like Hr Fusion, take the accountability for your employment taxes when they process your payroll. Many clubs have a "No Penalties" policy. According to the 2006 Irs Data Book - In fiscal year 2006 alone, the Irs sent over 8.7 million employment tax penalty notices to employers, assessing over .4 billion in employment tax penalties. Were you one of those employers?

6. Leave The Headaches In The Past - It can be quite frustrating to have payroll looming over your head each week. Not only do you have to shell out a lot of cash, but you have to make sure you are calculating everyone's check correctly. What about deductions, garnishments, and loans? What about updating the tax tables for your software? What if there is a change in a law or reporting feature? How are you supposed to know about it? You have sufficient to worry about! Outsource your payroll and you can leave the worries to man else.

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